How Did Rate Tracker Get Started?
Rate Tracker was created to start a movement in the payment industry. Small business owners are often taken advantage of by credit card processors because they know that those business owners rely on them to make money. Likewise, the processors also know that small business owners are far too busy to read over their statements every month. Even if they did have the time, most people can’t make heads or tails of what they are reading.
This lack of clarity is allowing the payments industry to trample the small business owners in our country and slowly line their own pockets with your hard-earned money!
There are two stories that come to mind when people ask us why we created Rate Tracker. Both involve merchants who were losing money due to unknown processing rate increases.
The first story is about a merchant who we asked to test out our beta version of Rate Tracker. He was adamant about not switching processors because he believed he was getting great rates.
After using Rate Tracker, he realized that he was actually paying way more than he thought and immediately switched payment processors.
The next story is about another merchant who never looked at his statement from his processor. Two years went by without him ever knowing that they raised his rates. That mistake totaled at about $10,000 of additional fees that he was way paying due to not tracking his rates.
Our goal of creating Rate Tracker is to bring transparency into the payments industry so that small business owners can take control over their credit card processing rates.
Learn More About Rate Tracker
If you are interested in learning more about how Rate Tracker works or to get started, contact us today!