Maximizing Profits with Merchant Processing: The Truth About Cutting Fees

Maximizing Profits with Merchant Processing: The Truth About Cutting Fees

And the reason why it's typically that level is, because you have to prove yourself before you can work directly with the bank. And you have to prove yourself even more, before you can go directly to the cards.

Like if I'm starting today doing merchant processing, I can't go to the very top and say, “hey Visa I want to work directly with you”. It's not going to happen. They got to have a reason to work with you. And that's going to come in the form of having a large client base with a large amount of billing. So it is virtually guaranteed that no small business merchant processor is going to be cutting out any fees.

When they tell you they can cut your fees, they can't really do that much for you in a lot of situations. Because Visa has to get paid. Because the banks have to get paid. Because the organization that they're working with, under the bank, that third level down those guys got to get paid too.

So there's a lot of people out there trying to spin it. And to be fair you can make a lot of money with merchant processing, but you also have to be on the grind twenty four seven, because you have to constantly be looking for new clients. It's a thing. And the reason why I'm not doing it anymore is, because every time I went to go spend money, I would just see dollar signs of how much money I was losing by not signing that client. And it kind of drives you crazy sometimes if you let it. And it did for me at least.

So the claim that this guy made was that he said I can get rid of “all” of your merchant processing fees. Well, unless you have created a company on the same level as Visa, and you are a new card provider in the market, then no you can't. That is impossible.

So I started probing and asking questions trying to figure out what he's talking about, because clearly, either he doesn't understand what he's talking about, or he's just straight up lying.

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