A business’s success oftentimes depends on thriving revenue and cash flow, making cutting monthly fees and saving money of utmost importance. One example of a monthly fee that consistently eats into revenue is a monthly credit card processing fee. Many business owners receive this bill, pay it and never think twice about it because they believe it can’t be lowered. The truth is, however, there are merchant processing companies that can lower your cost by offering transparent monthly fees and no contract, significantly reducing your bill each month.
Below are key elements to understanding your monthly payment processing statement, and some red flags to look for that indicate you should switch processors...