Who's in your Wallet?
How the banks are stacking the deck against small business owners using consumer reward programs.
At first glance, it may seem that the banks have all the power when it comes to credit card processing fees and rewards. After all, they are the ones who set the terms for these fees and determine how those fees will be split among merchants and consumers. However, small businesses have also been getting a bad deal from the banks, as high processing fees in correlation to consumer rewards can make life extremely difficult for small business owners.
Have you ever wondered why your credit card rewards seem to be getting better and better? Travel credits, cash back, and dining credits are just a few of the high-value rewards that banks are offering these days. But what you may not realize is that these rewards are actually being funded by the merchants themselves. That's right - when you swipe your credit card, the bank is not actually paying for the rewards.
Instead, they are leaving the merchants to foot the bill. This practice is known as 'interchange compliance', and it means that businesses have no say in how much money is taken out of their bank account to fund credit card rewards. In other words, the game is rigged - and the banks have stacked the deck in their favor. So next time you're enjoying those big rewards, remember that it's the businesses who are actually paying for them.
Fortunately, KickFees has developed a unique two-pricing model that puts power back into the hands of small businesses. By offering lower prices for customers who choose to pay in cash, KickFees gives entrepreneurs an incentive to encourage consumers to use cash whenever possible. And with KickFees' innovative Fee Defender technology, merchants no longer have to pay exorbitant credit card processing fees that take a huge chunk out of their profits.
So if you're sick of being treated like just another mark by the banks, then join the KickFees revolution today and start reclaiming control over your business!