Statement Analysis

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Rather than disregarding merchant account fees as a necessary cost of doing business, more businesses are paying closer attention to their credit card transaction fees.  By reducing negotiable interchange rates, we can dramatically reduce your credit card processing fees and cut unnecessary spending by an average of 25%-35% each month.

Auditing merchant account statements is no simple task. Each credit card network has their own interchange rates and these can vary widely depending on a number of factors. There are also a number of factors that affect your total monthly merchant account fees that can be hard to spot on a merchant account statement.

• The type of credit card used (rewards, debit, credit, etc).
• How the payment is run (wireless, chip, swipe, etc).
• The type of business the merchant operates.
• When the batch settlement is paid.

• Processor fees.
• PCI Compliance or Non-compliance.
• Junk Fees – These include statement fees, monthly funding fees, services fee, etc.
• The application of a surcharge fee.

These variables make wading through merchant account statements very confusing. Without an established relationship, negotiations with a processor resulting in fee reductions can be hard to come by. Using our expertise and long-time-knowledge of the credit card industry, your accounting department can use Mycchero as a valuable tool in reducing credit card processing fees.

• What fees do I have control over?
• Am I paying too much in credit card processing fees?
• Are my fees in line with my competitors?
• Are savings available to me that I am not aware of?
• Can my American Express fees be reduced?