Consumers who choose to pay for goods and services with a credit card do business with companies which honor that choice. Given the choice between two businesses which offer similar products and services, these consumers will almost always choose the company which accepts credit cards over one which does not. This is something many in the health care industry must consider when establishing payment policies for their patients. Despite reforms in healthcare intended to increase the number of individuals with health insurance, there are millions in the country without coverage. The high cost of medical treatments and procedures means many of these patients will be paying with a credit card.
Medical businesses may see the benefit in accepting credit cards as a method of payment, however the cost of doing so increases due to high credit card processing fees. As the number of sales increase, so do the processing fees which can end up costing the provider hundreds if not thousands of dollars per year.
Relief may be in sight for medical practices who want to offer patients payment options but find the cost of credit card processing too high. In a recent press release, Merchant Service Sales has announced a new pricing platform for credit card processing which takes the guess work out of monthly fees.
As stated in the press release, “Instead of incurring higher fees as more credit card transactions are processed, the Clear View Pricing System allows businesses to pay only the interchange charges plus a flat monthly fee. The business knows the flat fee every month, no matter what the sales volume. Gone are the service charges and extra fees that add up quickly.”
This new pricing platform could spell trouble for other credit card processors in that many businesses look for a set price to pay each month. Fee structures based on sales volume can make it impossible for a business to anticipate how much they will be paying in credit card processing fees each month. As such, many merchants and service providers are always looking for ways to save money by reducing processing costs.
Merchant Service Sales is offering one flat fixed rate on credit card processing which should translate into a savings of 15 to 20 percent for businesses. Over the course of one year, this savings could easily shave thousands of dollars from the annual cost of credit card processing. Increased savings equals increased profitability for the business which is a win-win for all parties. When businesses incur higher costs, those costs are most often passed onto the consumer in higher prices. For this reason any services which reduce costs for businesses could potentially save consumers money as well.
A fixed rate pricing platform may become more popular as the credit card processing industry continues to evolve. In the immediate future, merchants interested in learning more about ClearView Flat Fixed Rate Merchant Account can do so at the official website for Merchant Service Sales. All merchants are encouraged to carefully compare and review all processing companies to ensure they are getting the best possible rates.
