Online Payments Consulting: Strategize Your Payment
Leverage industry wisdom and expertise to optimize business results.
Looking for targeted and actionable guidance?
Purpose-built to empower the payments industry
When our clients needed expertise and guidance to solve specific payment challenges, they turned to the experts at Optimized Payments. We’ve worked with hundreds of merchants – some of the biggest global brands – to tackle tough payment challenges, reduce involuntary churn, save subscribers, reduce fees, and increase lifetime value of customers.
Purpose-builtto empower the payments industry.
STRATEGIZE in 6 key areas
We pride ourselves on helping businesses take a holistic approach to their payments. Here’s how we do it.
Interchange Optimization & 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.
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 18+ year history and 700+ 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. We can benchmark approval rates and churn based on data from hundreds of subscriptions merchants across all verticals, billing frequencies, and price points.
Interchange and Process 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 miskeyed pricing happen more often than you’d think, and these mistakes cost you.
Audits of interchange and processor fees are essential to ensure you are paying the lowest possible card processing rates. At Optimized Payments, we provide independent payment processing consulting audits that can help you discover pricing gaps, reveal errors, and deliver cost savings. Our proprietary software easily sifts through millions of records to find gaps and uncover cost-saving opportunities, along with retroactive refunds and credits.
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 needs, we have an experienced payment consultant on staff that can help. With deep industry knowledge and nearly two decades of experience in payments consulting, 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.
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.
BINs, networks and rates change all the time, and we have data that keeps up with all of those changes; determining how you should tweak your strategy given the latest changes in the debit space.
We’ve worked with some of the largest retailers in the U.S., with the largest processing of over 1 billion 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 risks, investigate different transaction routing scenarios, and recommend an optimal solution that delivers the greatest cost savings—sometimes tens of millions annually.