I recently met a new "potential" merchant and was asked to do a proposal for their business. I said I would be more than happy to do so but needed information from them to do a thorough investigation of their processing details. Let me explain how Merchant Processing Solutions does their merchant analysis!
- We request anywhere for 1-3 months worth of statements from their current merchant services provider.
- We review the 3 statements to see consistencies and inconsistencies in payment acceptance.
- Like chargebacks
- PCI Compliance Penalties
- Unusually high or low transactions
- What is the AVERAGE monthly volume and AVERAGE transaction for this merchant
- Using the statement that is most like their average volume, we dissect the transactions into types of cards accepted; consumer, rewards, business, corporate, government, and purchase cards.
- We then notice how much of their business is down face to face and how much is down with card not present.
- We use a grid that compares the current processor to Merchant Processing Solutions Inc.
- We compare apples to apples with the grid showing our prospective merchants what they can expect to save by using our merchant processing services.
- We show them the totals, savings and net effective along with 1 yr & 3 yr savings.
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