Credit card processing fees are one of the most under-looked areas to lower your operating business costs. As your organization grows, it’s more important than ever to pay attention to the fees you are paying.
Business professionals look to experts for advice in many areas of their business.
- Accountants help you with your finances and taxes
- Lawyers help you with legal needs and counsel
- Advertising agencies assist with websites and marketing materials
We believe every business should have a processing consultant to help them navigate the cost and confusing world of accepting electronic payments.
Having a processing consultant pays for itself
Many people believe that having a processing consultant is just another expense and project they are going to have to manage. The beauty of Audit Advantage is that we take the task of processor management off your plate. With our REDUCE program, you never pay a penny until you start seeing results and savings have been realized. We see businesses hire tax professionals to help them save a few thousand at the end of the year, but they completely overlook the thousands they are paying in unnecessary processing costs. Think about the time and money you’ll save when you have an expert processing consultant on your side!
Credit card processing costs continue to become more complex
Have you ever looked at a processing statement? You might be overwhelmed by the intimidating number of fees on your processing statements. Do you know which ones are legitimate and which ones are junk? Your credit card processing costs are a combination of hundreds of individual interchange fees, brand fees, dues, assessments, monthly fees and processor markup. Within those statements exist the nuances of interchange downgrades, transaction integrity fees, pricing strategies, Level 2/3 data, daily vs. monthly discount, authorization/transaction ratios and many more areas that are used to pinpoint processing inefficiencies. Things get more complicated because the fees are always changing.
Processors know you aren’t scrutinizing the fees on your statement(s)
Credit card processing is a money-making business and processors are always looking for ways to increase their profits at your expense. Most of the merchants we talk to aren’t looking at the ‘fine print’ on their statements. Some of them even make the mistake of calculating a simple effective rate and thinking their program is ok. Processors know that most merchants aren’t looking at their statements very closely and they regularly hide fees and inflate costs.
A consultant will advocate on your behalf and on behalf of your entire trade group/association
The best way to get the lowest fees is to aggregate your buying power. That’s the reason why many business owners participate in buying cooperatives, trade groups and industry associations. The same can be said for Audit Advantage. We leverage our entire portfolio of customers to get the best rates in the industry.
Audit Advantage will help you with all your processing related questions
We all know that payment processing is an integral part of your business. Sometimes you have questions about whether you are making the right processing decisions or whether your program is optimized for maximum performance. Our customers call us every day with questions ranging from technology to processor selection. Each of our programs come with access to a live and dedicated analyst that can help you with all things processing.
If you still aren’t convinced, send us your statements for a complimentary analysis your processing fees and performance.
Director of Audit Advantage