Case Study-Tricky sales tactics
In an industry where tricky tactics are often prevalent, we help businesses manage their payment acceptance and avoid typical industry tactics. Recently, one of our clients received a phone call stating there was a billing error on the processing statement and to send the statement to them so they could fix it. During this phone call, our client recalled receiving Merchant’s PACT audit letter results that informed them there were no billing errors on their most recent statement. As a result, they knew the call was not factual and that it was a solicitation. This was simply an unscrupulous sales tactic employed by too many processing companies. This is just one example of how we keep our clients informed about their processing. Keeping our clients informed and being available to answer questions or concerns allow our clients to be knowledgeable about their processing and less susceptible to common industry sales tactics. In fact, in most cases when our clients receive processing solicitation calls, they simply tell the sales person to contact Merchant’s PACT and if it’s a good deal we will let them know.
Merchant’s PACT provides businesses with a trusted adviser for their merchant processing. Whether it is uncovering billing errors or rate increases through our quarterly audits or helping to field phone calls from processing companies that promise to beat our clients existing rates, we always have the best interest of our clients in mind. It is our goal to provide the best value, advice, and savings to protect businesses and improve their bottom line.
Case Study-Bank recommended provider and low initial payment card volume
A small printing shop, with low payment card volumes had declined our services in 2013. At that time the business owner had been with their current provider, recommended to them by their bank, for almost a year. Our initial consultation showed annual savings of just over $500 per year AFTER Merchant’s PACT annual advisory fee. In 2013, the business felt as though moving forward was not necessary because the savings was not significant. The business trusted that their processing deal would stay in place; after all, their bank had recommended the provider. Thus, the business did not contract with Merchant’s PACT and did not review and monitor their monthly billing statements.
In 2015 the business decided to review the merchant fees and noticed an increase from original fees they received in 2013. They contacted Merchant’s PACT and after an updated review we determined that due to increases in fees over the previous 24 months, the annual savings would now exceed $2,500 per year. After this second consultation, the business became an official client of Merchant’s PACT. While our client was eager to begin saving, they were also frustrated by the amount of money spent on card processing the past two years. If they signed with Merchant’s PACT in 2013, they would have saved approximately $3,000 over the previous 24 months and avoided the fee increases.
Case Study- Multiple locations with integrated Point of Sale (POS) system
A restaurant operator with 8 locations had an integrated POS system that made switching processors very difficult and expensive. Although their rates had increased, the only thing they could do was contact their current provider who would slightly lower the cost, but never substantially lower the amount. The business did not know the controllable vs. uncontrollable processing costs. While the restaurant operator had investigated transitioning vendors multiple times over the years, they felt the cost and time to transition to a different processor would outweigh the savings.
This business was referred to Merchant’s PACT. We were able to work with this client and their current provider to renegotiate their deal. With our knowledge and expertise, our client is saving over $12,000 annually AFTER Merchant’s PACT annual advisory fee.