You may be asking yourself, "why should I do this, we already have a credit card provider?" There are several reasons to periodically audit your current credit card rates.
Here are a few reasons to take a closer look:
- Pricing structure does not match up
- Mistake was made setting up the account
- Hidden fees
- Not up to date with industry standards
Here are just a few:
Pricing structure does not match up
It is important to make sure the pricing structure matches up with the way you are currently processing your transactions. Are most of your transactions performed through the internet? Are the cards swiped in person? Are they keyed in over the phone? Or is it a combination of all three? These are critical questions because if your pricing is not set up the way you are currently processing your transactions you may be losing out on revenue!
Mistake was made setting up the account
Some have discovered that a mistake has been made setting up the account (i.e. a decimal place in the wrong spot can cost thousands).
Hidden fees
Other NPO's have sent us their current rates only to find out after the analysis that there were a number of hidden fees not disclosed on the merchant statement.
Not up to date with industry standards
Many of the organizations currently processing through us simply came to us after discovering their current rates were not up to date with industry standards...we have saved organizations hundreds of dollars because of this alone.