Leo Townsend, president of International Payment Solutions, LLC with locations in Geneva and Savanna, IL, has been writing national articles educating merchants about credit card processing since 2001. The single biggest reason most merchants are being overcharged on their credit card processing is that they let someone throw a number at them without an explanation.
IPS has found that 90% of merchants have no idea how to read their statements and out of the 10% that do, most don’t understand the terminology or pricing structures their bank is using. IPS requires a statement be faxed for review as opposed to just throwing numbers at you. Over the past 10 years, IPS has achieved a national average of 21% in cost reduction and has had merchants where IPS cut their cost by over 90%. How would you like to never have to switch your processing again while receiving honest and wholesale pricing? This is IPS's promise to you.
Reports have shown that online businesses that accept credit cards online see a jump in their sales by 20 to 30 percent, according to Visa USA.