Payment card processing expenses directly affect the bottom line profits of businesses. Proactive accounting professionals can help their clients by introducing them to educational resources. In fact a recent survey by Ajilon Finance polled over 500 finance and accounting professionals and found Accountants are spending more time on cost-cutting initiatives and on risk-assessment initiatives, as well as providing general financial advice to their clients.
For many companies, accepting credit cards is essential. Because of this, businesses and merchants can benefit greatly by having a resource to learn more about the specific cost of opening and operating a merchant credit card processing account. Making this decision without the proper knowledge and research can be a costly mistake.
The payment industry is becoming more complex, with new rules and regulations, new pricing and qualification requirements, new payment technology and payment card industry data security compliance. The complexity of the payment systems industry requires professional advice and assistance. Accounting firms can deliver value to clients by adding payment consulting to their list of financial advice initiatives.
Vantage works with accountants in a professional advisory role. We also provide rich internet applications that can be used to easily calculate the real rate cost to accept card payments as well as a benchmarking service to compare costs with other businesses by industry. myRealRate.com provides insight using peer-to-peer networking and the collaborative power of the merchant community to indentify the best rates and calculate possible savings.