al noshirvani - payment processing hidden fees

THE HIDDEN IMPACT OF YOUR PROCESSOR IS KILLING YOUR BUSINESS

Al Noshirvani CEO

Get them. Keep them. Know them™.

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Uncovering Hidden Fees

Protecting Your Reputation

Understanding The Basics



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Understanding The Basics

The Rate Game

The only rate that your business should pay for cards is referred to as interchange. There are no other rates….EVER and definitely not for an ACH.


Key Takeaway: Transactions DO NOT HAVE a “BASE RATE” associated with them and cost no more than Interchange (+ or -) $0.25 per transaction. An ACH should cost no more than $0.25.


POS vs. RECURRING

The payments game is all about risk. If a person is standing in front of you that risk is significantly reduced.


Key Takeaway: A swipe transaction should run your business no more than 3.25% and is based on card type.


Submitted vs Collected

Are your processing fees based on your total revenue collected or total amount submitted for collection?


Key Takeaway: Your processing fees should reflect the funds that you processed and collected not on the total amount submitted.


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Uncovering Hidden Fees

Credit Card Decline Fees

We have all seen the $25.00 returned check fee but when was the last time you paid a “declined credit card fee?”


Key Takeaway: While transaction fees of $0.05 to $0.25 are applicable to any submission, a declined credit card has NO OTHER FEES!


Self Service is The New Full Service™

Tools like the Card Account Updater help you maximize first time submissions and decrease unnecessary outbound calls.


Key Takeaway: The cost of an account update is approximately $0.10. Your business should not pay a processor $1.00 per update per record.


Every Decline Has A Reason

Re-bills and retries of CC and ACH are regulated by the card associations and the federal reserve.


Key Takeaway: Don’t let your receivable management company overcharge your business by resubmitting multiple times. Your business will never collect a hard decline automatically.


Its All About Cash Flow

Your business should never wait two-weeks to get your deposit.


Key Takeaway: Once your billing is processed your receivable management company has the cash in one to two-days. Demand that your business is ACH’d your money immediately.



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Protecting Your Reputation

What You Don’t Know Will Hurt Your Business

1. Late fees 2. Service fees 3. Management fees 4. PCI fees 5. Statement fees


The Company You Keep Matters


Social Media and SEO Results Your Prospects See


The Power Of Elite Reviews


Negative Reviews Impact Your Reputation

Ask Yourself…

Does my “software vendor” makes more money when my business is making less?


Thank you

Al Noshirvani CEO Mo:onso;

301.255.6400 al@mo:onso;.net hDp://www.mo:onso;.net

LinkedIn

hDps://www.linkedin.com/in/al-‐noshirvani/


al noshirvani - payment processing hidden fees

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