The "Status Quo" is the Credit Card Processor's Best Friend

How many months have you gone through your mail, looked quickly at your credit card processing statement and said to yourself, "I need to do something about these costs."

Of course, you have many priorities in your business and many fires to put out. If you are like many business owners or financial professionals, the scenario will play itself out the next month again. It is likely that a nagging feeling that "you need to do something" will accompany your processing statement each month. In our experience in dealing with hundreds of businesses regarding this issue, there are a great deal who continue this cycle of inaction literally for years, continually paying more for a service than is necessary, sometimes substantially more.

It is unfortunate, but true, that doing nothing is extremely common for many businesses today that accept credit cards. Many businesses know that their costs may be more than is necessary, but it seems like such a small amount on each transaction that it hardly seems worth the time. The credit card processing industry is profiting greatly as a result. It is estimated that, of the $80 billion that is paid by businesses today in credit card processing fees, over 25% could be avoided with the proper knowledge and action.

Businesses that continue to procrastinate on this expense are the credit card processor's best friend. Each month that goes by is another month of excess profits in their pocket. They love to continue to siphon excess dollars on every credit card transaction your company accepts.
It is understandable why many businesses do not relish the thought of analyzing this expense. Businesses get bombarded almost daily from processors promising lower rates and huge savings. Of course, each processor prices things somewhat differently, so it is very difficult to detemine if they are really going to save you money. Many times, switching processors means a number of changes with your POS system or your accounting software and nobody looks forward to going down that road. Plain and simple, switching processors to achieve savings is often a guessing game whether you will actually reduce your costs and it can be a painful transition for your business just to switch.

There are smart ways to truly minimize this cost without going through endless sales presentations and taking multiple follow-up calls from aggressive processing sales representatives. Financial Mitigation Services is not a credit card processor, but we are experts in reducing processing expenses. Our organization works collaboratively with your current processor to achive the lowest cost possible for your organization. We have the knowledge and expertise to work with your current processor to achieve meaningful expense reduction. We work completely on a contingency basis, so there is no risk to utilizing our services. If we are not successful, your business receives our expertise and efforts free of charge.

We think our service and the value we provide is extremely beneficial for any company that accepts credit cards. If your business qualifies, you allow us do the work on your behalf and you start saving immediately on every transaction you accept by credit card. You do not have to analyze multiple bids and meet with multiple processing salespeople or brokers. You do not have to field multiple calls wondering if you have made a decision yet. You do not have to wonder if your choice of processors is correct. You do not have to analyze your statements monthly to determine if your transactions are being routed properly. You do notthing but save money and have an expert on your team to help you reduce costs significantly.

Whatever you determine to do in regards to credit card processing costs, it is very likely worth your time to look into this expense category. Most of our clients are surprised and shocked at the amount of savings that we are able to achieve on their behalf. These are not small amounts of a few dollars each month, they are substantial amounts that impact your business operation very positively.