If you polled 100 Controllers from clubs across the nation and asked what they would change about their payment processing, what do you think would be the most common answer?
Faster funding? Maybe.
Better customer service? Hope not.
Lower Fees? Ah, yes, the fees.
Convenience … at a Price
Payment processing fees are inevitable. Between the issuing bank, the credit card association, and the payment processor – everyone is reaching to grab their piece of the pie. Often clubs receive the short end of the stick and find themselves in a corner with a 4% fee tacked onto every transaction that comes in. That adds up quickly. And as you look even closer, you’ll notice that there are substantially heavier fees attached to card not present transactions such as online and mobile orders. Depending on your pricing structure, this type of transaction can make up the majority of the fees you’re seeing on your statements! Ouch!
Keep the Ease, Ease the Pain
With CE Payments you can alleviate some of the burdens that comes with accepting credit cards as a form of payment but keep the benefits for both you and your members. By passing the card not present processing fees to the card user, you’re able to eliminate a major cost currently incurred by the club.
What clubs have found is that most members are eager to pay with credit cards to earn reward points and other benefits. Because the rewards they receive outweigh the fees significantly, most members do not bat an eye at absorbing the service fee for paying with a credit card. They’d much rather have the rewards and convenience of using their card.
Getting a Clear Picture
While doing your month-end reporting, take a close look at your statements. What you're paying in fees will probably surprise you. Now, envision what your club could do with all of the money gained from passing off the fees you’ve been paying every month. If that sounds like music to your ears, or you’d like to have someone take a look at and identify fees you might have overlooked, schedule a no-obligation cost analysis presentation with CE Payments.
Resources
Naturally with anything new, there are lot of questions. Below are some resources to help answer some of the most common questions we've encountered.