Amidst all the talk about credit card surcharges, an online business has developed a service to help business owners keep more of their money.
Chicago-based start-up FeeFighters aims to help merchants save money on credit card fees and also conducts reverse auctions to solicit bids from credit card processing facilities.
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Since the company’s launch in 2009, FeeFighters has saved customers $30 million in processing fees, with a typical user saving 40% in fees.
The company also plans to expand its current payments business product to other business financial services.
FeeFighters emerged out of the frustration of co-founder Sean Harper, who was building an eCommerce store focused on satellite radio equipment and accessories.
He began shopping for credit card processors and realised how hard and time-consuming the process was going to be, prompting him and classmate Josh Krall to create their own hassle-free website.
Any assistance in the way of credit card fees is bound to be well received by customers, so why not develop a similar service here in Australia?