Reverse Fee Processing
Most businesses haven’t heard much about REVERSE FEE PROCESSING or ZERO FEE PROCESSING. It’s probably because your current processing company is not informing you on how reverse fee processing can help your business save a lot of money. Reverse fee processing will save your business 90% or more. Changes in the processing industry allows merchants to reverses the fees to the consumer. This eliminates most of the processing fees. This is considered a surcharge fee and permissible in 40 states (See Here). ReversePAY Processing is at the forefront of this evolution. We offer several unique services that offer low to no cost processing solutions. We will only discuss our Reverse Fee Credit Card Processing solution here.
Reverse fee processing is utilized on whatever payment platform you choose. You can choose from a normal credit card swipe machines, wireless terminals, and virtual terminals. Our technology partners integrate a special software into your payment platform of choice that seamlessly reverse fees automatically to the customer at the point of transaction. There’s nothing extra you have to do. When the consumer is ready pay, simply run payment through the ReversePAY credit card terminal and the surcharge fee (typically around 3%-3.25%) is added to the transaction. The surcharge fee offsets the majority of your processing rates providing the best no fee credit card processing solution. Check out our reverse fee processing video below:
How Reverse Fee Processing Levels The Playing Field
In a world where inflation is the norm, it is important to watch where every penny in your business is being spent. For decades businesses are used to paying credit card processing companies hundreds if not thousands every month to accept credit cards. New rule changes this opens up a whole new ballgame for businesses to still accept plastic, but redirect some of those expensive fees. However there are pros and cons to consider when thinking about using a surcharge program or reverse fee processing.
Reverse fee processing works in a very simplistic way. When your customer is ready to make the purchase, the transaction is ran through the payment terminal the same way. The only difference will be the added surcharge that automatically added to credit card transactions. If they are using a debit or prepaid card the software will decipher the difference and not surcharge those cards. Debit and prepaid cards are not allowed to be surcharged, so if your customer wants to avoid the fee than suggest this alternative payment or cash pay.
Our customers see an average of savings of about 90% of what they are paying now. By reversing fees we offer a way for merchants to change consumer paying habits to favor the business. This levels the playing field for the merchant by changing the paying habits of the consumer.
See more on ZERO FEE PROCESSING HERE.