Your Partner in Payments
- With the many priorities you face day to day, being a payments expert isn't at the top of your list of to-dos. Your payment projects are always on the back burner, waiting for the extra time you never get. Luckily, Optimized Payments can help bring those projects to the forefront - without imposing on your limited time. We've helped over 200 merchants (many in the Fortune 500) tackle tough payment challenges and save millions annually. From interchange audits to least-cost debit routing strategies to merchant services RFPs, we have you covered.
We Help You Succeed with Payments
Our consulting services run the gambit. But there are six key areas we find clients need the most help.
Interchange Optimization and Downgrade Management
Interchange makes up about 85% of the total cost of card processing for most large merchants. And there are over 1,000 unique interchange categories. How do you know whether you’re receiving the most favorable interchange rates?
There are many variables that impact the application of a specific interchange rate, such as card type, entry mode, MCC, acceptance environment, transaction amount, and numerous others. While some of these variables can’t be influenced, many can. We can uncover these cost-saving opportunities and improve your bottom line.
Processor, Card Network and Debit Network Fee Benchmarking & Negotiations
While interchange rates are publicly available, data around acquiring and gateway fees and network incentive agreements is not. This makes negotiation difficult at best. So, you can never be sure whether you have an optimal agreement.
Over our 12+ year history and 200+ engagements, we’ve gathered significant market intelligence about these fees and agreements. We leverage these insights to improve your pricing in the form of reduced rates, upfront incentives, and rebates.
Interchange and Processor Fee Audits
When was the last time you performed an independent audit on card processing fees? Most large merchants are on interchange pass-through pricing that allows them to pay published interchange and network fees in addition to negotiated processing fees with their acquirer. Misapplied rules and mis-keyed pricing happen more often than you’d think, and these mistakes cost you.
Our proprietary software easily sifts through millions of records to find gaps and uncover cost-saving opportunities, along with retroactive refunds and credits.
Payments Strategy
Do you need to create a payments strategy, outline a roadmap to achieve a defined strategy, or simply reach specific payment goals? Most merchants have a wish list of payments issues they want to resolve or new solutions they want to implement to save money and enhance the customer experience.
Whatever your payment need, our experienced consultants can help. We’ve undoubtedly helped other merchants with needs just like yours. Let us help you accelerate your implementation timeline, save money by sharing best practices, or help prioritize multiple initiatives by developing informed business cases.
RFP Management
Should you hire an expert to help manage a merchant services RFP? The key to this decision is determining whether you have the time AND needed expertise. A merchant services RFP is VERY different from other RFPs typically managed by procurement groups. A subtle pricing mishap can cost millions per year. A misunderstanding of technical integration capabilities can delay implementation for months.
Optimized Payments has the deep industry expertise to avoid these common pitfalls. We’ve managed over 35 merchant services RFPs, many with complex needs like payment terminal acquisition, gateway and security solutions, omni-channel tokenization, vendor consolidation, etc. Our methodical and experienced approach enables us to complete RFP projects within two to four months.
Least-Cost Debit Routing Strategies
Do you have an optimized least-cost routing strategy, and have you structured optimal incentive agreements with the debit networks? If not, or if you don’t know, we can tell you.
We’ve worked with some of the largest retailers in the U.S., with the largest processing over 800 million debit transactions per year, and we understand all the nuances that can impact card network incentive agreements. In addition, we have sophisticated analytics that can evaluate different transaction routing scenarios and recommend an optimal solution that delivers the greatest cost savings—sometimes millions annually.
Why Optimized Payments?
While there aren’t a lot of companies that do what we do in the payments space, we realize you have options. Here’s why you should choose us:
Current and Past Clients
Testimonials & Case Studies
Providence St. Joseph Health
Testimonial"Providence St Joseph Health, 3rd largest not for profit hospital and health care system in the U.S., needed a consulting firm with deep expertise in payments to help us consolidate and simplify our payments infrastructure across multiple regions and lines of business. After thorough due diligence, we selected Optimized Payments and we couldn’t be happier with our selection and subsequent results. The team at Optimized Payments took the time to really understand the nuances of healthcare and managed a merchant services RFP that delivered great results – consolidation, reporting simplification and millions in cost savings. Simply, Optimized Payments delivered a great return on our investment."
Providence St. Joseph Health
Ratner Companies
Testimonial"We have been working with Optimized Payments for about 11 years. Payments are complex and costly, and when we need help with any aspect of payments like RFPs, analytics or reducing costs, we look to the experts at Optimized Payments. Our time is valuable and the ROI with Optimized makes sense. "
Ratner Companies
Kering Americas
Testimonial"Kering Americas (parent of luxury brands like Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen and Brioni) was looking for a payments consulting firm to help it solve several payments challenges; including enhancing transaction security, consolidating U.S. and Canada operations, evaluating alternative payment methods and managing a merchant services RFP. After interviewing several firms, we selected Optimized Payments. The team at Optimized has been invaluable in helping us achieve our payments goals and save about $1.5 million in processing costs per year. We also have web-based payments analytics that allow us to provide easy to understand metrics and reporting to our luxury brands. I highly recommend Optimized Payments to any merchant looking to reduce costs, implement analytics and/or update their payments strategy."
Kering Americas
U-Haul
Testimonial"We have found a great new partner with Optimized Payments. Over the years we have noticed that our interchange costs have been steadily increasing, to the point of concern. Initially, we attempted to combat this problem internally, however we soon realized we needed precise information that was custom tailored to our method of processing. Optimized Payments provided the very specific, integral information in a timely manner. Within months, we began to realize a very significant amount in interchange and card brand fee savings. What started as a one-time project has now transformed into an ongoing partnership for consulting and analytics as it relates to U-Haul payment space. I would highly recommend Joey Dembek and the team at Optimized Payments to any other large organization, seeking to reduce and streamline the payment processing."
U-Haul
Staples
Testimonial"We had a mandate to update our payments strategy and reduce costs. Given the lack of resources, we turned to the experts at Optimized Payments to help run a merchant services RFP and provide payments analytics to identify cost savings opportunities. The RFP helped us enhance our security solutions and understand the latest offerings in the marketplace. The analytics continue to help us stay on top of key metrics, identify savings opportunities and report savings wins to our management. Optimized Payments is a valuable partner and extension of our team."
Staples
Westgate Resorts
Testimonial"As the largest privately-held vacation ownership company in the world, we take a significant amount of credit card payments for all of our business lines. When we were looking to reduce our card processing fees and streamline reporting and analytics, we turned to the experts Optimized Payments. They were instrumental in aggregating all payments data, including co-branded card data, and identifying savings opportunities. Now, we use Optimized Analytics to track key metrics, identify savings opportunities and track savings on the initiatives we have implemented. Given the quick ROI, Optimized Analytics was an easy choice."
Westgate Resorts
Fiserv
Testimonial"The Biller Solutions arm of Fiserv is an innovative and savvy player in the electronic bill presentment and payment space. While at Fiserv, we identified the need for in-depth expertise on interchange and card network rules, and, as a result of such turned to the experts at Optimized Payments. Optimized Payments was amazing to work with and was able to identify savings opportunities far beyond what we could have imagined. The ROI on hiring these experts was immediate and the process quite simple."
Fiserv
Mid-Sized Insurance Company
Case Study Saw $700K in Annual SavingsEngaging Optimized Payments services, this insurance company was able renegotiate its way to $700K in Annual Savings and centralize their payments data.
Mid-Sized Insurance Company
Chicago Parking Meters
Case Study Saving Over $1.7 million in Transaction FeesFrom identifying high transaction fees to assisting with a new vendor, Optimized Payments was able to help CPM save over $1.7 MM in just the first year alone. Explore more in the full case study.
Chicago Parking Meters
BPM Case Study
Case Study Managing Card Payment CostsFrom benchmarking fees and improving interchange qualification, Optimized Payments was able to help BPM reduce card processing costs by 21%. Explore more in the full case study.
BPM Case Study
Tiffany and Company
Testimonial"Our partners at Optimized Payments have greatly enhanced our ability to manage payments. We have increased our ability to effectively manage cost of acceptance with greater insight into associated fees across all card brands. They have directly impacted our daily settlement reconciliation process creating efficiencies in work processes. With additional insight through the analytics provided by Optimized Payments, we have improved our ability to understand our customers that supports other strategic decisions that are tied directly toward organizational goals."
Tiffany and Company
Burr Pilger Mayer
Testimonial“Burr Pilger Mayer is in the business of providing accounting and consulting services, not being experts in credit card processing. Our card processing costs kept going up and we felt we had no way to control them. We turned to Optimized Payments and they helped us reduce card processing costs by 21%.”
Burr Pilger Mayer
Mid-Sized Insurance Company
Testimonial“We’ve been very happy with the Optimized Payments team. They are incredibly easy to work with and always willing to add more to their solution to help us as our business evolves.”
Mid-Sized Insurance Company
Chicago Parking Meters
Testimonial"OPC’s guidance has provided immense value to me and my team over the past eight years. They have helped boost our bottom line, navigate vendor selection, and even taught me a thing or two about the payments industry. I feel like an expert!"
Chicago Parking Meters
AutoNation
Testimonial“I have no regrets whatsoever over the last ten years we’ve worked with Optimized Payments. They provide in-depth knowledge about one of our largest cost items and enable me to focus on things other than number crunching or quantifying anything related to payment processing. That’s a huge relief. The whole team is simply fantastic and so customer focused.”
AutoNation
AutoNation
Case Study Taking Charge of Chargebacks & Upgrading DowngradesFrom streamlining chargebacks to effectively reducing downgrades, Optimized Payments has provided AutoNation with over $1 million in savings. Explore more in the full case study.