As the leaves change and pumpkin spice fills the air, it’s the perfect time for small business owners to take stock of their operations and explore ways to boost their profitability. At ALTOR Processing, we’re not just your trusted credit card processing partner; we’re also committed to sharing valuable insights and best practices to help you succeed.
Did you know that October is an excellent month to review your credit card processing fees? Many businesses tend to overlook (or DON’T EVEN LOOK AT) the fine print in their merchant service agreements or the fees on their statements, which can lead to unnecessary expenses. We are here to help you decipher those complex contracts and find opportunities to save money.
Here are some little-known facts and best practices to consider:
• Interchange Fees: Understand the different types of interchange fees and how they impact your bottom line. Our team can help you navigate these fees and identify cost-effective solutions.
• Payment Technology: Stay up-to-date with the latest payment technologies, such as contactless payments and mobile wallets, to enhance customer experience and security.
• Data Security: Protect your customers’ data by complying with Payment Card Industry Data Security Standard (PCI DSS) requirements. Non-compliance can result in costly fines and reputational damage.
• Customer Education: Educate your staff about fraud prevention and how to identify suspicious transactions to safeguard your business and customers.
• Rate Optimization: Regularly review your processing rates to ensure you’re getting the best deal. We can help you negotiate with your provider or find more competitive options.
ALTOR is not just your credit card processing partner; we’re your business ally. Contact us today for a free consultation and let us help you save money while growing your business this October and beyond.