Take Charge- Managing Credit Card Costs Behind the Scenes

his is why, for a single-location shop like Flanners, Anfang has also independently researched rates beyond even what Pro Group offers. She found that credit card companies charge different rates depending on the business. Furtheremore, she found that e-commerce transactions offer higher processing costs. "Blended rates depend on the mix of the group," says Anfang, which benefits some retailers while it hurts others.

Anfang recommends, "interviewing and getting bids from various processors. Start with your bank and see who your bank is affiliated with. Typically, they may be able to work out some deals."

In her case, she says Flanners fared better finding its own processor. "We have our own Flanners credit card; we also get finance programs though GSC," she explains.