In the day-to-day grind as a business owner, you’re in a constant state of juggling. Whether it’s managing staff, approving new products, marketing an event, or one of a hundred other things piled up on your to do list, there’s no shortage of tasks vying for your attention.
It probably comes as no surprise then that of the roughly 400,000 small businesses launched within the U.S. every year, 20% of them fail before those first 12 months are through. For many businesses, especially those on the smaller side, there simply aren’t enough resources to remain both efficient and profitable long term.
One area where many businesses stumble is with regards to financing. There is either too little capital to keep efforts afloat or the money that does exist is mismanaged — potentially a combination of both.
Across any number of industries — ecommerce, restaurants, non-profits, and healthcare — it can be easy to overlook just how quickly the cost of payment processing can add up. And yet, even with knowledge of those costs, it’s not something that can simply be eliminated.
As the industry leader in payment processing, we understand the frustration that can arise from hidden fees and chargebacks. That’s why we’ve developed a unique 5-step price comparison process to ensure our low price guarantee is always met.
How Our 5-Step Price Comparison Process Works
When you request a quote from BAMS, you’re requesting a personalized analysis of your current payment processing set up. Using your current merchant statement, we’ll piece through a detailed summary of fees paid to major credit card companies like Visa and Mastercard, your deposit summary, transaction count, and more.
Step 1: Review Your Classification
You’d be surprised how many processors fail to understand a business upon set-up only to classify them under the wrong industry. When this happens, you’re likely to lose out on money in the long run. Before we dive into the finer details, we’ll make sure your classification lines up with your business for the sake of maximizing future savings.
Step 2: Uncover Hidden Fees
Hidden fees and price increases may not seem like a lot up front, but they certainly add up over time. We’ll run a side-by-side comparison of your current payment processing system and BAMS to highlight which costs can be minimized, if not completely eliminated, upon migrating over.
Step 3: Check the Fine Print for Updated Regulations
The regulatory environment that governs payments and payment processing is ever-changing and muddled with fine print. We take into account the most current pricing regulations to ensure that you’re not paying more than you should at any point in time.
Step 4: Examine How You Accept Payments
How you process customer transactions is about more than just the credit cards you accept. Often times, the point of sale (POS) terminal or payment gateway can be at fault for negatively impacting your bottom line. Our analysts take all of this into account when generating a plan around your business’ current situation and future needs.
Step 5: Give You a Quote
With all of the above laid out, reviewed, and analyzed, it’s time for a quote. The BAMS team will show you exactly how our system compares to that of your current setup, with feature recommendations that cater to the exact needs of your business and your business alone.
Final Thoughts: All About Our Low Price Guarantee
When it comes to running a business, there’s no one-size-fits-all solution to doing it right. But there are services you can trust to ensure that the most important areas of your operation run as smoothly as possible.
If it’s time to rethink your current payment processing service! Contact us today to take advantage of our low price guarantee. Request a free analysis and quote.