How To Ensure Your Credit Card Processing Rates Are Not Ruining Your Business

Every couple of years you will want to make sure that your credit card processing rates are properly aligned with your business goals (i.e. to make a profit).

You can accomplish this by asking your merchant services provider to analyze a few months of customer payments and make sure you are getting the best discounts on the card types that you process the most of. If you feel that you are not getting the best deal that you should be getting, contact a few other merchant service providers and see who gives you the best quote based on your historical data. If you have a great relationship with your current provider and you’d like to keep working with them, just show them the other quotes and be honest with them. Tell them you want to switch for the better rates but that you like working them and you’d like them to match the other quotes that you received. Chances are they will want to keep your business and match pricing from other merchant service providers.