Running a business comes with enough numbers to watch.
Payroll. Inventory. Rent. Supplies. Taxes.
Then there is your credit card processing statement.
If your first instinct is to put that one in a drawer and hope for the best, you are not alone.
Processing statements can include rates, fees, interchange, monthly charges and other line items that make it difficult to answer one very simple question:
What am I actually paying to accept payments?
Your Business Changes. Your Processing Should Be Reviewed Too.
Maybe you have been with the same processor for years.
Maybe your sales volume has grown.
Maybe you added online payments, new equipment or another location.
Or maybe you signed up for processing when you first opened your business and have not looked closely at it since.
That does not automatically mean something is wrong.
It simply means it may be time for a checkup.
Just like you review insurance, vendors and other business expenses, your payment processing deserves an occasional review too.
Start With the Bigger Picture
One helpful number to understand is your effective rate.
Take the total processing fees you paid and divide that by the total amount you processed.
That gives you a much clearer picture of what accepting cards is actually costing your business.
But price is only part of the conversation.
- Are you paying for equipment or services you no longer need?
- Does your current equipment still fit the way your customers want to pay?
- Are you taking payments in person, online, through invoices or on the go?
- Do you understand the fees on your statement?
- When you need help, can you actually reach someone?
A Rate Review Should Give You Clarity, Not a Sales Pitch
At TMC, we believe business owners should understand what they have and what they are paying for.
That is why we offer a FREE Rate Review.
We can review your current processing statement, help you understand what you are paying and look for areas that may deserve a closer look.
Sometimes there is an opportunity to improve something.
Sometimes there is not.
Either way, you leave with more information about your business.
And that is the point.
When Was Your Last Payment Checkup?
If it has been a while since anyone reviewed your processing costs, equipment or overall payment setup, now may be a good time.
You do not have to figure it out by yourself.
Let TMC take a look with you.
Call 888-249-9919 to ask about your FREE Rate Review.
Your business works hard for every dollar it earns.
It is worth understanding what happens to those dollars when a customer pays you.
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