[RetailEdge Moderator]

Every week we hear from customers who are wondering if they are getting the best processing rates from RetailEdge's credit card processing partners.

And now with new "disrupters" like Square who have a lot of marketing muscle pushing their messages out with force, people are more confused than ever.

How to Do it.

All our processing partners should be providing you with Match or Beat rates. To try to keep an eye on this we put our money where our mouth is and use one of our processing partners to process credit cards for our business.

Here are some things that you can do to save money.

Learn how to determine what you are paying. Statements can be confusing and hard to read. However you can calculate your effective rate simply by taking THIS month's processing fees and dividing them by LAST month's sales. You should find that your effective rate is very good.

Ask for a rate review. Your credit card processing rates are based on lots of factors. Volume, average ticket size and business type all affect your rates. If your business has changed or you have a quote in writing that is too good to be true, contact your processor and ask for a rate review. We typically feel this should be done every six months to a year anyway.

Get Gift Cards. Processing fees typically include a transaction fee. RetailEdge has gift cards built into the program so that you don't get hit with transaction fees when using gift cards. If your average ticket is only a few dollars then transaction fees can add up. In addition to the other advantages like in-wallet branding and loyalty tie-ins there is a reason people like Starbucks are pushing Gift Cards. Lots of savings.