I cannot tell you the number of times I ask merchants what they are paying and they do not have the slightest idea! They THINK they are paying less because they only heard part of the fees and not the whole fee structure! We, as a company, request a copy of our potential customers' statement to do an indepth analysis of their current processing and give them the results. We hope they decide to change over to our company since their company has been overcharging them for awhile. However, if they unfortunately are trapped in a long-term contract (we do not have a contract) or they are stuck using hardware or software that they are unable to get out of, they can take our analysis and ask their current provider to drop their rates!
But how can I just see what I am paying myself? I mentioned in a previous post that the easiest way to keep an eye on your processing fee is to implement the NET EFFECTIVE METHOD:
Merchant Statements appear to the average merchant as jibberish! So hard to understand!! Merchant Processing Solutions tries to help merchants get a handle on their merchant services costs and lower them substantially!
If you would like to know what you are paying for merchant services or need our help to understanding your fees, call us!