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How To Save On Credit Card Processing

Credit Card Processing

Note: In order to provide funding for our business cash advance program, SBA Capital is required to work with the credit card processing industry.

Although we are not in the credit card processing business, we do help clients get set up with fair and honest credit card processing services when it saves them money.

We do not require any company to change their credit card processing in order to receive funding from SBA Capital.

 

We strongly recommend that if you are going to use merchant cash advance funding, you select a credit card processing company that can work with all merchant cash advance providers.

 

Helping Our Clients

When providing funding to a business, part of our underwriting process includes reviewing the merchant’s credit card processing statements. And often we see companies being overcharged for these services.

Because we know the credit card processing industry, often we can help a merchant to save money by suggesting they get a new quote on their processing requirements.

You can do this directly with any provider you like, or we are happy to get you a free quote on behalf of one or more of the processing companies we work with.

 

Select A Provider That Services The Industry

If you are going to use merchant cash advance funding for your business now or in the future, being set up with a credit card provider who works with all of the merchant cash advance companies will definitely save you money.

It’s Easy To Switch

It’s easy to switch – even for POS Systems.

Sometimes merchants think switching providers is too difficult to do, but really it’s very easy. Normally your existing equipment can simply be reprogrammed in just a couple of minutes over the phone.

Even your point of sale system can easily be reprogrammed for credit card processing. This is an easy, common process.

 

What’s a fair price?

It certainly seems like some companies make the pricing pretty confusing on purpose.

There are assessment fees, swipe fees, transaction fees, interchange fees, markup fees and several miscellaneous fees that are hard to even explain.

And what about those great rates? “ONLY 1.03%!” How exactly do we get that rate?

If they advertised 1%, why am I paying close to 4%?

 

Understanding Credit Card Processing Fees

The best thing you can do is simply to get a side by side price comparison. If you are paying too much you will see it right away. If you are getting a fair price you will see that too.

SBA Capital is able to provide nearly wholesale processing costs to its clients because we don't need or focus on profiting from credit card processing. All we need is 2 months of processing statements to get a comparison completed. You may be surprised how much money we can save you.

 

Fees Explained:

Cancellation Fees can be very expensive. Watch out for these when you sign a contract. Some fees exceed $1,500 if you need to close your account!

Leasing Fees apply to credit card processing equipment. A regular credit card processing machine costs about $225 to purchase – yet we have seen leasing fees that exceed $2,000 for the same equipment.

Assessment Fees are paid to Visa and Mastercard for using their networks. These fees are set by Visa and Mastercard and are not negotiable.

Interchange Fees are paid to Visa and Mastercard. Interchange fees are very complex. In fact, Visa and Mastercard have published a 200 page book with all of the pricing rules. Interchange makes up the bulk of the true cost of processing and markup above interchange is considered profit. SBA Capital is able to offer true interchange pricing + .10% (one tenth of one percent).

What To Do Now

The best thing you can do is simply to get a side by side price comparison. If you are paying too much you will see it right away. If you are getting a fair price you will see that too.

Simply send us two months of credit card processing statements and we will get you a free side by side comparison.

There are no commissioned sales people at SBA Capital. We will get you a free comparison with no commitment of any kind. We just recommend getting set up with a provider that services the merchant cash advance industry if you are going to use merchant cash advance funding.

Toll Free: 1-800-563-4780

E-mail: info@sbacinc.com

 

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9603 Deereco Rd, Suite 300,Timonium, MD 21093
1-800-563-4780
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