06 Jan New Year’s Resolution: Save Money This Year by Switching to AdvoCharge and the Interchange Pricing Model
After a tumultuous holiday season many business owners along the Front Range in Colorado are dusting off their playbooks and deciding how to move forward in 2015. With the economy picking up, particularly right here in Colorado, smart companies are positioning themselves to take advantage of the current upswing and improve their bottom lines. One of the best ways to do this is to invest the requisite time to make some smart decisions about how your company handles credit card processing.
At AdvoCharge, we are dedicated to offering our customers the best and most transparent credit card processing services available. As such, we use what’s called the Interchange Pricing Model to give our clients a clear picture of what they are actually paying for. One of the favorite tactics of unscrupulous credit card processing companies is making sure that it’s impossible to understand which fees correlate to which service. The Interchange Pricing Model eliminates that ambiguity and gives our clients an honest, reliable view of their fees.
The Interchange Pricing Model is essentially a charge that occurs between two banks for the acceptance of credit cards. Normally it occurs between your company’s bank and your client’s bank. There is nothing particularly revolutionary about this model, but AdvoCharge prefers it as an offering because it offers greater savings and transparency than alternative pricing models. Be careful of companies that offer a fee structure tied to your company’s volume (ironically called a discount rate). Many also charge per-transaction fees, which can add up very quickly if your business is making a lot of sales.
One of the things we like best about the Interchange Pricing Model is that when combined with our at-cost processing rates and flat monthly fee we are able to offer unparalleled savings to our clients. We only charge 10% of the savings we generate for you, which means our fee structure incentivises us to save our clients money. On average, our clients are able to save between 70% and 90% versus other credit card processing companies. Those are numbers we can be proud of.
If your company is looking to save money in 2015, we hope you’ll make a New Year’s resolution to give AdvoCharge a call. We’d be happy to answer any questions you have about the Interchange Pricing Model or any of the other services we offer.