How to Save on Credit Card Processing Fees

A while ago we wrote about how most small businesses are overpaying for credit card processing. In our conversations with number of small business owners we have not come across a single owner who does not hate credit card processing companies for the exorbitant amount of money they charge. In this article we showed several techniques that can help you save money. Many of our readers have found it helpful.
We have recently come across a web site – TransFS that makes it easy to compare rates from various credit card processors. Not only that, but they go one step further and bring you quotes from various credit card merchants by auctioning your business to them. Here is how it works…

You provide necessary information about your business and credit card processing needs. TransFS bids your business to number of top-tier processors. These processors have been pre-screened to make sure their pricing is based on apple-to-apple comparison to make decision making easier. You receive competitive bids from these processors instantaneously. You can choose from these bids based on their rates and your needs. The service doesn’t cost you anything. The web site makes money by taking a cut from credit card processors after you make your selection.
The web site claims that businesses can save up to 40% using their services. We have not tried it ourselves; but we encourage you to try it and let us know how it works out for you.
Do you know of any other web sites, similar to this, that can help with selecting credit card processors?

Image Courtesy:   andresrueda


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