For American businesses, credit card acceptance is one of the largest, and fastest-growing, operating costs. In fact, since 2005, the interchange cost of Visa’s and MasterCard’s premium rewards cards has risen by 24%.
And yet, while these costs were increasing in America, they were decreasing throughout the rest of the world. In countries where passing on the credit card fee is permitted, economic research shows that the cost of card acceptance has been significantly reduced. In Australia, 60+% of merchants no longer incur these fees and due to a law change here in America, merchants no longer need to either, saving them thousands annually.
There is a new normal in the payment processing industry. We are the experts and differentiate ourselves at the leading edge of technology and compliance. TURNKEY offers a customer friendly experience. By enabling the customer to choose a no fee payment option, we create cost transparency and equip customers to “comparison shop” among payment types. This applies competitive pressure to the prices charged by credit card companies.
Our patent-pending technology for payments in person, in office, and online, determines card type and cost of acceptance in less than a second. We are the only ones in the industry that can do this.
Moreover, this turnkey solution is designed for seamless compliance in the evolving regulatory landscape—and we’re the ones leading the change, all the way to the U.S. Supreme Court.
