You probably get calls all the time from people trying to get you to switch over your credit card processing. You hear all the promises about all the thousands and thousands of dollars that you will save. You may even have taken someone up on one of these offers only to find a few months later that your rates really aren’t any different. Sure, they may have lowered you “qualified rate” but they may have raised your rate in another line item just to make up the difference so you are left paying just about the same amount that you previously were.

How to Save Money on your Credit Card Processing

If you have tried to do this a few times already but without any luck, it does not mean that you are doomed to paying the same high discount rate or transaction fee for the rest of your days. You just need to find a reputable company out there who is willing to do the legwork and actually PROVE to you that you will end up saving money by switching over your merchant account.

So how can you tell if you’re dealing with a company like that? The first thing that you want to do is to ask your representative for a detailed rate analysis. Don’t accept just a plain text email saying something like, “You’re paying 1.7%, and we’ll lower it to 1.6%.” That’s totally bogus. There is so much more to it than that, that if you’re representative thinks that he or she can actually break it down for you this way, he or she probably has no idea how it all works.

The truth is that there can literally be hundreds of different line items that go into how much you end up paying at the end of the month. You want to work with someone who is willing to address each of the applicable line items and show you line by line, exactly how much you are paying now, and what they are proposing to lower it to. Keep in mind that they may not actually lower every single line item, but the proposed rates may still show you savings at the end of the day. For example, if you are paying 1.5% and $0.25 per transaction, but you run a lot of transactions each month, it may make sense to pay 1.59% and $0.18 per transaction. Even though they proposed RAISING your discount rate, the overall savings on the $0.07 that your transaction fee would be lowered would more than make up the difference.

You may ask, why would someone do that? Why would they opening admit that they are raising a certain line item from your previous credit card processing rates? The answer to that question is more than likely that the person you are working with is an honest person and wants to be totally transparent. They are willing to walk you through and take the time to explain how everything works, and they would rather propose a fair rate structure rather than making you think that you are paying 0.05% but then charging you $10.00 per transaction (slight exaggeration there, but you get the picture).

Call Sure Payment Solutions

Call us here to find out exactly how much money you can save. On average, our customers save $40-$50 every single month by utilizing our services compared to their current credit card processing rates. That adds up, believe me. So give us a call and we’ll give you a free consultation and a full rate comparison, and we’ll make sure you have all the information you need to make an informed decision.

There’s a lot of talk in the news and around the world regarding the state of the global economy.  Many people trace back the problems to the US mortgage crisis, but its difficult to ignore the debt problems and commodity issues around the world.  At the end of the day, money is tight for 99.9% of the world and there’s just no easy solution that can be mutually agreed upon.  Analysts, strategists, and financial planners are doing their best to predict where this winding road will go in enough time to steer the ship in a more favorable direction, but the situation we are currently in is unlike any other in history and we are all learning as we go.

From our perspective, we see a lot of small businesses struggling to get by.  Most suppliers and vendors have eliminated credit terms and raised prices to maintain certain standards in their own businesses and this has put a squeeze on many business owners.  In addition, consumer spending continues to walk a fine line.  Many business owners are also hesitant to take on any debt during this time for fear that it could create a cash flow issue somewhere down the road, and it is this concern that I’m most inclined to address.  Fear is a powerful motivator, but it can also paralyze us from acting.

While it may seem like wisdom to be cautious of entering into a financing agreement, the way the economy grows is through small business expansion and lending.  You may be able to maintain the status quo for a while, but eventually improvements will need to be made, renovations perhaps, and its important to continue to update product lines and services to better serve your clients.  All of these things cost money and unless you have a surplus laying around, you will probably need financing at some point in the next few years.

As is understandable, lending markets continue to tighten up and for many companies, existing, performing accounts are the only ones getting money anymore.  Securing a reliable business funding partnership is almost more important than the financing itself.  When the economy goes bad, history, and comfort go a long way towards rebuilding, which is why it is so important to establish a funding partnership now, before the economy gets worse, or before lending availability dries up.  So even if the need for funding is not immediately present, it may be a good idea to secure a partnership with a lender now so that when you do have need, you will have a place to turn for quick and easy funding.

There are already a number of lenders in the market who are not accepting new applications and are only servicing existing clients, and they are the businesses that are most likely to survive any economic turmoil thanks to the partnership.  We have excellent loyalty programs at Sure Payment Solutions and work tirelessly for our existing clients as much as we do to create new relationships.  So don’t hesitate to establish a partnership with us, it promises to be mutually beneficial for years to come as we weather the economic storm together.

It’s hard to believe its that time of year again, but let’s face it: Summer is over, fall is just around the corner, and that means we’ve got a plethora of holidays coming up and business owners are looking forward to a strong end to what has been a tough year for many people.  And so now is the time to stock up on inventory, make some small changes to ensure you’re products and services will stand out above the rest, and do some extra advertising.  Of course, all of these things cost money, and often at this time of the year, business owners don’t have a lot of extra cash laying around having just finished up August (an infamously slow month for most businesses).

Vacations are over, and its back to the drawing board preparing for a strong end of the year run, looking ahead to black friday and the holiday season that follows.  For many businesses, the holidays begin now as we look forward to Halloween and Thanksgiving as well as the December holidays.  We know financing can take longer than expected to secure, so now is the time to look for that extra bit of cash you need to make a strong push towards the end of the year.  Our funding programs are ideal as they are short-term, inexpensive solutions that will help you bolster your cash flow today without crippling you as you go through the holidays.

One of the nicest benefits of our funding solutions is that there’s no limit to how you use your cash.  Not only do you have the freedom to choose how to allocate your funding proceeds, but you aren’t even responsible for putting together a specific business plan to that effect.  Many business owners are fearful of taking on any debt or financing right now in light of the shaky economic conditions, but fear is the death of capitalism and when fear paralyzes us from acting in our own best interest, we have already decided to give up.  A small amount of funding can go a long way if you spend it wisely.  Renovation, new product lines, new signage, and new marketing strategies are all affordable, wise uses for funding that should help improve your business enough that the cost of the funding is negligible.

Here at Sure Payment Solutions, we specialize in retail, restaurant, and other tier 1 merchants.  We’re making a push towards the holiday season with our eyes on helping as many businesses as possible get through this hectic time of year with the funds needed to make the best of it.  Our funding specialists are standing by the help place working capital for you today.  Apply now, and you’ll be sure to have some cash lined up just in time for the holiday season.  Let’s make it a strong finish to this turbulent 2011 together.

Here’s a link to an interesting article in Business Week about the ups and downs of being self-employed and owning/operating a new business over the past 4 or 5 years.  There are a bunch of interesting statistics describing how people have been forced into starting their own businesses but have struggled through the process.  The article is extremely relevant to the core of our business which is all about helping small business owners save money, acquire working capital, and sustain a working business.

This article takes the angle of looking at the importance of creating jobs by assisting new businesses in opening and staying open, something our economy has not done a very good job at over the past 5 years.  I highly suggest any small business owners or entrepreneurs take a look at this and consider the available funding options and take the necessary steps to ensure you’re able to stay on your feet.

It’s no secret that the amount of lending going on in this country is down as compared to pre-recession levels.  The NY Times article I posted yesterday seeks to blame the lack of lending on the business owners of America.  They claim that applications are down due to a general fear among business owners in regards to taking on debt.  The claim further goes on to state that business owners aren’t concerned with growth right now, instead they are simply concerned with staying afloat.  While it should be every business owner’s goal to stay afloat, growing and staying afloat are not mutually exclusive and any business owner who is not constantly looking to grow and expand is deciding to throw in the towel.  So, we’re here to encourage you to think about growth and imagine how you can take advantage of the current state of things to grow your business instead of sustain it.

Others, like myself, believe that the lending markets are down due to excessive declines by the nation’s lending firms, banks, and credit unions.  And that it is these declines that have stopped business owners from applying for credit.  There is the stigma out there that no one has any money to lend and capital is simply not changing hands despite low interest rates.  While this may be true of traditional banks and other lenders, it is not true for entire financial community.  In fact, in the wake of the first recession, many companies sprouted up to offer loans and loan alternatives to small business owners.  The recession was viewed as an opportunity to help the struggling business owners.

That’s pretty much where we are now, with hundreds of independent lenders seeking out small businesses that require financing.  One of the major problems with this system is the box that each of these lenders prefers their clients fit into.  The target market is so specific that it’s difficult for business owners to apply for the right kind of financing with the right company.  Luckily there are many companies whose sole purpose is to match a lender and a borrower together so that they do not have to search for one another anymore.  This matching process involves many steps but the most important is the industry type.

Most lenders offer funds to only a handful of specific industry types and any other applicant is declined simply for the type of business they run.  While this is very common, it is also very undesirable.  We’ve launching a new industry specific lending program designed to make a realistic and fair offer to any applicant no matter the industry or size of the business.  This is not to say that there won’t be declines, as there will be.  This is to offer everyone a fair chance at some financing regardless of their industry type.  In addition, we’ve broadened our programs to create stronger offers for the industries that have historically excelled with this program.

We’re confident that we’ll be able to provide you with some form of financing or working capital regardless of your business type.  The one restriction we have still yet to get passed is the time in business filter.  We have not found a successful way to navigate the start up market yet, despite trying our best to offer everyone a chance.  Still, we are working tirelessly to create a funding product for start ups that we hope to be ready for the launch of 2012.  Check back occasionally for more updates regarding new funding programs we are rolling out.