Broker Check

Credit Card Merchant Accounts Audited Savings

The Problem   

The payment industry, and in particular, credit card processing, is complex. Merchants are faced with confusing statements, hundreds of various payment processing fees - including costly layers of discount rates, transaction fees and surcharges - in addition to the numerous processing options offered by merchant service providers, payment gateways, and other payment processing entities. Without an unbiased insight, a merchant can easily fall trap to unfair pricing and pay large fees to accept credit card payments.  Sample Monthly Report

Our Credit Card Audit focuses solely on expense reduction within the payments industry. Our expertise and experience coupled with our through expense reduction process, ensures a competitive advantage over other firms advertising similar services.

The Stryde Audit provides an analysis of current processing rates and fee structures, bringing transparency to excessive fees. The Merchant Statement is audited and scored against 11 point audit points; the corresponding Audit Results Score represents the number of passing audit points. Sample Audit Report

The Solution 

We use a two phase approach to eliminate unnecessary fees:

Phase I – we "right-size" the account plan, placing the merchant on the correct plan type with the most competitive plan rate. Savings are immediately realized moving forward.

Phase II – we implement "processing optimization" where we help the merchant correct future transactions to avoid downgrades and satisfy Level 2/3 processing requirements.

Our Credit Card two-phase approach to expense reduction is unparalleled in the payments industry.  We correct the processing plan to reflect the most competitive plan type and rate, using formulated, specific asks of the existing provider.  Our team then works with the client to further reduce the non-negotiable fees through processing optimization, where we can help qualify payment transactions at lower interchange rates by passing through additional processing data.

The Benefits

  • Merchants Realize an Average Savings of 21% on Processing Fees
  • Payment Processing Expense Reduction
  • Continue using your existing merchant service provider
  • We work directly with the provider, on your behalf

Our network of merchant services providers is immediately available should a merchant choose to obtain or switch processing services. Stryde is a Partner Provider for the two largest payment gateways, Authorize.net and PayPal, offering wholesale pricing to merchants.

Stryde’s expense reduction service department is made up of payment industry experts whose mission is to provide transparency and expense reduction solutions to merchants who process credit card transactions. We are not a payment processor or merchant service provider. We partner and consult with merchants to achieve savings with their existing provider,eliminating the need for any changes or
configuration to your existing business environment. 

From auditing and analysis, to regular monitoring and reporting, to an ongoing commitment to processing optimization, Stryde has the experience and expertise to be your ally in the payment industry, your advocate and advisor on best practices, and your partner in cost savings. Our success is based on measurable results, and our fees are only a percentage of your savings. Stryde is the trusted partner in payment processing.

Who Should a Merchant Trust? 

When evaluating merchant processing services, a merchant understands their own business requirements for card acceptance, but often have to rely on a sales representative selling merchant services to provide honest information on merchant service plan types and pricing options. Competition for your business is fierce and most sales representatives are paid on commission for the fees generated by your processing.

This has led to deceptive sales tactics in an industry known for its complexity and negative image. Merchants asked to reveal their  processing rate often tell us about their "qualified" rate or an effective rate not inclusive of all provider fees. This misunderstanding is far too common for an expense that has significant impact on the operating margin of a business. The payment industry is complex. Stryde can help. 

Stryde has tools to audit and analyze credit card processing, and we are uniquely positioned to secure the lowest possible card processing rate, ensure accurate billing, and help merchants reduce their overall payment processing expenses.

Our team has the experience and expertise to recommend payment processing improvements, including:

Back-office accounting integration

E-commerce solutions

Card Present terminal and POS equipment

Payment gateway configuration and support