Reducing Credit Card Processing Fees

The vast majority of professional service organizations continue to use their original contract to accept credit card payment from customers. Often these early contracts charge higher fees based upon outdated risk metrics and a lower volume of credit card transactions.

As the current market for credit card processing business is highly competitive and your business has likely grown—in terms of operating history and the volume of payments you accept via credit cards—most professional service organizations can negotiate substantially lower credit card processing fees, just check this kredittkort test.

For example, a $2,000,000 per year business that accepts half of all payments by credit card can, through proper selection and negotiation, reduce their credit card processing fee from 3.0% to 0.5%. This results in a 2.5% savings on $1,000,000 or $25,000 each and every year.