Your New Processor?
Over the last year or two, some of the largest credit card processing companies
have merged and acquired each other. The biggest players in the US and Europe
have consolidated their power and paid big money to acquire your account.
Many of the companies that handle dental management software were swept up
in these series of acquisitions. I have found over the years that most people using
dental management software to take credit cards have effective rates of 3-5% or
more. This is why you’ve probably received more calls from your software company
trying to get you to switch your processing for the convenience of use.
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sons. The companies that acquired the rights to integrate with your software are
looking to recoup their investment as soon as possible, which means higher rates.
does that convenience become a burden to your budget and too expensive to continue
to use for processing credit cards. Use it for your dental management needs.
Don’t let them make you think it takes two minutes to key in a six-digit number
when you do a credit card sale outside their system. It’s the same type of entry as if
the patient paid by check.
If you look at your statement you’ll see that there is a new cast of players showing
up as your processing company. This now allows you the opportunity to switch
your processing bank. Most of these companies being acquired had contracts with
renewals which would allow you to walk away at the end of your contract. You may
have gotten calls trying to get you to sign new contracts with your “new” company.
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