How do you analyze a processing statement to give you the best chance of closing the deal?  There are three key questions you need to ask. 

This edition of the Merchant Sales Insight is sponsored by ISO Amp, the leader in full service statement analysis.  Visit https://www.getisoamp.com for more information.

I do believe in having statements fully analyzed.  However, there are some simple things to look for and understand which enable you to discuss a processing statement with a merchant, whether you send it to ISO Amp or not.  The key is asking three questions: 


  1. Why am I analyzing this statement?  Desiring to match the rate?  Trying to maximize savings?  Seeking Interchange Optimization?
  2. How are they processing payments?  You’ll be lost if you don’t realize you are looking at a high risk or an eCommerce statement, regardless of how well you categorize the fees.  
  3. Ask who is charging the fee?  This is the key to understanding each fee on a statement.  Is it charged by the issuing bank? (Interchange)  One of the Card Brands? (Visa, Mastercard, Discover)  The payment processor?  Or, it could be charged by a technology provider.  Understanding who is charging the fee is a key to understanding that fee and how it will impact your proposal.


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