Small businesses may have a new ally in the fight against payment processing fees. Victoria-based MerchAdvisor has launched an online tool to help small and medium-sized businesses to navigate the often complex and confusing world of payment processing, and ultimately save them money.
The free online comparison engine allows business owners to plug in basic information about their operation — what forms of payment they accept, sales volumes, typical transaction sizes and the like — and the engine will generate a list of the top payment processors that will suit their needs.
It also breaks down the fee structure and allows business owners to compare charges line for line to see where companies differ in price and service options.
Then business owners can fill in an application to work with the company of their choice based on cost comparison or service agreements.
Written by Andrew Duffy Times Colonist May 2013