Lower Merchant Service Costs
Are Credit Card Processing Fees Negotiable?
February 2, 2015
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The Truth About Merchant Services and Credit Card Processing

Savings Donnie Troy Achieved

Wouldn’t you like to turn down the next merchant services company vying for your business with confidence that you already have the best solution with the lowest possible rates? This is actually possible. If you’re not confident or don’t know how much you are overpaying to accept credit cards, join the crowd, because most businesses don’t.

Every service is not the same, and everyone’s fees don’t add up to about the same amount when it’s all said and done. The truth is, there are several ways to set up a merchant account. Each way except ONE is confusing, misleading, unclear, dishonest, and the list goes on and on. The ONE structure that I am talking about is transparent so you can see exactly how much you are paying above true cost.

Merchant Account Structure Simplified

Because it can be broken down into two categories: Cost and Markup. The cost is exactly what it sounds like. It’s the actual cost to process a credit card. Each different credit card on the market has its own cost to process or accept.

Check out this link showing all the costs to process Visa credit cards: http://bit.ly/MIX00J. These rates are non-negotiable. They are set each year by the credit card issuing bank and credit card companies (Visa, MasterCard, Discover and AMEX). Does your current credit card processing statement show you all the rates you paid? If not, then you don’t have the ONE structure.

The markup is also exactly what it sounds like: it is the pricing above the cost, determined by your credit card processing company and/or the sales agent who got you started with that company. The markup is the sole source of income for the processing company. They receive payment every month based on the markup structure.

The cost is, or at least should be the lion’s share of fees that you pay each month. The problem is, every structure except for the ONE, hides what the actual cost is. These other structures combine or hide the markup within the cost so what you think is cost, really isn’t. With the amount of support you receive and the required maintenance of your account each month, don’t you deserve to know exactly how much you are being marked up over true cost? After all, it is your money!

With the ONE structure, the cost and markup are separated. It is transparent so you can identify and feel confident about what you are paying for!

Here are instructions on how to calculate your overall/effective rate. You can then use the bench mark rates below from merchants on the “ONE” structure to see how you compare.

1: Total your volume for the month

2: Total every single fee shown on the statement or taken out of your bank account

3: Divide your total fees by your total volume

4: This calculation will give you your effective rate.

Here are some examples of what businesses’ achieve for results on the 1Quest Payment Program. We will be happy to show you actual statements as proof at the time of your free 10-15 minute consultation. The following examples are real results and include ALL merchant fees.

Business Fees / Volume = Effective Rate Savings per month
Example 1 $1,304.02 / $80,180.62 1.62% $500+
Example 2 $239.02 / $24,153.00 0.98% $250+
Example 3 $695.61 / $41,388.48 1.68% $200+
Example 4 $2231.95 / $135,549.36 1.64% $500+
How does your business match up?

1Quest Payment is here to do the hard work for your business so that you too can save huge amounts each month.

Donnie Troy
Donnie Troy

1Quest Payment’s mission is to help as many merchants as possible find the best credit card processing solution so they can focus their time and energy on growing their business. Contact Donnie today, call 1.800.413.7573 or use our contact form