Our AI and machine learning tools quickly and accurately analyze client contracts and credit card processing statements to uncover valuable insights. We leverage these insights to identify cost-saving opportunities and deliver the best possible results for our customers.
We’ve simplified the process from analysis through negotiation to minimize payment processing expenses without affecting your daily operations.
We conduct a forensic analysis of pricing, contracts, processes and technology/hardware, to ensure full transparency and accountability in your existing processor relationship.
Our payment industry specialists guide you through the negotiation until the new contract pricing takes effect, and conduct monthly monitoring to report on savings.
Our comprehensive monthly monitoring service safeguards your contract pricing, maintains accountability from your processor and uncovers new opportunities for savings.
Our Achievements in Numbers
Since 2004, Payment Brokers has been instrumental in facilitating negotiations on over seven billion dollars worth of transactions, saving over ten million dollars for over three hundred customers nationwide.
We’ve consulted over $7 billion dollars in transactions as of 2022.
Our clients have achieved ~$10M in savings as of 2022.
We’ve worked with 320+ clients from start up to fortune 50.
Payment Brokers helps analyze your current payment vendors, processes, regulatory and compliance and technologies used to find efficiencies and real, tangible savings. Then we compare other, top-tier payment vendors and utilize the information to negotiate with your existing payment vendor. The result is getting more from your existing providers without making complicated changes.
Do I have to switch Payment Processors?Jeremy Lessaris2023-06-12T02:41:45+00:00
Since there is no money out-of-pocket expense for our clients, we often get asked how we make money.
There are 4 main areas where payment brokers can earn money.
Splitting the savings. If our clients decide they want our help to negotiate the savings on their behalf, we calculate the monthly savings based on a monthly analysis and split those savings with our client.
Contract placement & referral fees. Although many of our clients stay with the same service providers, in the event that a new service provider is selected or requested by the merchant, we may be able to receive a referral fee from the service provider of our client’s choice.
Stand Alone Statement Analysis or Contact Review Services. For companies that do not decide to use our negotiation or contract placement services (no cost), we can offer a stand-alone, monthly statement analysis or contractual agreement review for a fee.
Custom Payment Technology Development Services. Payment Brokers has years of coding, development, and integration experience and has deployed complex payment systems for clients that can be contracted as a service.
Savings can vary greatly depending on your processing revenue, the volume of transactions, the complexity of your payment infrastructure, and current pricing. Payment Brokers will only work with companies that save a minimum of $100/mth. However, on average, our customers save significantly more.
Does you sell or lease equipment or POS systems?Jeremy Lessaris2023-06-12T02:41:45+00:00
NO! We do not sell, lease or profit from the sale or use of hardware/equipment, software or POS systems. As such, we also DO NOT service or maintain equipment. We are happy to make recommendations but we do not have any business arrangements with these hardware and software providers.
Can I negotiate with my processor directly?Jeremy Lessaris2023-06-12T02:41:45+00:00
YES! Actually, there are hundreds of articles online on how to analyze your processing statements, books written on how the processing business works, and public information published by all card brands on interchange. You can utilize this information to help educate yourself on pricing, evaluate your existing pricing, and contact your ISO/agent or acquirer directly to discuss your pricing.
Every merchant has a contract with the credit card processor, what matters most is the term of the contract, its conditions, and the value of the contract. Many service providers are lenient on contracts in order to prevent the loss of an account long-term.
How long does the negotiation take?Jeremy Lessaris2023-06-12T02:41:44+00:00