It wasn’t the first time Tom had switched processors. For 27 years, HeartMath, LLC had provided research-based solutions to help people lower stress, sleep better, and increase resilience, and the company accepted credit cards from the beginning. While the equipment has changed - progressing from clunky “knuckle busters” that took an impression of a credit card to sleek tablet POS systems and online payments - the old sales tricks and rate increases persisted.
Difficulties Finding the Right Merchant Account
“I’ve procured merchant account services for our business for many years. I was always concerned that I didn’t know whether or not I was getting the best rates possible,” Tom explains. “It was difficult to predict and compare our costs on different plans.” Already frustrated at being unable to determine if HeartMath was getting the best pricing, news that his rates were going up sent Tom to the internet to research alternatives. When asked about his role at the company, Tom says “IT Administrator” comes closest. But that doesn’t cover all his duties. “I’m the guy who does the things no one else really wants to do,” he clarifies with a laugh. That includes tasks such as reviewing the company’s utility bills or finding the right merchant account. The “right” merchant account proved elusive. Like clockwork, HeartMath would be notified of rate increases and subsequently change processors every few years. The researching phase for a switch was tedious; there were no readily available options for comparing pricing and Tom disliked how much time the process took. He’d have to call processing companies individually and compare the numbers himself – numbers that were never in same format or based on the same pricing model. That all changed when CardFellow popped up in Tom’s web search.Discovering CardFellow's Credit Card Processing Marketplace
Here was a site that would show real pricing from different processors. No hidden fees, no “teaser” rates, no calling companies individually. “Before CardFellow, I always suspected that I could get better rates if only I had the hours needed to do an in-depth analysis of a lot of different plans,” Tom says. “CardFellow does that easily, and provides apples-to-apples comparisons.” He created a free account and received instant quotes from several credit card processors, in one convenient location, in the same format. The quotes all represented significant savings over his current processing solution, and came with protections not available in the open market. By choosing a certified quote through CardFellow, HeartMath would receive great pricing with a lifetime rate lock, no cancellation fee, and ongoing support from CardFellow. Tom had just one concern: It seemed to good to be true. By providing a lifetime rate lock, CardFellow was offering the exact solution to HeartMath’s frustration with constant rate increases. By offering ongoing support, including statement audits, CardFellow could provide Tom with the peace of mind that comes from knowing that he not only got the best pricing, but that it would stay that way. He decided to give it a shot, locking in a quote through CardFellow that allowed him to save on fees without having to change processing equipment. “We kept the same payment gateway which made accounting and IT very happy,” Tom explains. That was back in 2013.Enjoying CardFellow Protections Years Later
Today, more than 5 years later, HeartMath is still with the processor they found through CardFellow, and happy with the decision. The company saved about 40% on their processing fees over their previous processor’s costs, and knows that they can always turn to CardFellow for help. “CardFellow makes it as easy as possible to get a merchant account with the best rates available,” Tom says. “Our rates are locked in for life. I appreciate CardFellow’s free fee review. This is a huge breakthrough for anyone who’s responsible for managing this aspect of their business.” Tom’s advice for other businesses frustrated by rate increases and pricey merchant accounts? “Don’t let inertia keep you from saving a lot of money for a little effort,” he warns. “There’s no reason not to give CardFellow a try. You comparison shop for everything else. Use CardFellow to do the same with your merchant account rates. The money you save can pay for the raise you’ll deserve by saving so much on merchant fees!” Follow Tom’s lead and try CardFellow today!
Ben Dwyer
Ben Dwyer began his career in the processing industry in 2003 on the sales floor for a Connecticut‐based processor. As he learned more about the inner‐workings of the industry, rampant unethical practices, and lack of assistance available to businesses, he cut ties with his employer and started a blog where he could post accurate information about credit card processing. As the blog gained in popularity, Ben began directly assisting merchants in their search for a processor. Ben believes in empowering businesses by providing access to fair, competitive pricing, accurate information, and continued support. His dedication to transparency and education has made CardFellow a staunch small business advocate in the credit card processing industry.
