http://www.noobpreneur.com/2010/01/21/how-to-negotiate-with-your-credit-card-processing-provider/ Business Opportunities, Entrepreneur Resources and Tools, Business Reviews Sat, 11 Feb 2012 02:41:37 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.noobpreneur.com/2010/01/21/how-to-negotiate-with-your-credit-card-processing-provider/comment-page-1/#comment-6508 Jeff Zellmer Sat, 20 Feb 2010 17:49:53 +0000 http://www.noobpreneur.com/?p=3386#comment-6508 Your article has some great points and every business setting up a merchant account could benefit from heeding your advice. One thing to add is that there is no requirement to use a three tiered pricing structure. Most processors are now accepting of an "Interchange Plus" pricing structure. The Interchange Plus pricing structure is, by far, the fairest and least expensive method of pricing for businesses that accept credit cards. Our company, Financial Mitigation Services, has found that over 70% of businesses that accept credit cards pay substantially more than is necessary to process credit cards. Utilizing an Interchange Plus pricing structure is one step of many that businesses can take to minimize costs in this area. Your article has some great points and every business setting up a merchant account could benefit from heeding your advice. One thing to add is that there is no requirement to use a three tiered pricing structure. Most processors are now accepting of an “Interchange Plus” pricing structure. The Interchange Plus pricing structure is, by far, the fairest and least expensive method of pricing for businesses that accept credit cards.
Our company, Financial Mitigation Services, has found that over 70% of businesses that accept credit cards pay substantially more than is necessary to process credit cards. Utilizing an Interchange Plus pricing structure is one step of many that businesses can take to minimize costs in this area.

]]> http://www.noobpreneur.com/2010/01/21/how-to-negotiate-with-your-credit-card-processing-provider/comment-page-1/#comment-6273 Jeff Zellmer Wed, 03 Feb 2010 14:41:18 +0000 http://www.noobpreneur.com/?p=3386#comment-6273 Although going to an auction site and comparing credit card processors can result in a better pricing structure for many companies, there is still a great deal of opportunity for most companies to go further than the typical negotiation process. In 1991, Visa an Mastercard had 8 Interchange categories. They now have over 300. How processors treat Interchange qualifications can be more critical than the rate you negotiate. My company, Financial Mitigation Services, helps companies to understand what they are paying and why and we have been successful in recovering substantial dollars for our clients. As a result of the complexity of processing billing procedures and the continued upward creep of processing costs, this is an expense category that every business should take a hard look at. Although going to an auction site and comparing credit card processors can result in a better pricing structure for many companies, there is still a great deal of opportunity for most companies to go further than the typical negotiation process. In 1991, Visa an Mastercard had 8 Interchange categories. They now have over 300. How processors treat Interchange qualifications can be more critical than the rate you negotiate.
My company, Financial Mitigation Services, helps companies to understand what they are paying and why and we have been successful in recovering substantial dollars for our clients.
As a result of the complexity of processing billing procedures and the continued upward creep of processing costs, this is an expense category that every business should take a hard look at.

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