7 Ways to Save on Credit Card Processing

1. Read your statement.
   In order to save on your credit card processing you have to know what you are paying. Take note of what each of your fees are and why they are charged.
   
2. Credit vs. Debit.
   Pin-based Debit transactions have a cap on fees and Credit transactions do not. The higher the transaction amount the cheaper it is to process as Pin-Based Debit in relation to Credit.
   
3. Ask questions.
   Educating yourself on additional fees that are charged that could be avoided can save a ton on processing expenses.
   
4. Learn about downgrades.
   Transactions usually qualify into 3 categories Qualified, Mid Qualified and Non Qualified. Mid Qualified and Non Qualified transactions are more expensive. When a card is keyed instead of swiped it causes a transaction to downgrade, however if you provide a billing address zip code and use Address Verification Services (AVS) it will make the transaction Mid Qualified instead of Non Qualified.
   
5. Educate your employees.
   Make sure that your employees understand the importance of AVS and authorization fees. If a card is declined and they try to process it again you are charged another authorization fee. If they key in a card make sure they follow AVS prompts so the transaction does not downgrade as far. If you accept pin based debit, ask the cardholder credit or debit. If they say it doesn’t matter, process the card as debit, in most cases it is cheaper.
   
6. Batch your terminal daily.
   Not batching daily can make transactions downgrade unnecessarily. Transactions that would normally be Qualified will become Non-Qualified from not batching in a timely manner.
   
7. Ask your provider about programs you may qualify to participate in.
   Varies industries have incentive programs or special interchange rates that you must enroll to participate in. There are rarely any fees associated with enrolling in these programs and if there are fees they are offset majorly by the savings.

If you would like to learn more about how you can save on your processing fees, please contact the sales department at BankCard Central, 800-754-7220 or Request More Information.