A Cost-Saving Opportunity for Banks and Credit Unions
As a bank or credit union employee, you’re always looking for ways to provide extra value to your business clients. One often-overlooked opportunity lies in helping your clients save on interchange fees—the costs associated with card transactions. For B2B companies, these fees can add up quickly, especially with large transactions. By partnering with a merchant services provider who not only understands B2B processing and interchange optimization but automates it, you can help your clients reduce costs without adding any extra work for them.
What Is Interchange Optimization?
Interchange optimization is the process of reducing the fees businesses pay when accepting card payments. These fees are set by card networks like Visa and Mastercard, but with the right strategies—like submitting detailed transaction data—businesses can qualify for lower rates.
In B2B transactions, where large sums of money are involved, even a small reduction in interchange fees can result in significant savings. For example, if a client processes $1 million in card transactions at a 2.5% fee, they pay $25,000 in fees. By optimizing that rate to 2%, they could save $5,000.
How Interchange Optimization Can Help Your Clients Save Money
Helping your clients understand the value of interchange optimization is one thing, but making sure they can take advantage of it without adding more work to their day is where real value comes in. Here are key ways automation can help:
- Level 2 and Level 3 Data Submission: Automation ensures the detailed data needed for lower fees is always submitted, maximizing savings with no effort from your clients.
- MCC Classification: An experienced partner ensures your client is correctly classified to benefit from lower rates.
- Secure Payment Processing: Automated fraud prevention tools, like tokenization and encryption, help lower fees and reduce risk.
The best part? These savings can all be achieved without any extra work for your clients, thanks to automation.
Help Your Clients Save Money Without the Hassle
Want to help your clients reduce costs, improve cash flow, and enhance their overall financial health? The easiest way to do this is by partnering with a merchant services provider who specializes in interchange optimization and automates the process. This way, your clients get all the savings without any added complexity.
Ready to learn more? We’ve created a quick guide that explains how interchange optimization works and how our automated solutions can help your clients save money while streamlining their operations.
Click here to learn how you can help your clients save on interchange fees
By taking a few moments to explore this solution, you’ll be able to offer your business clients a powerful cost-saving tool, further strengthening your relationship with them.
Don’t wait—help your clients start saving today!
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