Why You Pay So Much
Let's start by putting things in context.
Credit card processing is a value added service thus fees are imposed. This is often viewed as a necessary evil. But it is not the whole story. We view the commodity of processing separate from the service and support of processing.
Most companies will not even use the word commodity. We’re different. Our experience, stretching back to 1986 when we were founded, has proven the more informed the client the better relationship we have with them.
No games. No tricks. No flashy gimmicks.
The truth. The processing of a credit card is a commodity.
Many clients are surprised to discover that the majority of fees associated with our accounts go directly to credit card companies, while we retain a smaller portion. In practical terms, when clients process transactions, credit card companies receive a substantial portion in fees, leaving us with a modest share. Our fee, in turn, supports the account services we provide.
This results in a monthly fee for our services, comparable to the cost of two daily frappucinos. Our business thrives by growing alongside our clients, aiming to transition from lower transaction volumes to higher ones, fostering a long-term partnership for mutual growth.
Did You Know?
- Merchants CANNOT have a "direct" relationship with Visa or MasterCard. That’s why we exist.
- The card brands have published interchange rates, found on their websites. Fee types vary depending on card type, transaction type, industry and location. These fees go directly to the card issuer.
- Some processing companies entice merchants with one set of service and rates, only to sell off to another company, leaving businesses blindsided by changes.
- Based upon ABTEK’s internal tracking, approximately 15% to 20% of gift card balances remain unredeemed.
What we offer outside of the commodity:
In-Sourced Support Center
Not only is it manned in America, right outside of Detroit, but humans will answer the phone. Yep, humans. Like real people that are knowledgeable. We hire credit card nerds. They are trained by us for us. And the best part, you will not have any trouble understanding them.
Holds
We are self-insured so we have control over account holds. Make sure our competitors can offer the same. Holds can last 7 to 30 days which puts a strain on cash flow. We also resolve conflicts and flag security concerns in-house.
Detailed Billing
We want every client to see what they are paying us and weigh if we are worth it. Ask our competitors for detailed bills with the same rate they are proposing. Warning, they often will say they are not allowed to release that information. The truth is they are 100% authorized to do so if the clients pertinent information is blacked out.
Huge Chargeback Win Rate
The majority of chargebacks are successfully resolved in favor of our merchants by ABTEK. This translates to tangible financial gains for our clients, far surpassing the industry average. Our dedicated focus on this matter reflects our commitment to delivering high-quality services for our clients. At ABTEK, we go beyond being a mere commodity by actively supporting our merchants throughout the arbitration process.
Watch out for this guy!
Free Lunch
Everyday, competitors offer our clients ‘incredible’ deals to lure them away. Make sure they do not promise more savings than our gross profit on your account which is clearly detailed on your bill. They pay the same rate as us to the Credit Card companies so they would be losing money on your account. You know what people say about free lunches. Ask how their math is possible.
Hide & Seek Terms
Ironically, the biggest talk in our industry is accompanied by the finest print. Often terms and conditions are mentioned by name in the contract but they are not sent with the contract. We believe fine print should only describe the quality of ones penmanship not a marketing tactic. Explicitly ask for a copy of the terms and conditions before signing any contracts.