Reduce Fees On Your
Merchant Services / Credit Card Processing
Merchant services (also known as credit card processing) are the means by which your business is able to accept payments via credit card. Whether B2B or B2C, accepting credit cards is a valuable sales and financing tool. Many companies prefer to pay by credit card, and if you do not offer this option, you may lose their business. Additionally, by accepting credit cards you greatly reduce the collections cycle and eliminate many of the cash flow issues suffered by businesses nationwide.
However, merchant accounts do come with a cost, and that cost structure can be very involved. Many merchant processing companies create complex agreements with complicated charges and fees. Low “teaser rates” (processing fees) are rarely seen once the account is live, and some companies pay 2-3x as much as they expected to.
At Corporate Expense Reduction Group (CER), we fully understand the merchant account game. We know where to look for the hidden fees and costs that inflate your monthly expenses. Best of all, we know how to reduce and eliminate those charges.
Additionally, we work with some very specialized technology providers that can reduce your costs even more. Did you know there are several levels of trust in a merchant transaction? Using specialized technology, we can increase the trust in the transaction, reducing your cost by up to 1% or more. That’s money in your pocket, simply for processing your transaction the right way.
Ultimately, your biggest savings will come from the processor that offers and honors the best rates. For many clients, we renegotiate and monitor their current processor. For others, we connect them with a new processor that offers lower rates, honors them, and leverages technology to reduce rates even more.
In the end, it is about you, reducing your costs and letting you keep more of the money you earn each and every month.
How CER Saves Your Business Money on Credit Card Processing Fees
Achieving cost savings in your merchant account is a three-step process. Here’s how it works, and remember, there is NO UP FRONT COST for CER to prepare this analysis:
- Provide us with your most recent merchant services statement;
- CER will provide an in-depth analysis of the statement, using our proprietary algorithms and computational models. Our systems and auditors look for coding errors, hidden fees, excessive charges and added surcharges that can be reduced or eliminated;
- CER is compensated based on the savings you are able to realize through our reduction of your credit card processing costs.
Merchant service fees are a business expense that cuts into your business’ profitability. It is a line item where significant savings can be realized by most of our clients. Yes, you can see a tremendous savings and money in your pocket by addressing these issues.
But we don’t stop at your merchant service fees! Corporate Expense Reduction is also experienced at analyzing other large expense line items to find you savings. We look at additional savings opportunities, including small parcel shipping costs (FedEx, UPS and DHL), energy savings opportunities, savings through proper software licensing, expense reduction through payroll services, as well as savings on telecom charges.
Level 2 & Level 3 Merchant Account Processing:
Save on Your Processing Costs
At CER, we work with you to secure Level 2 & Level 3 data to lower your processing fees – by as much as 50 basis points (.50%). These savings put real dollars in your pocket every month, by significantly reducing the interchange rates imposed on your transactions.
What Is Level 2 & Level 3 Data?
Level 2 and Level 3 data is information supplied with the charge transaction that provides additional data points related to the customer and transaction. This data can help corporations track spending, enhance data gathering and reduce risk on transactions. As a result, you can receive lower processing rates on transactions.
Level 2 Data and Transactions
Our processing gateway is able to automatically populate data for you, delivering savings of up to 50% on your merchant account transactions.
The data that is included in the transaction will include fields such as:
- Merchant Name
- Transaction Amount
- Tax Rates
- Transaction Dates
- Purchase Order number, Invoice Number or other identifier
- Merchant Zip Code
With this additional information provided, Visa and Mastercard can lower the interchange rate by 50 basis points (0.50%) or more. You are making the same transaction, and savings thousands or tens of thousands of dollars annually by providing additional information.
By using our processing gateway, we are able to handle this automatically, delivering tremendous savings from day 1.
Level 3 Processing for Credit Card Transactions
With level 3 processing in B2B (business to business) and B2G (business to government) transactions, additional data is provided to the processor. This additional data allows Visa and Mastercard to charge lower interchange rates on their Visa and Mastercard transactions. The additional data input meets this requirement.
Level 3 Data Provided
With full detail provided, the savings can be as much as 1.00% on the entire transaction. Only certain processing gateways support this, and we work with you to maximize the savings. Our gateway can automatically populate this data for you, which includes:
- Level 2 Data plus …
- Ship-from and Ship-to Zip Codes
- Invoice and Order numbers
- Item Product codes, commodity codes, descriptions, quantity, units of measure, extended amounts
- Freight and Duty Amounts
With this information provided, your credit card transactions can qualify at Level 3 and your merchant account savings can be up to 1% on that transaction – a tremendous savings over traditional processing.
Call Us Today to Discuss Your Business & Savings Potential
Call CER at 844-400-4906 to discuss your business. We are able to save money for 94% of the businesses we work with. Call us today, with no risk or obligation, and learn how much money we may be able to save for you.
High Risk Merchant Accounts
Specialized High Risk Merchant Accounts
As many companies know, there are certain classifications of business that are considered “high risk” for the merchant account industry. Depending upon the underwriter, services that are considered high risk may include:
- Vaping products
- Adult products
- Dating websites and services
- Debt collections
- Pawn Shops
- Nutraceuticals / Vitamins / Supplements
- Continuity Programs
Direct Relationships with High Risk Merchant Account Providers
In order to accept credit cards in these businesses, you need to work with specific providers who support these transactions. Additionally, not all providers support the same products or services, some will have different underwriting criteria and more.
We can navigate the complexity of this market segment, bringing your accounts to the providers who can handle them, and do so at reasonable rates.
Preventing Fraud and Reducing Merchant Account Risk
Using a combination of technologies, we are able to help reduce risk even more, working to get you better rates and reducing the risks of chargebacks.
- Secure gateways for fast and prompt processing
- Chargeback reduction through verification processes
- Fraud reduction by providing complete information to support the transaction
- Advisory services to our clients on business processes to help reduce fraud and reduce risk
Maintaining a clean reputation goes a long way to maintaining your merchant account. Companies do want to work with you and need to minimize risk. The fewer incidents you have, the more likely they will work with you long term.
Speak to Us About Your High Risk Merchant Account Needs
We work with a wide variety of banks and processors who have different appetites for risk. Even those that are willing to accept more risk have different criteria by industry.
Some are more friendly to one product or service line, another to others.
We have decades of relationships with the providers, understand their risk models, and can work with you to get your accounts with the companies that want to work with your type of business. Call us today!