One of my favorite parts of my job

Each month around this time I get perform one of my favorite tasks - calling my clients to confirm the savings I projected by them having a straight pass through merchant account. Here are a few examples from my calls yesterday:

Winery (WA) Effective Rate Reduction - .57%, $309.59 saved

Winery (CA) Effective Rate Reduction - 1.13%, $246.88 saved

Winery (CA) Effective Rate Reduction - .87%, $219.71 saved

Golf Course (PA) Effective Rate Reduction - .14%, $336.75

Cigar Wholesaler (FL) Effective Rate Reduction - 1.48%, $172.28 saved

For most of these businesses I was able to keep their base discount rate the same. With other I had to raise their base discount rate, however, with straight pass through we still reduce their fees.

Remember, with a typical merchant account the majority of the profit is not made on the base discount rate; it is made by padding the surcharges from Visa and MasterCard. So when we completely wipe away all that padding my clients win every time.

Like this post? Then subscribe by RSS | Email