Why do we need to see a Merchant's Statement?

Unlike many Merchant Services Agents, we actually have a valid reason for asking to see a recent card processing statement. In order for a merchant to begin entertaining the idea of switching processors yet again there must be an amount to be saved each month, in writing. It is impossible to give a number, accurate or otherwise without first seeing:

1. What card types comprise the majority taken, i.e. ATMs, Regular Consumer Cards, Rewards, Business, Corporate, Purchasing Cards, etc. Visa and MasterCard charge different amounts for each these card types.

2. How many are Commercial Cards. Is the merchant correctly set up to input the extra information, (invoice number, sales tax amount, etc.), in order to keep these cards from downgrading? Visa and MasterCard also charge different processing amounts, depending upon the information entered at the time of purchase.

3. What is the average ticket? Is it an industry that will qualify for the special Small Ticket Program?

4. What is an average monthly volume? We can’t get a savings number without knowing how much is being processed each month.

5. What Junk Fees are currently being charged, with which we can simply eliminate.

Only after actually analyzing the statement(s), can anyone give a true “apples to apples” comparison, showing real Dollars in savings each month.

Unfortunately, Agents have been known to change a penny somewhere and give a very inflated savings figure, or simply move existing figures around, changing nothing and give the same overstated expectations, or worse, raise rates, while offering the same promise. It is no wonder why Agents neither answer nor return calls after the terminal has been reprogrammed.

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