Why the Summer Months Are a Good Time for a Payment Processing Audit

Unless you own a seasonal business that is hopping during the summer months, summer is a wonderful time to check your payment processing rates. Typically, businesses are much slower in the summer. They have time to conduct inventory, audit their files, and complete office work that usually sits by the wayside while they are busy.

Many companies know to use this time to review their accounts payables, such as insurances and vendor fees. However, did you know that your credit card processing fees are not set in stone? You can and should audit your credit card processing accounts to ensure you are not paying more than you should for services that allow you to get paid by your customers and clients.

Can You Get a Lower Payment Processing Rate?

The short answer is “yes.” Like everything else in the world, payment processing rates vary by provider. Some companies charge high rates. These companies claim to offer more services for the money you spend. In some cases, you are paying for the name because you use a big bank to offer credit card processing.

Other companies charge extremely low fees. These companies may not be the best in the businesses, or the biggest. They may have issues. However, sometimes, they offer you the services you need with less frills so you can keep more of the money you earn. These companies are not bad companies and may even have exceptional service. However, they are smaller companies that give you what you need and not much else.

Of course, there are all sorts of middle-of-the-road companies that help you process payments with some frills and prices in the middle of the highest and lowest. These companies are often where some of the better values can be found. However, they are not always the best option for your business and bottom line.

How Can I get a Lower Payment Processing Fee?

The first step in lowering your monthly payment processing fee is to audit your account. A trained payment processing account specialist can review your account. Your specialist can discuss your needs and interests to see if you are getting what you want and need and what you paid for.

Once your specialist reviews your account, they can make recommendations to help you lower your bill. They may even tell you that you have the best rate for your business needs. However, without a proper audit, you may never know what you are getting and what you are paying for.

If you need to audit your payment processing systems, the experts at Tanker consulting Services can help. Call them today at (609) 922-0201 for a free consultation.