Every year, businesses pay approximately $180 billion in credit card processing fees. These fees are convoluted, confusing, obscure, and often misleading. Credit card companies make money off cardholders in a wide range of ways and their income has been experiencing solid growth for years. They charge for
- Interest Income
- Interchange Fees
- Cash Advance Fees
- Annual Fees
- Penalty Fees
- Enhancement Income
Credit card company made 163 billion of these Incomes in 2016 from Businesses & Individuals. This money comes from the bank account of business who happens to be your client or whom you work for. In this session, we will look behind the curtain of the credit card processing industry and show you how the card brands and banks operate, common red flags that could complicate your fee structure, and ways that you can reduce or eliminate unfair or inflated processing fees within your merchant account. In this FREE CPE WEBINAR we shall cover:
- History of Credit Card and credit card processing industry.
- Credit card industry: Understanding the structure.
- Understanding the fee structure and who benefits from these fees.
- How to mitigate fees without changing the credit card processor.
- What is surcharging? And is it legal? Benefits and Drawbacks of credit card surcharging.
- How surcharging should be done? DIY or basic methods that can help you reduce your credit card fees.
- Merchant account audits – the higher saving approach.
- How Merchant account audit proves to be beneficial for different Industries?
- Involvement of different entities in Merchant Account Audits.
- Understanding of Ideal Audit Process.
- The working process of Verisave to reduce credit card surcharges.
RECOMMENDED FOR :
CPA or Accountants or Tax Professionals : This webinar will give you insights on advising your clients on how to significantly reduce your credit processing fees and will help you in being a valued advisor.
CFO, Staff Accountants, Director of Finance, Controller : you are always expected to improve bottom-line of your company, this webinar will help you in understanding step by step how you can really reduce your company’s credit processing fees up to 50% and that too without switch processor.
