At eirpoint we find innovative ways to increase our retailer’s profitability. Giving our retailers access to the best and most advantageous card payment processing services available Worldwide is part of the added value we bring to the table.
When was the last time that you REALLY examined you merchant account card payment charges in detail? Do you ignore those monthly statements that you received, mainly because they are difficult to decipher? Do you know what rates you are being charged for each card payment? Does your card payment provider share their margin with you? Are you seeing PCI non-Compliance charges being charged on your account? Are you paying a monthly rental fee for your card payment device? Does it strike you as strange that you are paying monthly rental for a device that makes the card processor money?
At eirpoint we work with partners that are transparent. They show the retailer the margin they make. We can work with you and show you how to become PCI compliant and put an end to these non-compliance charges. We also offer our retailers the option of purchasing and owning their payment devices. This puts an end to the monthly rental fees and you own a depreciating asset that your accountant can use wisely.
Most merchant account contracts work off CONTRACT prices that are also known as blended percentages. These contracts mean that your payment provider is not being upfront or transparent with you regarding the fees that they earn. Indeed, it is likely that if you are on a contract based on a blended or fixed percentage per card that you are likely paying a lot more than you should be in card processing charges.
The more transparent pricing model is known in the industry as interchange-plus pricing. Normally this payment model was only available to larger, more-established businesses. The card processors felt that they could compensate for offering lower rates by only making it available to merchants who had a very high monthly sales volume. Traditional small businesses were stuck with tiered pricing plans, and forced to pay a premium for being small businesses. eirpoint has now changed that and can now offer all our retailers the benefits of interchange+ pricing.
Accepting credit cards in your business is something of a two-edged sword. On one hand, they’re extremely convenient for your customers, which generally translates into more sales. At the same time, processing a credit card transaction costs money, and the fees associated with maintaining a merchant account cost even more money. These expenses eat into your profits and increase your overall cost of doing business. Nonetheless, as customers increasingly turn away from paying with cash and use credit or debit cards whenever possible, most businesses will have to accept credit cards to remain competitive.