Maximize Your Profits with RewardPay Choice

Introducing RewardPay Choice

Credit card processing fees represent a significant operational expense for most business owners and operators, often ranking among the highest fees incurred in running operations.

While specific rankings may vary depending on the industry and individual circumstances, credit card fees typically vie for the top spot alongside other major expenses such as rent, labor costs, and inventory procurement. In fact, in a survey conducted by the Electronic Transactions Association (ETA), 60% of small businesses cited credit card processing fees as their biggest financial challenge, emphasizing the substantial impact of these fees on their operations.

Many merchants simply think that this is an unavoidable cost of doing business, and, indeed for a long time they were right. Prior to 2013, major credit card networks like Visa and Mastercard prohibited merchants from imposing surcharges on credit card transactions due to their interchange fee regulations. Today, not only is surcharging green-lighted, but it's an incredibly effective way to lower payment card acceptance fees, enhance profitability, and drive business growth.

If you're tired of bearing the burden of high payment card acceptance fees, it's time for a new strategy.  Introducing RewardPay Choice, a fully compliant surcharge program, powered by Payroc and available through FieldServio. 

Here's everything you need to know and how to get started: 

What is Surcharging?

Surcharging is a practice where merchants pass on the cost of credit card transactions to the cardholder, effectively eliminating or significantly reducing their payment processing fees. It's a win-win situation where merchants can alleviate the strain of high transaction costs while customers retain the choice to pay with their preferred method.

How Does it Work?

RewardPay Choice, powered by Payroc and available through FieldServio, seamlessly integrates surcharging into your payment processing system. It automatically adds a small fee to credit card transactions, offsetting the cost of card acceptance. This fee is transparently displayed to the customer before they finalize their purchase, ensuring compliance and fairness.

Compliance Considerations

When implementing surcharging, compliance is paramount. RewardPay Choice, powered by Payroc, ensures full compliance with card brand rules and regulations. Our solution takes care of all the intricate details, so you can focus on running your business with peace of mind. Plus, with FieldServio's embedded payment solution, the process becomes even smoother.

What are the Benefits to Software Clients?

The benefits of surcharging are immense:

1. Significant Cost Savings: On average, FieldServio customers lower their payment card acceptance fees by 70%+ when implementing surcharging. Imagine the impact this could have on your bottom line.
2. Reinvestment Opportunities: The savings from payment card fees can be reinvested into your business to accelerate growth. Whether it's expanding your product line, enhancing customer experiences, or improving operational efficiency, surcharging frees up capital for strategic investments.
3. Fairness and Transparency: Surcharging ensures fairness in payment processing. By passing on the cost to cardholders who choose to pay with credit cards, you maintain profitability without sacrificing customer satisfaction.
   
   

Take Action Today

Ready to unlock the full potential of surcharging with RewardPay Choice powered by Payroc? Contact FieldServio to enroll for surcharging and start maximizing your profits.

Delivering top-tier field services software solutions requires collaboration with highly specialized experts. That's why we've partnered with Payroc, an award-winning integrated payments leader. Payroc seamlessly embeds payments into FieldServio, streamlining billing and payment collection processes for your business and the customers you serve. 

With Payroc, all billing and payment activities are centralized within your FieldServio software, eliminating the need to work between systems. This simplifies reporting and reconciliation by removing inefficient processes. Customers can easily make payments online using their preferred payment method.