"Work Out The Details and Specifications"
You may be a very good interviewer and all you need are the detail and specification in a form so you know how to compare apples to apples in the bidding process. That is ok and we will be happy to supply whatever you need. We want your interviews to be successful.
 When a sales person is
speaking with you about a merchant service for your business
they give you the qualified, retail rates and assume that you
will process all credit cards within those rates and fee
schedule. It is not their fault that some of the transactions
fall outside those boundaries. This is why some processors
look like they are giving a very good rate when you look at
the application or their fee schedule.
Some of the
other fees you really do need to have the sales person focus
on are mid-qualified rates, non-qualified rates, AVS fees,
batch fees, statement fees, transaction fees, reprogramming
fees, annual fees, membership club fees, IVR fees, 800
and/or 900 surcharge fees and many more. With the additional
hidden fees a merchant account provider can give away free
equipment and other items because they are making their profit
on the back end. The sales person may also decide to
raise your rates in a couple of months. As the old saying
goes, "You get what you pay for", which is true most of the
time. I would prefer to see good rates and fees on the
merchant services and a good price on the credit card
processing equipment.
The details and
specifications that we will supply to you do help you with
several areas. An example of some of the items that will be
included in the details and specifications are as follows:
- What parameters for equipment and fees are acceptable?
- What is your budget for processing
equipment?
- If you do not have a budget then we
will develop a budget and place it on paper.
- How do you conduct business and
accept orders?
- What percentage of transaction will fall into the mid-qualified rates?
- What percentage of transaction will fall into the non-qualified rates?
- Is your selling structure a B to B or
B to C type?
- What equipment will work sufficient,
well or best for your business.
- Tidbits for recognizing when the
sales person is not giving the best rates.
- much, much more . . .
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THE OBJECTIVE:
"Receive good rate and fee schedules
for front end and back end merchant service charges without
sacrificing the prices for the credit card processing
equipment." We want a win - win situation for the business
owner and the sales
person.
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