Did you know that most companies pay more than they need to in credit card fees? This usually happens due to the tangle of numbers, legalese, and technology involved with choosing a merchant services provider. Eric Douay is a leading expert on merchant processing. He and his organization, Fair Merchant Solutions, want to help business owners understand their options and help them keep more of their profits.
If your company accepts credit or debit cards, your bottom line is affected by merchant processing. This is true whether your company exists as brick and mortar, exclusively online, or somewhere inbetween. Eric Douay explains, “A solid understanding of payment processing systems is often the difference between incurring a loss and making a profit or, for others, making a great deal more profit.”
However, to become well-versed in payment processing, an individual would need to spend years studying this subject and, even then, he or she probably still wouldn’t be an expert. By working over the years with thousands of merchants, meeting with peer groups, and attending industry trade shows and seminars, the professionals at Fair Merchant Solutions have acquired a depth of knowledge in this area and they can stay current on everything transpiring in this rapidly-changing industry. Fair Merchant Solutions can efficiently and effectively educate you and your managers in merchant-services best practices. Moreover, while working with them, you’ll also learn how to avoid scams that can threaten the heart of your business.
Eric Douay teaches his clients about the dangers of relying on Visa and MasterCard merchant discount rates to calculate costs that will be incurred when accepting credit card payments. “It’s like going to the car dealership,” he explains. “You see a car that you like with an appealing price tag, but by the time you sign the sales contract and agree to the preparation, transportation, and other fees, the car is 10-30% more expensive than anticipated.” This exact same principle applies in the merchant services industry.
Eric Douay and his colleagues work to educate business owners and operators in the reality of merchant service rates and fees, as well as the key elements to consider when selecting a provider. “Our goal,” Eric explains, “is to educate each entrepreneur so that he or she can make wise and informed decisions about this area of business. Complete transparency is our motto. We tell you everything you need to know and there is no hidden agenda.”