You don't have to switch processors to start saving money today. Here are five things any business owner can do right now to reduce credit card processing costs.
1. Always Use the Terminal (Never Key In)
When you type a card number manually instead of swiping or dipping, the interchange rate jumps 0.5–1%. On a $200 transaction, that's an extra $1–$2. If you key in 10 transactions a day, that's $300–$600/year in unnecessary fees.
Fix: always swipe, dip, or tap. If the chip reader isn't working, get it fixed immediately.
2. Batch Out Every Day
Some processors charge higher rates on transactions that aren't settled (batched) within 24 hours. Close your batch at the end of every business day. Most terminals can do this automatically.
3. Know Your Effective Rate
Total fees ÷ total volume × 100 = your effective rate. If you don't know this number, you can't negotiate. Check it monthly. If it's above 2.5% for card-present, you're likely overpaying.
4. Negotiate (Yes, You Can)
Call your processor and tell them you're considering switching. Ask for a rate review. Many will lower your markup to keep you — especially if you've been a customer for over a year.
5. Switch to Interchange-Plus
This is the biggest lever. If you're on tiered or flat-rate pricing and processing over $20K/month, switching to interchange-plus can save 15–30% on your processing costs.
That's what PAYHERO offers. Run your statement through our analyzer to see how much you could save — it takes about 60 seconds.