BINSmart Cost Manager™: Big Benefit for ISOs, Agents and Small Businesses Date: Feb 09, 2009
Merchant Warehouse’s new product boosts processing cost reduction capabilities to help small merchants
BOSTON, MA — February 9, 2009 — Merchant Warehouse, a premier provider of merchant accounts and credit card processing solutions, today unveiled a new version of its BINSmart Cost Manager™ solution. ISOs and agents are now able to provide merchants with an innovative, patent-pending tool that reduces overall processing costs.
Once a card is swiped, BINSmart Cost Manager™ evaluates whether it is a debit, credit, or corporate card, then it calculates the estimated lowest cost processing method and prompts for the best method to run that sale. This means a real savings, especially welcome news for both merchants and agents in these tough economic times.
“This new product is the first of its kind, and we are excited to offer it to our ISOs and agents to help them build their portfolios,” said Henry Helgeson, president and co-CEO of Merchant Warehouse. “One example of the way it helps save money, BINSmart Cost Manager™ quickly determines whether a debit card transaction should be entered as a PIN or signature-debit. Depending upon a number of factors, including a merchant’s actual fees and business type, it automatically prompts the customer with the estimated lowest cost option. Since more than half of card transactions are now made with debit cards, this means a substantial savings for the merchant. In the past, only large establishments have had access to such cost saving technologies. BINSmart Cost Manager™ actually turns the playing field in favor of the small merchant providing savings opportunities most of the big stores don’t even have.”
BINSmart Cost Manager’s™ benefits:
· Recognizes the difference between a Credit Card, Debit Card, or Corporate Card to estimate lowest processing costs;
· Automatically prompts for PIN or signature when a debit card is used, whichever is estimated to be the lowest processing cost for merchants;
· Reduces consumer “charge-back” disputes/costs;
· Enhances fraud protection with prompt-driven PIN-debit transactions;
· Prompts for entry of additional corporate card information to avoid downgrades;
· Ease-of-use and minimal set-up with the solution fully installed in the credit card terminal;
· Completion verification of daily close-out procedures to avoid downgrades.
More information on BINSmart Cost Manager™ is available at; http://merchantwarehouse.com/iso_agent_program/binsmart.
About Merchant Warehouse
Merchant Warehouse was founded in 1998 on the principle that businesses should be able to purchase credit card processing software, POS equipment and merchant services at a reasonable price. With over 55,000 merchants, Merchant Warehouse now sets the standard for price, innovation, customer service and integrity. For more information, please visit www.MerchantWarehouse.com.
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Contacts:
Brian Waldman, Vice President of Marketing and Strategy
Merchant Warehouse
800.941.6557 Ext. 2050
bwaldman@merchantwarehouse.com
Alexis Gordon
PAN Communications
978.474.1900
merchant@pancomm.com
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