- Monday - Friday 9 AM - 5 PM
- 43300 Southern Walk Plz #166 Ashburn, VA 20148, USA
- 515 Consumers Rd #210 North York, ON, M2J4Z2, CANADA
- (+1) (202) 902-6226
Reginal Memorial Hospital
Story
The hospital had two merchant accounts at the time of our discovery meeting with the CFO: (1) countertop payments across all business lines and (2) online payments integrated with their accounting software.
In the past eight years, the merchant processing rates have continued to increase twice a year on average 5 bps (0.05%) per occurrence.
Having multiple departments (Pharmacy, Cafeteria, Parking, Billing, etc. ) did not provide senior management with the necessary reports, and higher than average processing fees were overcharged.
How we helped
With the optimization of the interchange for each department, we were able to help them reduce 8% of their current processing fees and negotiate a rate reduction of 0.80 bps (0.80%) based on the 8-year increase.
Consequently, our client has received two rate increases since we launched our watchlist service in 2018, which was flagged on our end and our client received a refund.
Result
Avrage Monthly CreditCard Valume: $700,000 USD
Annual processing valume: $8,389,000 USD
- Annual saving $57,697 USD
- NO rate increase last 2 years!
- Detail reporting on each department
