Rate Watchers
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Rate Watchers
We negotiate and maintain the lowest merchant account rates and fees for your business without switching credit card processors. Guaranteed.
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Why You're Paying too much
You’ve probably heard the term “interchange.” Do you know what it is? Simply, interchange is the non-negotiable, true cost the credit card companies charge to process a credit or debit card transaction. It can be difficult to understand; the interchange rate for any particular transaction is determined by multiple factors like card type, processing method and card reward programs. Because interchange rate for a transaction depends on so many variables, it takes literally hundreds of interchange tables to determine the true cost of each transaction. Processors use that complexity to their advantage, driving up their profits by taking more money out of your pocket. Here are a few of their tricks:
- Confusing Statements
They fill your statement with hidden fees and cryptic line items that are almost impossible to understand. You can’t negotiate cost if you can’t determine what you’re actually paying.
- Misleading Rate Structures
Processors market their best rate, not the “downgrade” rates you’ll pay on most transactions; suddenly you’re paying more than you expected.
- Unfair Fees
Each transaction is accompanied by additional costs; if you get that simple rate you were promised, it’s coming with a pile of fees on top of it.
- Introductory Pricing
Processors often use promotional pricing to incentivize you to switch. Once they have your business, they roll out the rate increases, one after another until that promotional rate is long gone.
Our Mission
Our mission is simple. We use our payment industry experience and expertise to save you money, keep your processor honest and protect your bottom line.
You need credit card processing to run your business and accept credit and debit payments. You also need Rate Watchers to advocate for you and make it affordable. Processors have thousands of employees working to drive their profits, you should have someone on your team.
Our service eliminates the frustrations that accompany operating a merchant account. You’ll be sure you aren’t paying more than you should and know you’re protected from rate increases and new fees. That’s the benefit of our continued vigilance.
How it works
INTERCHANGE ASSESSMENT
We analyze your merchant statement to determine exactly what you pay in non-negotiable interchange, and exactly what you pay your processor in added fees.
NEGOTIATION
Once we know how much “extra” you’re paying, we negotiate directly with your processor to remove excessive rates and fees.
ACCOUNT MONITORING
Processors will use changes within the payment industry as an opportunity to inflate your rates and fees to increase their profits. Our “Watching Service” monitors your account to ensure you continue to pay the lowest possible processing rates and they can’t sneak anything into your bill.
Services
- Statement Conversion
We use our industry expertise and knowledge to convert your complex statement into a clear and simple document that shows how much you pay in interchange and how much you pay your processor.
- Rate and Fee Reduction
We negotiate with your processor to establish the lowest merchant account cost for your business. This happens on your behalf and does not require switching processors.
- Watching Service
It may not happen the next day, week, month or even year. But your processor will almost always eventually sneak in a new fee or increase your rate at some point in the future. You can upload your statements and we will analyze and convert them to a clear and simple document as often as you like. If your processor imposes a rate increase or implements a new fee, we’ll be there to negotiate on your behalf.
- Industry Alerts
Changes in the payment industry are common. That’s why we notify you when something changes and how it will impact your business.
- Guarantee
We offer a 100% money-back guarantee. Your cost savings will be greater than our fee. If we can’t offset our costs, we will refund your money. All of your money.
FAQ
- What is interchange?
- Is it possible for me to negotiate the lowest processing rates and fees on my own?
- Why is it so difficult to understand my processor’s statement?
- Is my processor willing to negotiate my rates and fees?
- What if you can’t lower my fees?
- What makes you an industry expert?
- How does your pricing work?
- Do you help new business owners establish a merchant account?
Interchange is the actual cost to process a credit or debit card, determined by the credit card companies. This portion of what you pay is non-negotiable.
Yes. It’s possible. It is, however, very unlikely. Here’s why it’s so hard. There are literally hundreds of different interchange rates that depend on multiple factors like card type and transaction method. It takes a great deal of time and effort to understand all the relevant information and to make sure your knowledge is current. To make it even more difficult, exchange rates are not advertised, finding the information is a task unto itself. And consider this. Every minute you spend negotiating and investigating these rates is a minute you can’t spend focused on your business.
Processors do a great job of blending your costs together, hiding what they charge you on top of interchange. That’s why our statement conversion is so valuable. It shows you exactly what you’re paying in interchange and what you’re paying to your processor.
TThe short answer is “Yes.” The long answer is that in this extremely competitive industry, your processor will most likely be willing to do anything they can to keep your business. The key to unlocking that negotiation is speaking the language and having the industry knowledge.
That’s where the guarantee comes in. If you already have rock-bottom rates and we can’t save you money, we’ll refund 100% of our charges.
We have years of experience in the payment industry, including management roles in both sales and finance. We understand how processors package, market, and sell to merchants. Most importantly, we understand how to lighten the burden of high payment processing costs on your business and save you money.
Our pricing is transparent and simple to understand, exactly the opposite of the payment industry. Most of our competitors charge a percentage of your savings for a set amount of time, usually half of what they save you for three years. Rather than work from a percentage of a percentage, we kept our pricing simple. You pay a flat monthly fee based on your monthly processing volume. If we don’t save you more money than our fees cost, you get your money back. That means you don’t have any out-of-pocket expense. Our clients always have more money in their pockets after they become our clients. Every single time.
NNot at this time. We chose to avoid the possible conflict of interest that could arise from working with the processor or the perception we’re being paid a commission. We work for you, and you only.
