10 Questions Most Merchants Never Ask About their Merchant Statements (And What the Answers Could Be Costing You) - Sponsored Whitepaper

If you are like most hotel and hospitality merchants handling credit cards, you just check your monthly merchant statement to see if the net balance matches your bank deposit. Delving into details can reveal internal and external fraud, catching it early. Detecting costly errors made by credit card companies, banks or processors across locations, merchant IDs or compared to contracts can offer important cash flow savings. Deep dives will discover that instituting new or enforcing current policies will help reduce unnecessary penalties like downgrades and chargebacks.

Changes can improve 4 of the top 10 significant CFO pain points: ability to forecast results, working-capital management, balance-sheet weakness and data security (Source Duke/CFO magazine Global Business Outlook survey).

Most merchants don’t realize that they can negotiate their merchant services. Many don’t realize how important it is to be aware of your processing software and hardware for compliance and the risk and cost that can occur with older systems. Learn the questions you need to ask your team and your vendors. Knowledge can be power while it reduces your costs and liabilities.