RevNew IFA Program Overview
- As a three year preferred vendor of the IFA, Clarus has developed this IFA payment processing program specifically for the factoring industry. It's straightforward and fully compliant.
- This program was designed to help IFA members expedite collections, streamline the payment process, and keep their credit card processing costs to a minimum or even eliminate them.
- Additionally, we make sure you are compliant with MasterCard & Visa guidelines for passing credit card processing fees to clients as infractions may result in fees, penalties, and potential blacklisting.
Smooth processing of credit card transactions.
A unique reporting tool that tracks each transaction, ideal for streamlined bookkeeping and precise account reconciliation.
Payment gateway for quick, easy payment processing including tokenization and PCI compliant storage of customer data.
Passing along the processing costs to clients, via a nominal 3.95% surcharge fee within the guidelines set by Visa & Mastercard, eliminating potential fees and penalties.
NO contracts, cancellation fees, orlong term obligations.
Designed with IFA members for ease of use and ensures proper allocation of processing expenses to clients.
Able to process American Express transactions.
What is Zero Cost Credit?
- Traditionally, a business accepts credit cards and is charged processing fees at the end of each month. Zero Cost Credit is a Visa, MasterCard, and American Express program designed to help factors shift the cost of card acceptance to the client.
- When account debtors pay with a credit card, the client covers the processing fees traditionally charged to you, the factor. Now the business keeps 100% of every credit card sale: when you sell $100, you receive $100. No month end interchange fees and costs.
- At the end of the month, you receive a report detailing the customer transactions and associated processing fees allowing you to accurately pass the processing fees to your clients.
- Our turnkey solution adheres with all the rules and regulations, and insures you are fully compliant with the card brands.
- CLIENT: Current IFA Member
- INDUSTRY: Factoring
- TIME FRAME: Jan. 2017 - May 2019
Average Monthly Processing Totals
Processing Fees Paid
The factor, after implementing Zero Cost Credit, has seen their bottom-line increase by $298,000 annually, or 894 in reduced expenses over 3 years!
INCREASE TO BOTTOM LINE
INCREASE TO BOTTOM LINE
Download a PDF version of this case study.
What Does This Mean for You?
Simply put... You have $298K in reduction of credit card processing costs annually.
However you want to look at it, you now have the ability to control your processing costs, and the benefits that it provides...
How Much Will You Save With RevNew?
How much do you process in credit card payments annually?
By utilizing RevNew, you could potentially save $0.58 - $0.81 or more annually.
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