As more and more cuts are shoved down to the medical industry it is important that you cut cost and maximize profits whenever possible. Give me 90 seconds of your time and let me help you…
Merchant service fees probably isn’t where you first thought to start. They are complicated and, unfortunately, a necessary evil if you want to process credit cards through your business. Rather than paying these charges blindly, you need to make the time to understand your current rates and shop around. I can’t stress this enough so I am going to say it again but louder this time you need to make the time to understand your current rates and shop around! Got it? Good!
You could be sitting on thousands of dollars of savings that could be going right back into your business!
Equipping yourself with this information will make you an educated customer who knows the right questions to ask to keep your provider honest.
- Have my rates gone up?
- Am I PCI compliant?
- Can a different provider give me a more competitive rate?
If you do not know where to start, reach out to me or ask a business owner you know who has nothing but good things to say about their merchant service rep. Good merchant service reps are hard to find, but when you do find one, you’ll appreciate how much money and time you will save.
Do not continue to assume that the old adage of “if it ain’t broke, don’t fix it” is going to work. You could be sitting on thousands of dollars of savings that could be going right back into your business.
About the Author: Marvin Williams has worked in the medical and technology sectors since 2002. He is the founder and owner of Logical Owl, a complete technology solution company that advises on technology utilization aimed at increasing efficiency, creating value and determining strategy. He founded Logical Owl out of the frustration with all of the misinformation and shady tactics he encountered when trying to find his own technology solutions for his and his client’s businesses. He also serves as a guest lecturer at Michigan State University and Central Michigan University.