Switching credit card processors is a major decision for a business. Their new processor may have new equipment or a new type of monthly statement to read. Either way, it is something that should not be a hasty decision. At MAX, the first step we take in assessing the amount of savings present is by looking at the business’s statement.
By looking at their current credit card processing statement, we are able to see their current rates and pricing. Often, it takes a closer look to see hidden fees. For example, it is common practice for some processors to hide fees into the interchange rates. We coined this process “padding the interchange rates.” When we uncover this, we go line by line to see what the merchant is being charged.
Savings is the leading reason to switch credit card processors. When someone gives us their statement, we provide a detailed file that explains their current rates and their new pricing with us. This enables us to be as transparent as possible. By showing all of our rates outlined in a file, there are no surprises for the merchant when they sign, and they also know what their previous rates were.
The bottom line is that we are trying to help as many merchants as possible. That is the reasoning behind our explaining their current rates and their new rates. If the deal you have is tight, we let you know! We pride ourselves on our reputation and our ability to save merchants money honestly and with clarity.