CREDIT CARD PROCESSING REDUCTION AUDIT
Merchants realize an average savings of 21% on processing fees without having to change their credit card processor
ACHEIVE SAVINGS WITH YOUR EXISTING PROVIDER
We are not a payment processor or merchant service provider. We partner and consult with merchants to achieve savings with their existing provider, eliminating the need for any changes or configuration to your existing business environment. Our expense reduction service department is made up of payment industry experts whose mission is to provide transparency and expense reduction solutions to merchants who process credit card transactions.
From auditing and analysis, to regular monitoring and reporting, to an ongoing commitment to processing optimization. We have the experience and expertise to be your ally in the payment industry, your advocate and advisor on best practices, and your partner in cost savings. Our success is based on measurable results, and our fees are only a percentage of your savings.
The payment industry, and in particular, credit card processing, is complex. Merchants are faced with confusing statements, hundreds of various payment processing fees - including costly layers of discount rates, transaction fees and surcharges - in addition to the numerous processing options offered by merchant service providers, payment gateways, and other payment processing entities. Without an unbiased insight, a merchant can easily fall trap to unfair pricing and pay large fees to accept credit card payments.
WHO SHOULD A MERCHANT TRUST
When evaluating merchant processing services, a merchant understands their own business requirements for card acceptance, but often have to rely on a sales representative selling merchant services to provide honest information on merchant service plan types and pricing options. Competition for your business is fierce and most sales representatives are paid on commission for the fees generated by your processing. This has led to deceptive sales tactics in an industry known for its complexity and negative image. Merchants asked to reveal their processing rate often tell us about their ‘qualified’ rate or an effective rate not inclusive of all provider fees. This misunderstanding is far too common for an expense that has significant impact on the operating margin of a business. We become your watchdog in the complex industry of payment processing.
3-STEP PROCESS TO ENSURE SAVINGS
Fyke And Associates three-step approach to expense reduction is unparalleled in the payment industry. We correct the processing plan to reflect the most competitive plan type and rate, using formulated, specific asks of the existing provider. Our team then works with the client to further reduce the non-negotiable fees through processing optimization – where we help qualify payment transactions at lower interchange rates by passing through additional processing data.
Examine statements to identify hidden fees, padded fees, surcharges, outdated pricing models, coding errors, inefficiencies w/ processing certain card types, etc…
We work with your current processor to restructure the way fees are being assessed to each transaction, thus delivering a savings.
Monthly monitoring of statements to ensure price increases or surcharges do not return (which they most likely will). We act as a watchdog over your account.
We start by auditing a few recent merchant service provider statements and deliver an easy-to-understand analysis – at no obligation and with no cost to you. After reviewing the results of our payment processing audit, you decide if you’d like to engage our services. We would then go to work on your behalf, with your existing merchant service provider, to reduce the payment processing fees tied to credit card transactions. Our success is based on measurable results, and our fees are only a percentage of your savings.
Our average client experiences over $4,000 in savings, per employee. Click below to access our questionnaire and determine your eligibility. Within 24 hours, we will notify you of what programs you qualify for, as well as quantify the potential amount we can secure for you.
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