Covid-19 disruption will bankrupt some businesses

Sad but true. Covid-19 will drive some businesses into bankruptcy. That could never happen to 3D Merchant Services. My father raised me to avoid debt, save a lot, and work hard. I realize not everyone has the same circumstances and a lot of people will be financially hurt. I can help by reducing fees, making operations more efficient, and accelerating receivables payments.

My standard merchant services offer is wholesale pricing, passing through all costs plus a small mark up. Many customers negotiate a great deal, but pay extra fees for a variety of reasons. The most common problem? Transaction does not meet the criteria needed to qualify for the optimal interchange rate, thus they pay a penalty rate and extra fees. I fix that.

There are a lot of companies and individuals that promise to reduce fees and sometimes they do. However, I’ve never spoken to a single salesperson in this industry, outside of my associates, that knows as much as I do about the merchant and transaction rules and authorization management. As a result, their customers are never fully optimized to maximize profits. For example, I’ve had sales agents contact me about business card level 2 rate qualification. Why would you help them get level 2 and not level 3?

Even the companies that specialize in reducing fees only help with a piece of the puzzle, leaving businesses to seek out another solution in another year or two. For example, companies that take credit cards over the phone for non-retail sales, are wasting time; why would you have your high paid office manager get the credit card over the phone instead of just pushing out the invoice with click to pay or empowering customers to self-store cards and or use an online pay page. Properly done, it’s far more secure than manual handling by employees. Additionally, it can be cheaper interchange rates for self-pay vs phone order.

Avoid all the noise! Contact 3D Merchant Services for a merchant account checkup!

All the best, Christine.

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