Originally published January 13, 2016. Republished May 6, 2019.
Whatever type of business you manage, there will always be various expenses to keep your doors open. From employee salaries and merchant services to utilities and inventory, the list can seem never-ending. There is, however, a way to keep certain costs down—specifically when it comes to your credit card processing account.
Let's discuss how you can lower your merchant credit card processing fees.
Don't be afraid to shop for a new provider.
Did you know credit card processing companies have complete freedom, in terms of what they charge clients? That means what you pay your current merchant service provider is most likely not the same as you would another.
Consider the fees on your credit card processing bill and ask yourself: “Do I really know what they all mean? Are these the most competitive prices?”
If the answer to both these questions is No, then it’s probably best to look into other credit card processing companies that are more open about what they’re going to charge you. Some companies might entice you with a lower processing rate, only to include hidden fees or raise your rates over time.
A good credit card processor will explain the purpose of each fee, and won't raise your rates.
MerchantPro Express never raises rates and is committed to remaining transparent and honest with its customers.
Calculate the savings.
If a merchant services provider claims they can save .5% on what you're currently being charged, it may not seem like a large sum at first glance. Yet this seemingly small savings can really add up, resulting in more money to reinvest into your business.
For example, if your business processes $100,000 in credit card sales in a normal month, this new provider would save you $500 per month. If you process $150,000 monthly, this equates into $750 during that period going right back into your company.
To reap these benefits, you'll likely have to switch credit card companies.
Make the switch.
There are a number of credit card processing companies to consider, but Merchant ProExpress (MPX) should be at the top of your list.
With a dynamic staff who puts their clients first and not their sales, and an impressive selection of credit card processing solutions, including the Clover® Station, MPX helps business owners across countless industries lower their merchant credit card processing fees.
Savvy business owners know to always keep an eye out for ways to maximize their revenue as much as possible. Exploring a new credit card processing company is a promising step you can take right now.
Get in touch today to find out how MerchantPro Express can start saving your business money.
The Clover trademark and logo are owned by Clover Network, Inc., a First Data company. All other trademarks, service marks and trade names referenced in this material are the property of their respective owners.