Get More Out of Every Transaction
Reduce credit card processing expenses without changing anything!
- Keep your existing processor
- No hardware, software or POS changes
- No applications or underwriting
Let’s Talk Payments
Cost Reduction Solutions
We leverage insights from AI-powered analysis and over 20 years of payment industry expertise to secure optimal terms and cost savings that impact your bottom line.
Our comprehensive monthly monitoring service safeguards your contract pricing, maintains transparency and accountability from your processor and proactively uncovers new opportunities for savings.
Payment Brokers has over 20 years of payment industry knowledge, deep technology and integration experience, and proven success in negotiation.
Simple Process, More Profit
We’ve simplified the process from analysis through negotiation to minimize payment processing expenses without affecting your daily operations.
Analysis
We conduct a forensic analysis of pricing, contracts, processes and technology/hardware, to ensure full transparency and accountability in your existing processor relationship.
Our Achievements in Numbers
Since 2004, VeriFee has been instrumental in facilitating negotiations on over seven billion dollars worth of transactions, saving over ten million dollars for over three hundred customers nationwide.
$7B
In Transactions
We’ve consulted over $7 billion dollars in transactions as of 2022.
$10M
Savings Achieved
Our clients have achieved ~$10M in savings as of 2022.
320+
Clients
We’ve worked with 320+ clients from start up to fortune 50.
Learn More About VeriFee
Payment Brokers helps analyze your current payment vendors, processes, regulatory and compliance and technologies used to find efficiencies and real, tangible savings. Then we compare other, top-tier payment vendors and utilize the information to negotiate with your existing payment vendor. The result is getting more from your existing providers without making complicated changes.
No! We help companies negotiate with their existing processor and give companies multiple options for payment processing that can help reduce their bottom line expenses.
Since there is no money out-of-pocket expense for our clients, we often get asked how we make money.
There are 4 main areas where payment brokers can earn money.
- Splitting the savings. If our clients decide they want our help to negotiate the savings on their behalf, we calculate the monthly savings based on a monthly analysis and split those savings with our client.
- Contract placement & referral fees. Although many of our clients stay with the same service providers, in the event that a new service provider is selected or requested by the merchant, we may be able to receive a referral fee from the service provider of our client’s choice.
- Stand Alone Statement Analysis or Contact Review Services. For companies that do not decide to use our negotiation or contract placement services (no cost), we can offer a stand-alone, monthly statement analysis or contractual agreement review for a fee.
- Custom Payment Technology Development Services. Payment Brokers has years of coding, development, and integration experience and has deployed complex payment systems for clients that can be contracted as a service.
Savings can vary greatly depending on your processing revenue, the volume of transactions, the complexity of your payment infrastructure, and current pricing. Payment Brokers will only work with companies that save a minimum of $100/mth. However, on average, our customers save significantly more.
NO! We do not sell, lease or profit from the sale or use of hardware/equipment, software or POS systems. As such, we also DO NOT service or maintain equipment. We are happy to make recommendations but we do not have any business arrangements with these hardware and software providers.
YES! Actually, there are hundreds of articles online on how to analyze your processing statements, books written on how the processing business works, and public information published by all card brands on interchange. You can utilize this information to help educate yourself on pricing, evaluate your existing pricing, and contact your ISO/agent or acquirer directly to discuss your pricing.
Here is a link to a great starter book: https://www.amazon.com/gp/product/0982611668
However, DIY negotiations have some major hurdles to achieving the best results which include;
- Understanding interchange and individual transaction classification
- Knowing the rate and fee structures, hidden fees like BIN, assessments, and transaction fees
- Contract terms, points of negotiation, and the likelihood of certain negotiable points
- Profitability of the ISO or ISV (helps to understand what credit card processors and software vendors are willing to accept)
We can work with any size company and almost every industry. However, we do not work with Adult, Casino or Gaming, MLM, or other high-risk or high chargeback category businesses.
Every merchant has a contract with the credit card processor, what matters most is the term of the contract, its conditions, and the value of the contract. Many service providers are lenient on contracts in order to prevent the loss of an account long-term.
Every company is unique, and depending on the size and scope of the project, underwriting requirements the timeframe can range from 1 week to 3 months.
Yes, we can help you look at all options and help you select a processor that is right for your business.