WHAT YOU NEED TO KNOW ABOUT
THE PAYMENT PROCESSING INDUSTRY!
SIMPLE • SECURE • TRANSPARENT BNA Smart Payment Systems Ltd
Historically, the credit card industry has used deceptive and convoluted language and pricing tactics, making it difficult for merchants to understand their monthly processing fees. One of the obvious goals is to create uncertainty within the merchant statement itself.
AS A MERCHANT, NOT BEING ABLE TO BREAKDOWN YOUR MONTHLY PROCESSING FEES, OR EVEN YOUR INITIAL CONTRACT PRICING CAN RESULT IN INCREASED AND ADDITIONAL FEES.
BNA Smart Payment Systems Ltd
With these types of practices, processors often outline what optically seems like a low Discount Rate, but are in fact marked up through additional fees,
RESULTING IN A HIGHER
“EFFECTIVE RATE� These advertised or presented Low Rates are meant to attract your business with the promise of the proposed rate which is in fact only a partial piece of the proverbial merchant services puzzle.
BNA Smart Payment Systems Ltd
SO LET’S
GET STARTED!
on changing the way you look AT THE PAYMENT PROCESSING INDUSTRY
BNA Smart Payment Systems Ltd
UNDERSTANDING CREDIT CARD PROCESSING CREDIT CARD PROCESSING CONSIST OF TWO COMPONENTS
BASE COSTS The rate directly from Visa/Mastercard (which varies depending on the type of card used)
BNA Smart Payment Systems Ltd
VS.
MARKUP COSTS The rate that the bank or processing company makes on top of that
BASE COSTS
MARKUP COSTS
SHOW PERCENTAGE POINTS
CONFUSED ICON – ADDITIONAL NUMBERS BEING INCLUDED ON THIS SLIDE
1.54% 1.64% 2.25% 2.26%**
+ 0.40% $10.00, $19.99
Base costs consist of Assessment fees & Interchange rate that are set forth directly from Visa and MasterCard. Interchange rates vary depending on the type of card being used; for example, Visa Infinite, Visa HighSpend, Visa Corporate, MasterCard High-Spend. The interchange rates associated with each card type are fixed costs for all processors.
BNA Smart Payment Systems Ltd
The markup consists of a combination of additional fees associated with processing a transaction. This can range from Item Fee ($0.10), Mid/Non-Qualified Fee, Interchange differential Fee, Admin Fee, Push Fund Fee, Authorization Fee, Licensing Fee, Data Security Fee etc.
THIS MEANS: That the true rate your business is paying to process a credit card transaction is a combination of base costs and markup costs known as EFFECTIVE RATE. And this isn’t what you are presented with when you are given an optically attractive discount rate. The EFFECTIVE RATE will always be the reflection of your total fees. And knowing your Effective rate will ensure that you are not only presented with the complete pricing breakdown, but allow you to understand your monthly statement more clearly.
**Base costs should account for the largest portion of expense (about 65%-90%) followed by the markup w/ additional fees making up the total Effective Rate.
BNA Smart Payment Systems Ltd
SO WITH THAT OUT OF THE WAY Be wary of “LOWEST RATE” processors. This type of visually appealing marketing does not mean ‘lowest’ rate - in fact the quote simply outlines lowest quoted Discount Rate & not ‘Effective Rate’ (what you actually pay) Knowing all the fees associated with your quote will be the difference between paying a fair price and getting the support and service your business needs and deserves – and paying the ‘LOWEST RATE’ while getting no support, no service, and an automated voicemail system.
KNOW THE VALUE OF YOUR BUSINESS! ** Processors that tend to focus on ‘Lowest Rate’ may do so at the expense of reliability and customer service**
BNA Smart Payment Systems Ltd
THE
COOKIE CUTTER
SOLUTION
No matter what industry your business is in, what payment requirements you need or the type of monthly volumes you generate, your payment solution should fit your business. Not the other way around.
Your business should not cater to the requirements of a payment solution. Out of the box solutions often equal the wrong solution
for a number of reasons. Each business is different, and has different requirements associated with the day-to-day operations.
BNA Smart Payment Systems Ltd
BNA takes the time to understand your business and builds a pricing model and payment solution that is perfect for you, not everyone else. Whether it is a reliable and secure mobile payment terminal, integrated eCommerce solution or virtual terminal – BNA knows the importance of efficient, reliable and secure payment solutions that are tailored for you!
At BNA, we understand that your business requires transparent pricing, but also the highest level of PCI compliant software and hardware to keep
YOUR TRANSACTIONS SAFE AND YOUR CUSTOMERS’ CARD DATA PROTECTED – WE DO THAT!
BNA Smart Payment Systems Ltd
CUTTING CORNERS MEANS LOSING MONEY. If you business is in need of support, or your are having a technical issue during a busy time of day:
☑ WHO DO YOU CALL? ☑ HOW QUICKLY WILL THEY RESPOND? ☑ WILL YOUR CUSTOMERS WALK AWAY IN FRUSTRATION?
WILL THEY COME BACK?
☑ HOW MUCH TIME AND POTENTIAL SALES WILL YOUR BUSINESS BE SUBJECT TO WITH AN UNRELIABLE PAYMENT SOLUTION OR PROVIDER?
24/7, 365 day a year
BNA knows that your business needs a helpdesk and technical support team that is dedicated to your business needs. – WE HAVE THAT!
This means that when you call – WE ANSWER. PERIOD.
BNA Smart Payment Systems Ltd
Also we provide our merchants with relevant and up to date information about new & innovative solutions to keep your business running smoothly.
Our solutions guarantee your customers a fast, painless and fully secure payment process ensuring their satisfaction, every time!
At BNA, you will benefit from the same level of dedicated, personalized service and support, regardless of size. We are a full-service provider and an all-Canadian company serving North American businesses for the past 15 years. We have the experience and expertise
thousands of businesses rely on for their card processing needs.
BNA Smart Payment Systems Ltd
Accepting credit cards should be simple and hassle free through effective solutions and transparent pricing. Your processor should offer you complete peace of mind, and security.
BNA Smart Payments We provide more than just service. We provide exceptional service at a fair price! BNA Smart Payment Systems Ltd
Call: 866.324.7585 Email: sales@bnasmartpayment.com Web: www.bnasmartpayment.com