Media Release

MERCHANTS MAY BE PAYING UNNECESSARY PROCESSING FEES THAT DRIVE PRICES UP

Redstone Payment Solutions-Nationwide Reveals Smart Alternatives for Retailers

Hackensack, NJ

"Before a retailer sets up shop on the corner or on the Internet, one of the first things he or she needs to do is learn the basic rules of the game," according to Arthur Bergman, President of Redstone Payment Solutions-Nationwide, one of the largest credit card processing organizations in the US. "And the First Commandment is Thou Shalt Not Pay Unnecessary Fees," he continued.

"Many of customers may have had previous experience with credit card processing companies and found them lax, non-communicative, or lacking follow-through," said Bergman. Some retailers do not even know the name of their processing representative. "We are committed to being accessible, and to promptly and personally responding to a merchant's needs," he added. The company helps retailers determine requirement, compare offerings, then offers a proposal that optimizes cash flow while protecting the privacy of the consumer.


Consumers are bullish on credit card usage

The growth of credit card usage among Americans is startling. The average American household has a balance of at least $7,500 (with at least one credit card), compared to ten years ago when the average balance was just under $3,000. Of the approximately 105 million households in the United States, almost 75% have at least one credit card. In 1999, American combined usage of major credit cards (MasterCard, VISA, American Express, and Discover) totaled more than $1 trillion. Meanwhile, on-line charges continue their explosive growth (of $16.8 billion), 17% over 1998 revenue, according to industry figures. How do retailers cope with the challenges and requirements from the more than 500 million VISA, MasterCard, Discover and American Express cards in circulation in the United States?


Free Audit for Merchants

To prevent merchants from making costly mistakes, Redstone Payment Solutions-Nationwide offers a FREE audit to qualified retailers. "This audit helps determine how much a merchant is really paying for processing fees; it also reveals the many hidden costs that can drain cash flow and diminish a company's performance," said Bergman