You may think that credit card processing fees are just a part of the course when you run your own golf course. And paying about 3 to 4% in the fees on every transaction and carry on your day. Think again.
Do you know that you can completely eliminate credit card fee processing, if No. Then em gonna tell you how to offset credit card processing fees? In just a couple of lines.
You don’t have to pay your hard-earned dollars to a payment network or bank. You can keep 100% of your revenue and that’s your right.
You might think it’s just 3% so why bother? But in reality, it will boost your profits more than you think. What if 3.5% paying on each transaction is might not seem to be a lot, but these fees really increase over time.
Now, we know that there is so much competition out there, and keeping as much revenue in your business pockets as possible can surely boost your profits by more than a lot means almost about 10%.
But spending this hard-earned money on something like credit card fee processing is just a waste of money. There is another way to waste it: why just throw that money away?
I just got your attention now. Did I?
In this article, I’ll show you how to offset credit card processing fees no matter what industry you belong to or are from.
You can get rid of the transaction fees forever and can earn more money, and get on a path to a better financial future.
There are a lot of strategies and advice to offset credit card processing. And you can follow any of them to help, reduce the financial impact of the transaction fees on your business.
These are as follows:
- Lower expense operating
- Increase prices of sticker
- Set a minimum for using the credit card
- Avoid entering credit cards info manually (this leads to higher fees)
- Negotiate with your credit card manager
- Use a cheaper payment processor
- Implementation of a credit surcharge program is better.
Some of these just work better than others but many of these tips are time-consuming.
So I’ll outline a two-step strategy (involving a combination of some of the above tips) to offset your credit card processing fees rapidly and easily.
Why we should know how to offset credit card processing fees?
To understand why you must offset credit card processing fees, Let’s take a look at our two-step.
Step 1: Get the best merchant service, provider.
There are plenty of bad payment processors out there and no matter what business you run, it can’t be done with a bad payment processor.
There should be no surprises when discussing fees with an MSP, it should be clear that how much you’ll pay per transaction or per month.
MSP markup can be negotiated and it is to be noted that the fees are not set in stone. But you can not talk about the network fee, assessment fee, or interchange fee.
Getting an MSP markup a little down shouldn’t be too difficult if you have business with great volume and revenue. Doing so has helped businesses and companies save thousands of dollars over the years.
Step 2: Implement of a credit surcharge program.
Without having to pay fees, 100% legal and compliant, credit surcharge programs have allowed businesses to accept credit card payments.
In your existing credit card processing system surcharge solutions can be integrated.
And this is the easiest way to the question of how to offset credit card processing fees.
Go get started?