PPT Presentation designed for Training Purposes Expense Reduction - - PowerPoint PPT Presentation

Expense Reduction Solutions for Credit Card Processing PPT Presentation designed for Training Purposes

Pam Duling – Auditor

pam.duling@veriprocess.com

Zach Atzeni – Negotiations

zach.atzeni@veriprocess.com

Ashlee Yunker - Billing

Ashlee.yunker@veriprocess.com

The VeriProcess Audit/Negotiations Team

Affiliate line 800-481-6892 M-F 8:00am – 5:00pm CST

Please leave a message and your call will be returned within 24 hours

• No switching of merchant service provider
• Contingency-based billing – no other fees
• 100% success rate in identifying savings opportunities
• Earn residuals for 3 years
• Average savings for a card not present B2B client is 15%
• Sales cycle: 2-3 months dependent upon documentation received

VeriProcess – Expense Reduction Partner

VeriProcess – Target Industries

Target merchants that process transactions in a card-not- present environment, with a minimum annual volume of $300,000. Some of the highest savings

• pportunities can come from

merchants processing $1M - $15M per year, in card-not- present volume. Examples of industries with higher success rate B2B Associations Automotive Parts (not retail) Corporate accounting firms Cosmetics Distributors Health Industries Hospitals Law Firms Manufacturers Media Companies Non-Profits Safety supplies Ticket Brokers Ecommerce Online retailers Phone/Internet/catalog orders

VeriProcess – CNP

Why are Card Not Present (CNP) businesses better than Card Present businesses?

• 1. When you swipe a card, you

almost always get the best interchange rate possible.

• 2. Businesses that don’t swipe cards

get more commercial customers.

• 3. Fewer MSP reps calling on them to

lower their rates.

• 4. More CNP = more opportunities

for better interchange rates.

Simple card swipe = 2.55% + $0.10 Card Not Present = 2.65%+ $0.10 Level 2 info = 2.05%+ $0.10 Level 3 info = 1.85%+ $0.10 Visa Large Ticket = 1.45%+ $35.00 GSA Large Ticket = 1.20%+ $39.00 Large Ticket = 0.040%+ $58.50 Several possible rates for the same card!

VeriProcess – Complex Fee Structure

Real Fees vs Junk Fees

AVS Fee Bad ACI/Auth CPS disqualified fee Batch fees Batch header fees Capture fees CNP/FANF/LIC Fee Cross Boarder Fee Data breach service plus fees Debit monthly fees Fixed Acquirer Network Fee GAA monthly fees Global ATL fees Interchange Clearing Fee MC NABU Fee Mid-qualified interchange surcharge fees Missing Tran ID IN settlement fees Non-qualified credit card fees Non-qualified interchange surcharge fees Non-verification of PCI compliance fees PCI/DSS Regulatory Fees PCI non-compliance fees Retrieval/12B fees Returns/refund fees Re-underwriting fees Security scanning fees Settlement fees TCI WATS POS Fee Trans does not qualify

VeriProcess – Complex Fee Structure

Real Fees vs Junk Fees

AVS Fee Bad ACI/Auth CPS disqualified fee Batch fees Batch header fees Capture fees CNP/FANF/LIC Fee Cross Boarder Fee Data breach service plus fees Debit monthly fees Fixed Acquirer Network Fee GAA monthly fees Global ATL fees Interchange Clearing Fee MC NABU Fee Mid-qualified interchange surcharge fees Missing Tran ID IN settlement fees Non-qualified credit card fees Non-qualified interchange surcharge fees Non-verification of PCI compliance fees PCI/DSS Regulatory Fees PCI non-compliance fees Retrieval/12B fees Returns/refund fees Re-underwriting fees Security scanning fees Settlement fees TCI WATS POS Fee Trans does not qualify

VeriProcess – Audit Analysis/Results

VeriProcess – Audit Analysis/Results

Non-Negotiable Fees: Association Fees (Interchange and Assessment Fees) Negotiable Fees: Provider-Based Fees (surcharges, monthly fees)

VeriProcess – Monthly Analysis

Every month, we analyze the merchant statement to ensure accurate billing and to measure ongoing savings

How is savings measured?

• The original audit is completed on one month
• That audit shows a net effective rate measured

against a baseline rate

• We request 6+ months statements from the

merchant to produce a BNERD (base net effective rate discount) this is then used to measure the on going savings for 3 years

• The monthly analysis will show a lowered net

effective rate due to our negotiating and clearly displays monthly savings

VeriProcess – Monthly Audit Report

BNERD %

(average of 6 mths stmnts)

Current month % Proposed total savings Merchant is invoiced this amount via ACH at the end of each month

VeriProcess – Monthly Report Phase II

Our Two Phase approach maximizes savings opportunity: 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 II-III processing requirements.

VeriProcess – Obtaining Statements

• Advisor obtains a signed VeriProcess service agreement
• Accounts processing over 1M annually do not require agreement
• Advisor obtains 2-3 recent merchant processing statements
• 6 months of statements will be needed moving forward
• Audits complete on recent statements, nothing over 6 months old
• Verify they are Merchant Statements, not reports
• Statements should be legible and include every page
• If you are aware the merchant has changed providers within the last 6

months, please disclose this information prior to the audit

• Advisor emails documents to bluecoast@veriprocess.com
• Subject line: Statements – Account name
• Merchants that process less than $300k annually do not qualify for an audit

VeriProcess – Receiving Audit Results

VeriProcess sends advisor the audit results within 3 business days Audit results are returned by the end of the 3rd business day not including the day submitted. First year savings must be $2500.00+ to proceed with sale Email will be sent to you with 2 open dates/times within a week Correspond with your client and reply with a date/time that works You will then receive a presentation email invite via GoToMeeting Meeting is set for the advisor, client and a member of the VeriProcess audit team

VeriProcess – Audit Results Call/Closing

Audit Results Call: For best results, be present with your client with MSA and ACH documents If not local, email documents to client prior to call The audit results are reviewed with the merchant with the intent to close the deal The Merchant Statement Authorization (MSA) information is discussed Merchant must also contact their MSP, giving us authorization to their account in order to discuss pricing on their behalf A date will be set by the audit team to confirm this has been completed

VeriProcess – Closing the deal

Results call is complete. The merchant clearly understands our services is aware of the documentation needed to finalize the account. Once VeriProcess receives:

• 6 + months statements to produce a BNERD
• ACH
• MSA (Merchant Statement Authorization)
• With proper access to merchant’s statements
• Merchant has authorized Jordan Thomas to make changes on their behalf
• VeriProcess will schedule a time with merchant to verify that is complete

The Status of the account then goes into Closed/Won and enters Negotiations:

• Advisor will be notified via email when the negotiations are complete.

VeriProcess – Sales Cycle/Sales Pitch

Sales Cycle Audit Results 3 Business Days Negotiations (Phase I Savings) 60-90 Days Possible Phase II Savings 60+ Days (ongoing) Sales Pitch VeriProcess is not a merchant service provider and you do not need to change your processor. We are dedicated to reducing fees associated with payment processing in such a complex industry. It’s a simple solution for the merchant: provide us with recent statements and we do ALL the work. We negotiate with your current provider, lower your fees and continue to monitor your account for the duration of the contract.