What makes us different

We are not a credit card processor; we audit credit card processors. And when it comes to the “competition,” no one does what we do the way we do it.

What Makes Us Different

Our Amazing Guarantees

We promise the biggest savings—or your money back! Plus, we offer a 60-day Love-The-Results-Or-Don’t-Pay Guarantee. Unlike the other guys, we stand behind our promises with real guarantees!

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We find and remove JUNK fees

We find and remove HIDDEN fees

We get your Interchange REBATES back

We get your Debit REBATES back

We get you PCI CERTIFIED in under 1 hour

How Easy It Is Overview

Most merchants don’t realize that credit card processing is unregulated, allowing processors to inflate fees and add endless junk fees, driving up costs by 40% or more! They use complex internal terminology like EIRF (Electronic Interchange Reimbursement Fee) to confound and confuse businesses. For example, EIRF simply means “missing zip code.”

Credit card processors make it very difficult for merchants, so we want to do everything we can to make it easy for you to eliminate your inflated and junk fees. We even use plain English so you can easily understand.

Click the link below to send us your statements and see just how easy it is to cut your fees almost in half!

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Upload your statements

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We complete a 10 point, comprehensive audit on your statements

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We review your free audit results with you. Enjoy the savings.

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FAQ

An issuing financial institution’s electronic message reply to an authorization request, which may include:

Approval — transaction was approved

Decline — transaction was declined

Call Center — response pending more information; the merchant must call the authorization phone number.

Service Not Allowed – You have entered a credit card number from a card type you are not authorized to process.

Credit card companies make it difficult for credit card transactions to settle at the lowest interchange fees by imposing stringent rules. However, they do offer a solution: credit card processors can fix the transaction—but they’ll keep 75% of the savings for themselves.

Let’s break down the math to clarify this. Suppose a merchant processes a $500 transaction that would have downgraded due to missing data. The processor inserts the missing information before submitting it to the card networks, allowing the transaction to settle at a lower interchange rate, typically saving around 85 basis points. This means the merchant saves $4.25. However, the processor takes $3.19 of that and leaves the merchant with just $1.06, claiming that without their intervention, the merchant would have lost the full $4.25.

Alternatively, third-party services can also correct the transaction for a fee of just 5 basis points. Let’s run the numbers: 0.05% of $500 is only $0.25. The third party would save the merchant the same $4.25 but take only $0.25, allowing the merchant to keep $4.00.

So, here are your options:
- Option A: Let your processor fix the problem they helped create, and you keep $1.06.
- Option B: Use a third-party service to fix your interchange, and you keep $4.00.
The choice is clear. The only complication arises when your ERP or POS system blocks third-party solutions to boost their own profits, leaving you without help.

Click here to schedule a call to learn how easy it is to fix this.
A credit card transaction that is billed back to the merchant after the sale has been settled. The card issuer initiates chargebacks on behalf of the cardholder. Typical cardholder disputes involve product or service dissatisfaction or delivery failure. Cardholders are urged to try to work it out with the merchant before disputing the bill with the credit card issuer. Also, this can come from fraudulent card use where the cardholder’s data was stolen.
Issued to businesses to cover expenses such as travel and entertainment, procurement, etc. The most common type of commercial cards are purchasing cards, business cards, and corporate cards. Visa and MasterCard require more data to be passed and charge a much higher fee for these cards if only basic data is passed. Businesses that receive commercial cards should make sure they have optimized interchange. For large companies, this can cost them millions a year in unnecessary higher interchange fees.

The merchant’s bank account is used by the processor to deposit and/or withdraw funds from the merchant at any time. Giving full bank account access to a processor is very serious, and the money they take out should be audited and validated every month. Reminder: The credit card processing industry has virtually zero oversight.
A payment card that withdraws funds directly from the cardholder’s checking account at the time of sale. If the cardholder enters a PIN, the transactions run through one of the debit networks, “Pin Debit Transactions.” However, the transaction runs through the processing networks if the cardholder does not enter their PIN. Debit processing fees are a small fraction compared to traditional credit card processing fees. Visa, Mastercard, and Discover forbid merchants from surcharging debit transactions.
Known as the “little black box,” this type of processing device is typically found in restaurants and retailers. It should never be used in a B2B environment as it cannot settle transactions at Level III, and most won’t even get Level II settlements. This means significantly higher interchange fees. Even though most of these devices are not dialing out anymore and are connected via the network/internet, the name has remained unchanged.
The three main price points in a credit card transaction are 1) the credit card processor’s “Discount Rate,” 2) the credit card processing network’s “Interchange Fees” (which go to the card issuing bank), and 3) the “Dues and Assessments” (which go to the processing networks, i.e., Visa, Mastercard, and Discover).

If a business is set up correctly, the Discount Rate should make up the smallest fee. However, that’s not always the case. Also, don’t be duped by the word “Discount.” It is not a discount; it is an upcharge/markup. Below is a chart that shows the impact of each fee.
A downgrade credit card transaction happens when a transaction settles at a higher rate than it could have. This can occur for several reasons, including, but not limited to:

• The batch isn’t settled within 48 hours of authorization.

• A transaction isn’t authorized within the allotted time frame.

• A transaction is categorized as stale.

• There is an address verification system (AVS) error.

• The correct customer code isn’t supplied.

• The terminal software is outdated.

• The authorization and settlement amounts differ.

• The settled amounts don’t match the original amounts.

• A business, corporate, or purchasing card gets processed in a B2C processing gateway.
Dues and Assessments are fees charged by the processing networks, i.e., Visa, Mastercard, and Discover, on credit and debit card transactions. Dues are a general term for all of the various fees charged by card networks, including per-item transaction fees. Assessments are flat-rate percentages charged against the total gross monthly sales. See below for the impact these fees have.
Many of the hidden credit card processing fees are difficult to detect without detailed analysis, which often overwhelms most merchants. However, this particular hidden fee is easier to highlight. It involves a bit of math, but nothing too complex.”

Divide the “Processing Fees” charged to the merchant $1,559.41 by the “Amount of Net Sales” $326,194.08 and you get .48%. However, when you look at the “Discount Rate,” it shows .35% not 48%.

The credit card processor shows the 35% (which is already six times more than any merchant should ever pay for a discount rate) and hides the extra 13%. This one is not only hidden, it’s deceptive.
This is a fee that credit card processors add to accounts. However, to be clear, this fee is not a bonafide fee recognized by the processing networks, nor is it charged to all merchants or by all credit card processors. It would appear to be an extra profit center for the credit card processors. By adding these types of fees, the processor can offer a lower discount rate while still maintaining high-profit margins. In the example below, the merchant thinks they are paying a .15% “Discount Rate.” However, when you add back in the “Interchange Clearing Fee,” the merchant is paying .50% which is over ten times what the merchant should be paying. To be clear, this is just one example, and when you ask the processor to remove it, they will add a different fee to take its place.
An ISO (Independent Sales Organization) is a third-party entity that resells merchant processing services. ISOs are required to disclose their affiliation at the bottom of their website. For example, “ABC Processing is a registered ISO/MSP of Any Bank, Cincinnati, OH.”
In order to be competitive and offer lower discount rates, credit card processors can get creative and charge fees that are unique to them. This gives the merchant a false perspective of what they are truly paying.

Below, the merchant has a .15% discount rate, which is about three times more than they should be paying. However, the credit card processor has added an “Interchange Clearing Fee” for .0035 (.35%), taking the actual rate the merchant is paying to .50%, which is over ten times what they should be paying.

In order to be competitive and offer lower discount rates, credit card processors can get creative and charge fees that are unique to them. This gives the merchant a false perception of what they are truly paying.

Below, the credit card processor added a fee called “Network & Processor Access Fee” for .07%. This is not to be confused with the actual fee named “Network Access Fee” charged by the processing networks and is a dollar amount, not a percentage.
In order to be competitive and offer lower discount rates, credit card processors can get creative and charge fees that are unique to them. This gives the merchant a false perception of what they are truly paying.

Below, the credit card processor is charging the merchant .48% for a “Risk Fee.” This fee is imposed by the credit card processor, not the processing networks. It is not charged to all of their merchant agreements; only some merchants have to pay this fee. We have only found this fee being charged by one credit card processor. To put this in perspective, this added fee is almost ten times what a merchant should be paying the processor, and this does not include the “Discount Rate.”
In order to be competitive and offer lower discount rates, credit card processors can get creative and charge fees that are unique to them. This gives the merchant a false perception of what they are truly paying.

Below, the credit card processor is charging the merchant .15% for a “Settlement Funding Fee.” This fee is imposed by the credit card processor, not the processing networks. It is not charged to all of their merchant agreements; only some merchants have to pay this fee. This little added fee is three times what the merchant should be paying their processor, and that’s before the discount rate gets added in.
A website shopping cart is software that allows customers to select and purchase products online. It mimics the experience of shopping in a physical store, where customers can browse, add items to a cart, and then check out. If a merchant sells to businesses, it must have a shopping cart that will connect to a data-enhanced payment gateway. If not, then the merchant will pay anywhere from .70 to 1% in interchange fees. A shopping cart will collect the minimum data needed to process a credit card transaction. However, business, corporate, and purchasing cards require much more data in order to get lower interchange fees. A traditional payment gateway will only pass the data it receives, allowing the transaction to downgrade to a higher credit card interchange rate. A data-enhanced gateway will fill in the missing data to ensure the merchant pays the lowest available credit card interchange rate. Credit card processors will often tell merchants that their gateway will auto-populate that missing data. Be sure to get that in writing on official letterhead and signed by an authorized officer, so you don’t end up learning the hard way and having to pay to fix it later.
The fee charged to the merchant is passed back to the issuing bank. The fees fluctuate based on industry, card type, processing network, method of entry, and data passed. The interchange fees are updated every April and October. It is best to use a Data Enhanced Payment Gateway that will fill in missing data or correct the data to ensure the transactions settle at the lowest interchange fees. This can reduce interchange fees as much as .70 – 1%.

Caution—Processors have been caught inflating/padding the interchange. For example, Visa charges 2.2%, and the credit card processor charges the merchant 2.95%, creating an extra .75% profit for the credit card processor.
A credit card surcharge occurs when a merchant passes their processing fees onto the customer. This can be done in a couple of ways:

A) The credit card processor can charge all the merchant’s customers a flat 3% fee. However, the processor will also raise the merchant’s debit fees, which cannot be passed back to the consumer. A bigger concern is that the credit card processor is fully indemnified, meaning the merchant is 100% responsible for any fines or penalties from the card networks. Even worse, the merchant risks losing the ability to accept credit cards and could face legal consequences in states where surcharging is prohibited or strictly regulated. It’s not a simple “one size fits all” solution; it’s a complex process. Review your merchant agreement carefully—you’ll find an indemnity clause stating that the processor cannot be held accountable, leaving the merchant with all the risk.

B) Partnering with a third-party expert can offer advantages:
- Both the merchant and their customers will likely pay less.
However, even with this option, ensure you are not liable for any legal or regulatory violations, and that the third party assumes 100% of the liability.

weAudit.com is the firm that small businesses to Fortune 500 companies turn to for advice on how to lower their merchant processing fees. We believe in and strive for 100% transparency in this industry; therefore, you will find all of our fees and costs are fully disclosed. We are recognized as the industry experts in merchant processing by the National Association of Credit Management, Credit Research Foundation, Credit Today, Riemer, Coleman Research, and DeMatteo Monness. And we back up everything with a “love us or don’t pay us guarantee.” In October 2019, weAudit.com was awarded the prestigious Torch Award for “Exceptional Ethics and Service.”
No. weAudit.com does not sell or resell processing. We are a fintech auditing consulting firm specializing in all aspects of merchant processing.

We don’t care who or what our clients use. Our job is to help them pay the lowest amount in merchant processing fees, nothing more!

If they are not controlling the auditing software, then they can not control the quality of the audit. Also, your data is not been given to a third party that has no obligation to keep your data secure and private. At weAudit, our audits are done in house by our proprietary systems.
More times than not, you can lower your discount rate just by calling.

The problem is then the processor adds the fees right back in by inflating interchange fees, adding new costs, etc.

You need to have a firm that looks at and analyzes every detail of everything on your statement.

That has the deep, vast experience to spot any discrepancies.

Interchange fees make up 80-90% of your total processing cost.

Do they have an interchange Optimization program to reduce those fees? If not, you will never see the lowest prices possible.

Are they making sure you are PCI compliant or addressing fraud issues?

Again, most of these companies will only negotiate a few low-hanging fees such as discount rates and nothing more.
We find that many of these sites are nothing more than a front.

They don’t disclose anything about who they are, who runs them, who owns them etc.

Others claim to be experts and have zero background in merchant processing.

Linkedin is a resource to help validate who they are versus who they say they are.
The answer you are looking for is NO.

Again, they are playing both sides of the fence and will cater to who is giving them the best deal.

Also, if they are paying someone else, they have to charge you more to cover that extra expense.

Those kind words of endorsement are not real – they are bought and paid for.
We have seen cases where they will sue their client for non payment.

You may feel safe with paying a % of the savings, but who determines those savings? What if some fees have gone down, and you are paying a fee for them, while other fees have gone up? How do you get out?

Your only protection is to have a month to month agreement.

An email, a phone call, etc., from an employee or even an officer is not binding. It has to be on letterhead and signed by an officer. However, remember that this is not a substitute for the contract addendums.

Addendums alter the verbiage, terms, etc.

The previous questions merely give you insight into their willingness to play fair and be truthful.

No guarantee, but a good start; again, the contract needs to be vetted by an attorney with merchant processing contract experience.

If you don’t have an attorney, our legal department will assist at no cost. It is just one more thing we do to give back.

email it to [email protected]

Subject line: Contract to be vetted.

Make sure you also include all your contact information so we can reach you should we have questions. Depending on workload, please allow 10-14 business days.
Many processors will say we don’t have a contract; we have an agreement.

This is like saying we don’t have stewardesses; we have flight attendants.

Okay, how long is the agreement?

The answer should be month to month.

If not, then they can raise rates and new fees, and you will be locked in and have massive costs to get away.
If they say yes – run!

Page one of every agreement says they can raise rates any time they want.

The reason to ask this question is for you to understand that this incredible offer is good for today and today only!

If they want, they can raise rates before you even process your first transaction.

This is also why you need to have a month-to-month agreement with zero penalties of any kind if you cancel.
Don’t ask if they have an Early Termination Fee (ETF), as that is just a fee to pull your attention away from the much higher costs.

Processors can say they will waive the ETF etc., and still have other fees for canceling.

Ask – are there ANY fees of any kind for canceling?

Make sure to read the important disclaimer three questions down.
The statement needs to itemize:

(1) Discount Rate

(2) Interchange Category. i.e., US Purchasing Card Level II

(3) The processing volume of each category

(4) The transaction count for each category

(5) The fees charged per category.

If they disclose these fees, it does not mean everything is ok.

If they don’t, they are hiding their actual cost.

After you receive the free audit request, you can send them this link to collect the rest of the information.

To be clear- this info is not required, but it will ensure we are not wasting time on deals that may not be able to be done due to ERP limitations, etc. As well as it will allow us to give a more accurate forecast, but the biggest reason you want this is becuse we have had audits fall apart becuse they felt we were not prepared becuse we did not know enough about them. https://www.weaudit.com/how-do-you-process/
They were not even an ISO (Independent Sales Organization) until a couple of months ago (sometime during the first half of 2024). Before that, they were not even allowed to see merchant processing services, but that did not stop them from selling it. Our guess is that they had no idea that they had to become a registered ISO. Below is a screenshot where they referred to themselves as a “processing Service,” which there is no such thing as a “processing Service”. But do acknowledge that they are just reselling FISERV.

There is nothing unique about them; they are just like all the other ISO’s for Fiserv (Formerly First Data) and should be treated just like if someone told you they are with Wells Fargo, etc., except for:

1– Forced Gateway options – just like Worldpay

Other ISOs will let merchants use whatever gateway they want, but EPX requires them to use its antiquated, outdated gateway. Thus, their interchange issues will remain as they are.

2 – Promising to raise rates

We found this on one of the audits we did – This means they can raise their Discount Rates, Auth Fees, and AVS up to 10% with the April update. Please note that these updates are every April and October! This would imply that those fees could increase up to 20% per year or double every five years.

3 – Potential wrong setup – setting up merchants as retail versus B2B Card Not Present.

Even though the bulk of Eclipse and P21 are B2B AND CARD NOT PRESENT transactions – they consider they consider their system to be a retail solution. Which creates more interchange downgrades

4 – Junk Fee # 1 Infating American Express Fees

Below, the top line shows where they are charging an Amex Direct merchant over 39 basis points for an Amex transaction. Other processors fee for this is ZERO! So, if you did have a low discount rate of 4-5 basis points, you would have to factor in the additional 39+ basis points back into that deal. This is costing this merchant over $600 a month and they have no idea!

5 – Junk Fee # 2 Made up fee “AVS WATS Fee”

See the second arrow above. In the second line, they are charging an AVS WATS Fee. Watts fees have not been charged for well over a decade. See below – it is for long distance. Today, everything is done via the internet; no system dials a 1- 800 line, and even if it did, there are no more long-distance fees. This is just a made-up fee.

WATS (Wide Area Telephone Service) was introduced in 1961 by Bell Systems as a long-distance flat-rate plan in which businesses could obtain a dedicated line with an included number of hours of call time from specific long-distance areas.

6 – Inflating PCI Fees

Again, see the image above – the third arrow – Charging $40 per mid / per month, a business with 20 locations would pay $800 for PCI compliance. Versus only $8.95 per mid / per month.

7 – I/C Savings adjustment

See the fourth line down from the top in the above image. They force businesses to use an antiquated payment gateway that creates many transactions to downgrade, costing businesses tens and sometimes several hundred thousand dollars in interchange downgrade fees. However, they offer to fix it on the backend before sending the file to the processing networks if the merchant agrees to let them keep 75% of the savings. Click here to read more about how that works.

8 – Other fees we found on their statements

Monthly Fees – Customer Service Fee – Average Discount Rates 20 – 33 basis points

9 – Black Rated

We rate ISO/Precsccors

Green – Some trust and are truthful most of the time

Yellow – Caution – we see more deception than than normal, but not that bad.

Red – Extrem caution – way more deception than most!

Black – ZERO trust!
We generate the largest savings.

We have all 5-star reviews.

We have ZERO BBB complaints.

We are the only one in this space that has a money-back guarantee.

We are the only one in this space that is month-to-month.

We are the only ones that don’t take a percentage of the savings.

We are the only ones that list their fees on their website.

Others in the space use third-party companies to do their audits becuse they don’t have the experience.

Only two companies in this space have experience in this industry. The weAudit C-suite has over 135+ years of executive experience for the world’s largest processor. The other company has one guy who was a sales rep for a couple of years.

Some of the largest companies in the world turn to weAudit for help in reducing their credit card processing fees.

We are the only auditing firm that specializes in credit card processing fees.
PCI is short for PCIDSS or Payment Card Industry Data Security Standards.

All merchants must comply.

Depending on how many transactions a merchant processes each year, they have different requirements.

Some require questioner being submitted, while others have to get scans, etc.

Most merchants are deemed non compliant because they never submit their documentation. Why? It’s because they have no clue what form to complete, where to even get it, or how to submit it.

This is where we come in – we hold their hand and help them find the right form. Then we assist them in filling it out and submitting it via our PCI partner Sysnet (now called Viking Cloud). We charge $8.95 per location/MID per month. Sysnet charges around $30 a month if they buy direct. We re-sell it at cost as a courtesy to our clients.

The big issue is this…

If a merchant gets breached, and they are non compliant – the merchant is only responsible for actual damages.

If a merchant gets breached, and they are NOT Compliant, the processing networks will fine them way more!!!

Again, compliance, is more about did you get your paperwork in than what you do, or how you do it.
Discount Rate – Is the processor’s mark up on a transaction. Most of our clients pay around 5 basis points. We see most merchants pay 20 -70 basis points or more on average. This can be negotiated

Dues & Assessments – This is the fee from the processing networks (Visa, MC, Discover and Amex) and usually runs around 13 basis points, with Amex be a little higher. These can NOT be negotiated.

Interchange Fees – Several things determine the fee, and there about one thousand options in all.

Industry – A Hotel has different rates than a Grocery Store which is different than a Distributor, or even an Airline.

Card Type – Rewards, Non-Rewards, Regulated Debit, Non Regulated Debit, Purchasing, Corporate, Business, High Rewards cards like Signature or World Card: there are dozens of different card types.

Network – Visa, MC, Discover, & Amex – each network has its own fees as well as rules to get those fees.

How entered –

keyed

Consumer cards (personal cards) have a higher interchange fee when keyed, versus swiped.

Commercial (business cards) like Purchasing, Corporate, Business cards don’t need to be swiped to get the best rates.

Swiped

Data Passed – The more data passed the lower the rates on Commercial (business cards) like Purchasing, Corporate, Business cards. Many Gateways only pass the minimum data, which causes the transaction to clear at a higher interchange rate as opposed to gateway that passes all of the data.

On Commercial cards, you only need to pass the 6 basic fields to get Level II. However, a good gateway will pass over 30 fields to get the transaction to Level III – one of the lowest interchange fees.

Very large companies (such as an Airline) can negotiate their own interchange rates.
A Processor is a generic term that everyone uses to identify themselves in this industry. In other words, an ISO will say they are a Processor, as will a MSP etc.

A Processor is like:

Fist Data, which has been acquired by Fiserv, a software company.

_____________________________________

worldpay/vantiv, was acquired by FIS, a banking/ investing software tech company). Now (Sept 2023), FIS has just sold off Worldpay to a private equity firm.

Advent International (a private equity group) acquired Fifth Third Processing Solutions in 2009 and renamed it Vantiv, then acquired worldpay in December of 2010.

______________________________________

Chase – Paymentech – Chase was reselling First Data, and in 2002 had a falling out, and acquired Paymentech in 2002.

______________________________________

Global – Acquires Heartland in December 2015. Heartland started back up as Beyond an ISO for Merrick Bank.

TSYS acquires Transfirst January 2016 and CYAN in 2018

Global and TSYS merge May 2019.

_______________________________________

Elavon is a joint venture with US Bank.

_________________________________

BAMS (Bank of America Merchant Services) – A joint venture between BOA and First Data. However, BOA announced this year (2019) they are looking to part ways with First Data.

_____________________________________

There are a couple more that are not currently listed, But the above make up about 90%, if not more, of the market.

______________________________________

An ISO is an “Independent Reseller Organization). That resells merchant processing, like:

FattMerchant An ISO for Wells Fargo, they charge a flat rate versus a % for a Discount Rate.

Flagship

Solupay

Blue (owned by First Data)

CardConnect (owned by First Data)

Total Merchant Services

There are about 1,000 ISO’s in America.

An ISO is suppose to disclose who they are an ISO for at the bottom of their website.

Most are an ISO for Wells Fargo (First Data).

Processors have to have what’s called a sponsoring bank to play, as credit cards are owned by banks. So in order to get a seat at the table, a processor has to have a bank sponsor them. Wells Fargo is First Data’s sponsor which is why you see Wells Fargo name instead of First Data.

MSP Merchant Service Providers

Banks other than Chase Paymentech, which is a processor and BOA (BAMS) are MSPs. They are the same thing as an ISO, except they are banks.

However, they are still reselling this service – to find who just google – like the one below.

I’m not sure who comerica is reselling so I can google “comerica merchant services (then just trade out vantiv or First Data etc..) to see who they have partnered with.

Examples –

Commerce Bank

Suntrust

PNC

City

The content below this line is next to worthless information that you will most likely never discuss with anyone. If you do, rest assured, they know way more, so gracefully thank them and remind them that the conversation is about the fees, and let’s please stay on point.

Acquire – just what it says, but it is a word (term) you will hardly ever hear used. It is who “Acquires” the transactions, or what is often times called the front end. This is who sends the transaction to the processing Networks (visa, MC, Discover, or Amex) to get an approval.

Settlement – or what’s called the back end. This is who moves the cash.

More times than not, it is the same Processor; but sometimes due to IT or integrations limitations, it will be split between two processors. Notw that is very rare!
Unfortunately, we are a privately held company, and due not release that type of information. I also hope that you can appreciate the nature of our business. knowing everyone’s financials, we are a very tight lipped organization, that runs on a need to know basis. Our website does share what we can, but if it is not on our site, then we don’t talk about it. You might say privacy is our currency.
POS = Point of Sale – usually in a retail or restaurant with face to face interaction.

ERP = Enterprise Resource Planning – usually B2B, which can be face to face, but often times is not.

ERP’s are most common with Smaller Manufacturers and distributors; as they are an out of the box ready to use systems for the most part.

SAP = Systems, Applications, and Products. This is for big companies that run every aspect of their company. It is very expensive to buy, to maintain, or make changes.

CRM = Customer Relationship Management – usually for companies selling a service versus a product. ZOHO is a CRM.

If you notice, everything starts off with usually, as there are no everytime situations here.

What’s important to know is if the merchant is integrated, if their ERP etc locked down to one Gateway, or if they have options.

Also, SAP’s are not like the other systems they have ZERO limitations. They cost a lot to make program changes, but they are not limited.

If the merchant is not integrated, we don’t care if they have a POS, ERP, etc.
A Magtek Reader. It can not do anything if it’s not plugged into a PC or POS System etc.

Terminal/Reader

It is a glorified Magtek Reader – It can accept PIN Codes and some of them have larger screens that allow Signature Capture. They have to be plugged into a computer or ERP, POS, etc (They Don’t print receipts)

A Dial Terminal This is the little black box that sits on the counter. It can connect via a telephone line or via an internet line. Regardless of how it connects, they still call them Dial Terminals. (They print receipts)
Most of the time, no. Dial Terminals can not process at Level III. However, a card reader, such as a magtek (the little black readers you see attached to keyboards or the side of monitors) that connects to a Virtual Terminal that has Level III capabilities. Better yet, would be a Level III Data Enhanced payment gateway.
Percent means per 100

Cent is short for Century or 100

_______________________________________

One Point is 1% or 100 BP

Half a Point is 1/2% or 50 BP

Quarter Point is 1/4% or 25 BP

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100 X 1% = 1

100 X 0.01 = 1

It is the same thing; it’s

just % versus decimal.

Often times, processors will show rates like 0.0253, which look very cheap. However, that is really

2.53%.
Read the first line – Epicor Payment Exchange is a payment processing service, which is provided by Fiserv – There is no such thing as a “Payment Processing Service”. There are Processors, ISO’s MSPs etc. See Processors versus ISO versus …

The question here is – who are are they an ISO for – they are not an ISO – They do not show up in Visa or MasterCards data base of ISO’s – in short, we can not find anything that shows they are approved by Visa or MasterCard to resell merchant processing – My guess is they are just passing the merchants to Fiserv and getting a kick back or what is called revenue share.
Mid is “Merchant Identification number “aka your processing account number.

Do I need just one MID?

The less MID’s the better: however, sometimes you may need or want more.

If you have multiple locations and they share a deposit account, you can use one MID.

However, the processing networks (Visa, MC etc.) state you should have a separate MID for each location.This drives up the statement/location fees, etc.

If you process differently, such as “Face to Face”, in one location and have another office location taking payments via the phone, email etc, then they should be two different MIDS.

This will ensure you payments are processed at the lowest interchange rate. “Face to Face” has one set of interchange rules, while “Card Not Present” transactions have another, and so on.

Nothing, just like when you go to the store and the cookie lady offers you a free cookie; she hopes you will love it, and then buy the whole bag. We too know you will love how easy we make it to save money, and we want you to move forward with our paid services. However, if not, the free audit is yours to keep just for giving us a chance.
What we do is very different for a few reasons.

1) The most essential difference is we represent the merchant with one simple goal. To get the merchant’s fees as low as possible! The processor represents themselves, and they have one simple goal, to make as much money on the merchant as possible.

2) Experience, our team that puts together the audits has over 100 years of combined experience. We don’t just look at fees; we take a holistic approach and search for the best solutions on the market to lower costs and make processing easier.

Most sales reps have less than five years of experience and, more times than not, have very little working knowledge of the interchange complexities. As well as little to no IT knowledge. More importantly, they can only sell or offer their own services, i.e., a processor would never recommend a gateway or service that another processor offers. Instead, they would be forced to sell you their product whether it is the best solution or not. Again, putting their interest first.

3) We make sure our clients are never locked into contracts, not with us, or any processor, gateways etc.

Credit card processors do everything they can to lock merchants into contracts.

There are many more differences between us, or competitors and processors. Click here to read more.
If you have not yet received your free audit, you can fax your statements to 1-800-672-0392 or click here. Within 3 – 7 business days, you will be contacted by a client services representative with the results of your audit. If you have already received your audit, then you should have received an email with instructions.
That’s up to you and your processor. weAudit.com will do everything possible to restructure the best deal with your current credit card processor if that’s what you want. However, if your current processor will not agree to comply, you will be given an option of staying with your current processor or having weAudit.com find a new processor that will meet the best pricing and billing practices for your situation. That said, over 85% of processors comply.
weAudit.com is the firm that small businesses to Fortune 500 companies turn to for advice on how to lower their merchant processing fees. We believe and strive for 100% transparency in this industry; therefore, you will find all of our fees and costs are fully disclosed. We are recognized as the industry experts in merchant processing by National Association of Credit Management, Credit Research Foundation, Credit Today, Riemer, Coleman Research, and DeMatteo Monness. And we back up everything with a “love us or don’t pay us guarantee”. In October 2019, weAudit.com was awarded the prestigious Torch Award for “Exceptional Ethics and Service”
No problem. Just let us know you no longer wish to have us as an intercessor for your processing needs. You can take back the reins at any time. It’s up to us to earn your business and trust every month! We have a 99% retention rate not because we lock our clients down but because they love what we do for them.