How to reduce transaction processing fees
New York, NY – (June 11, 2018): United Thinkers, a New-York based commercial open-source Payment Management Software provider has released guidelines for merchants and payment facilitators that want to improve their current transaction processing terms.
United Thinkers published a manual, providing guidance for companies that are not satisfied by fees, that they currently pay for processing credit cards and other electronic payments. Is your company in a similar situation? Maybe, you think that your current processing arrangement is not that bad, but processing fees seem a little too high, especially if your transaction processing volume is large and growing. Or, perhaps, transaction processing fees themselves are fine, but if you add tokenization, gateway, and other fees to them, the amount looks rather significant. Possibly, having carefully analyzed your overall transaction processing-related you realize that it is much larger than you initially thought because of some hidden fees that you have just identified. If any of these statements are relevant for your case, then the guidelines are for you.
In the document United Thinkers experts describe the most frequently used strategies that their customers resort to in order to analyze and reduce their transaction processing costs. They identify the mistakes that people make and explain why many of the common strategies are inefficient. The commonly implemented intuitive strategy involves either negotiating better terms with the current processing partner or looking for a new processor that can offer better terms. However these approaches often do not result in desired savings. The guidelines explain the reasons of this phenomenon and list the disadvantages of the commonly used approaches. They provide a better framework to properly understand what your true processing cost is. The document includes useful suggestions on how you can identify all of the aspects that contribute to the cost of processing, and provide effective overall cost reduction strategies, focusing on each particular cost item.
Particularly, the guidelines authors describe the strategy of processing cost reduction through processing consolidation. United Thinkers successfully uses the strategy to improve the situation for its large-size corporate clients through implementation of UniPay Gateway technology in the already existing payment ecosystems.
“Many of the companies we are working with are not satisfied with pricing terms of their existing processing relationships. So we feel that we had to do something about it. Our new processing cost reduction guidelines are based on our rich experience of helping clients to establish successful processing relationships. They allow the readers to address the issue of processing cost reduction in a broader and smarter way” says United Thinkers president, Eugene Kipnis. “The key to actual savings is not necessarily the reduction of processing cost itself. Sometimes it might be beneficial to take a closer look at other cost items, such as indirect or opportunity costs”.
The new processing cost reduction guidelines by United Thinkers are available here: Credit Card Processing Cost Reduction Guidelines.
Those who reviewed the document and want to learn how to apply the guidelines to their particular situation are welcome to request a free consultation that United Thinkers offers for a limited time. The specialists will be glad to clarify the respective issues, covered in the document, for you, and explain how to apply the mechanisms, provided in the guidelines, to your specific scenario. You can request the consultation by completing this form: Free payment expert consultation.
The appeal of the UniPay Platform is the open-source nature, affordable cost, robust omni-channel feature set, as well as the advanced API’s and wide variety of Code Samples for easy integrations.
The components of UniPay are UniCharge, UniBill, and UniRead Modules (UniPayGateway.com):
UniPay Gateway platform has numerous APIs, its own EMV terminal solution, and mobile solution. It is integrated with all major processors and payment facilitation platforms in North America.
To receive more information, please contact Sales@UnitedThinkers.com
About United Thinkers
United Thinkers is an enterprise software development company that specializes in payment gateway technology development. The UniPay Gateway is the company’s flagship product. For more information about payment processing vision of UniPay, please visit our blog at Paylosophy.com