10 Minutes Could Save Your Business Thousands of Dollars
Why You Are Likely Overpaying
The processing industry is confusing, complex and often deceiving, making it easy for processors to grossly overcharge merchants each month without the merchant even realizing it. Often business owners can’t understand their own statements, despite being a major expense, and are unaware of what a competitive rate looks like. Some processors will quote a low rate before signing a customer, but will not disclose hidden fees and other charges.
What We Do
CP Saving Consultants is an independent consulting firm helping businesses save thousands of dollars on credit card processing fees. We analyze a client’s current fee structure. If the rate is not extremely competitive, we will negotiate a competitive market rate with the client’s existing processor. A benefit of our service is the vast majority of clients do not have to go through the hassle of switching processors.
Why Choose Us
We have expertise in the complex credit card processing industry and can maximize savings by negotiating lower rates. Clients save money, time and a big headache by working with us. Many clients believe they are getting a good deal with their processor when in fact they are being ripped off.
Why You Want Interchange Plus
There are two main rate structures: “Interchange Plus” and “Tiered Pricing”. Interchange Plus is a wholesale rate (Interchange) plus a markup for the processor. We recommend Interchange Plus with a modest markup because it is the most transparent, fairest, and least expensive option. Interchange Plus used to be exclusively available to large businesses, but due to heightened competition among processors, is now offered to all businesses.
What you do not want is “Tiered Pricing”, where processors charge different rates for various categories such as Qualified, Mid-Qualified, and Non-Qualified. If you see those on your statement, then you have Tiered Pricing and are probably overpaying. Processors like to quote the lowest tiered rate during a sales presentation and conveniently fail to mention the more expensive rates, resulting in higher fees than the initial low quote. The bottom line is with Tiered Pricing there is a lack of transparency which enables high fees and a large markup for the processor.
Free Initial Analysis
Taking 10 minutes to e-mail or fax your most recent processing statement could save you thousands of dollars. We will analyze your current pay structure and rate to see if we can save you money. We will contact clients in 5 business days after receiving the statement. There is no fee for this service.
In most cases, we can achieve significant fee reductions. The average is over 25%. Processing fee savings immediately increase profits and will recur year after year.
Examples of Savings
Hair Salon Old effective rate: 3.0%» New effective rate: 2.0%.
33% reduction in fees
1 Year savings $8,000
5 Year total savings $40,000
Automotive Group Old effective rate: 2.6% » New effective rate: 1.3%. 50% reduction in fees
1 Year savings $12,000
5 Year total savings $60,000 Note: Effective rate is all processing fees divided by processing revenue Our Fee
Our only fee is 20-30% of the first year’s annual savings achieved, which is below our competitor's rates. If there is no savings, there is no fee. If processing revenue is over $500,000 per year, the fee is 20% and if less, the fee is 30%. The client keeps 100% of the savings in all future years. After we review the first statement with the new lower fees, we will email an invoice.
Independent, Unbiased Consultants
We are not affiliated with and do not represent any credit card processors and are truly independent. We receive no form of compensation from processors. Our clients are the first and only priority.
Getting Started Email or fax your most recent processing statement for a free analysis or contact us to learn more:
Tel: (832) 444-4980
Fax: (480) 287-9878
CP Saving Consultants- 1155 Mariner Cove, Sugar Land, TX 77498 - (832) 444-4980 - Email Us
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