Every business owner has been there. You’re reviewing your finances for the month and bam! You’re slapped with an unexpected payment processing cost that makes your stomach churn. Maybe the processing method was out of the ordinary or a customer used a different type of card than expected. Whatever the reason, you likely need help.
I can bring the expert consulting services you’re looking for to help drive down payment processing costs while allowing you to enjoy perpetual savings. As a nationally recognized leader with years of industry experience, I have worked with hundreds of business owners to develop unique strategies. Here are a few tips that may help you:
Consider address verification
If you want to get serious about reducing credit card fraud, it’s time to invest in an address verification service. An address verification system confirms the cardholder’s billing address prior to accepting payment.
Many business owners have found success with address verification systems. These programs quickly confirm that the address associated with a credit card is the same address that’s on file at the issuing bank. It’s easy peasy!
Ensure your account is set up properly
If you receive an incredibly high credit card fee out of the blue, there’s a good chance your account wasn’t set up properly. Most people don’t realize that improperly setting up your credit card account directly impacts the fee structure. Once you set up your credit account, it’s recommended you check all processing transactions within 24 hours to ensure everything is running smoothly. If you identify any mistakes, be sure to contact customer service right away to ensure your rates don’t skyrocket.
Hire a consultant
Many business owners don’t have the time or energy to manage payment processing themselves (it can be a full-time job). When in doubt, hire a consultant like me to ensure that all tasks are done on time. Not only do I provide expert business advice, but I can negotiate with the credit card processor on your behalf. When you partner with a professional, you also reduce the risk of credit card fraud because I know how to take care of the situation promptly.
Please consider visiting the Richmond Financial Services website for more information about what I do and why it’s useful. If you have specific questions, please message me and I’ll respond with answers and specific case studies. Talk soon!
