Reducing The Cost Of Credit Card Processing
Source One has the professional experience to provide guidance in streamlining your merchant account structure, leveraging our category expertise to negotiate best possible pricing, implement best-practices in security and compliance, and utilize additional value-adds to align with your retail and e-commerce goals.
Whether you are domestic, regional or global, keeping up with the ever-changing landscape of payment processing can be a challenge for even the most agile organization.? If core suppliers are unable to quickly adapt to new technology and regulation changes, niche suppliers may need to be adopted, leading to higher costs, and a decentralized management and reporting structure.? We understand the importance of selecting a merchant service solution that supports your overall business by operating as a strategic partner and enabling you to continue to drive value and innovation as your organization grows.
Source One has experience in addressing the challenges associated with every stage of the card processing cycle from customer swipe to the settlement of funds. Our purpose is to help your organization gain a competitive advantage by improving relationships with your incumbent merchant service provider(s), or assisting you in the selection of one(s) better suited for your needs and corporate culture. Our strategic sourcing services provide the means to deepen relationships with incumbent suppliers by improving transparency and identifying unpenetrated areas of value.? We also possess the market intelligence and supplier identification services necessary to identify best-fit suppliers in the market.
Our process always begins with developing a deep understanding of your current transaction profile and merchant service needs.? We align any immediate improvement strategies with your future expectations, developing a forward-facing plan of action that will create both short-term and growth-influenced value in the form of hard and soft savings.
Our suite of strategic sourcing services will allow you to:
- Identify consolidation opportunities within your incumbent supplier base, centralizing reporting and account management functions.
- Leverage your organization’s transaction profile and market intelligence to realize the best possible payment processing and acquiring fees.
- Implement an Omnichannel retailing solution, promoting a seamless customer experience from mobile to desktop to brick-and-mortar transactions.
- Audit internal processes and suggesting efficiencies
- Re-configure set-up to achieve the best interchange industry rate
- Increase transactional efficiencies
- Select a partner that will provide best-in-class support in:
- PCI compliance, maintenance and liability management
- EMV transition and fraud minimization
- Quick fund settlement & Chargeback management
- Integration into ERP systems
- Optimal PIN Debit routing
- Alternate payment method support and implementation (Apple Pay, Mobile Wallets, Etc.)
- Global payment processing and foreign exchange risk solutions
- POS terminal installation, maintenance, and upgrades
In addition to negotiating merchant account contracts, we do the leg work to make sure that your merchant account agreements are written in your favor. We align your credit card processes with your company’s needs to ensure transactional costs are accurate. Our expert team of merchant account processing sourcing professionals is well-versed in interpreting merchant account agreements and renegotiating the cost structures of credit card transactions including:
- Tier pricing
- Interchange Plus pricing
- Bill Backs
- Nuisance fees
- Monthly minimum fees
- Early Termination fees
- Chargeback fees
- Customer Service fees
- PCI Compliance fees and processes
- Card Association Fees
- Card Category analyses
By applying proven strategic sourcing methods, Source One adds additional expertise and resources to your existing procurement department to help you negotiate with merchant account vendors and to help run your retail transactions efficiently.
Whether your organization calls for a comprehensive processing, acquiring, and global gateway solution or finding the correct balance of multifunctional and niche service providers, Source One will act as your advocate to make sure you are negotiating the right price and value to meet your organization’s credit card processing needs.
Merchant Account Cost Reduction
Reducing Retail Costs
With multiple locations, varying hours of operations, and new market investment, retailers have unique sourcing needs which can be serviced by a team of highly experienced sourcing professionals. Source One provides retail clients with an opportunity to increase internal capabilities, add flexibility to vendor management, and enhance vendor-retailer collaboration.
Contingency Fees Based on Hard Dollar Savings
Our fee structure provides you the flexibility to utilize our expertise while not assuming the risk of upfront costs. Unlike some consulting companies, our contingency framework is based on the actual hard-dollar savings we accrue for you. By providing full-cycle sourcing services, we help your internal staff implement and manage change while evaluating and reporting your savings in a meaningful way.
Cost Reduction on Contingency