The payments landscape has evolved significantly in recent years due to innovation, regulation, and shifting customer preferences due to shifting demographics and related consumer expectations. Nearly every industry has seen massive technology advancements over the past two decades but some companies are falling behind and it is costing them money.
Does your business accept credit/debit cards? If so, read this. U.S. Merchants pay approximately $90 Billion annually in payment processing fees. They are overpaying by $12-$15 Billion annually.
Did you know that routing a debit payment through the credit brands (Visa/MasterCard) can cost more than twice as much as routing a Debit payment through a Debit Network (Star/NYCE/Accel, etc.)? Even though 67% of all transactions in the U.S. now occur on a debit card more than 80% of these transactions are processed through the credit networks at a higher cost. Learn what you can do to address this problem in your business.