Using Analytics to Manage Payment Acceptance Costs
Presentation Technical Level
Intermediate - The next step beyond the basics. For attendees with some industry experience.
Advanced - Introduction of complex concepts. For attendees with significant industry experience.
Summary of Topic
Understanding Visa, MasterCard and Discover interchange fees is supremely complex given 400+ published rates.
For most U.S. merchants the cost of accepting card payments seem to be always rising. Interchange (including dues and assessments) represents 80-96% of the total cost of accepting cards but it is the least understood. This session will present a case study and highlight how attendees can:
• Simplify 400+ interchange rates into five categories
• Gain customer insights based on cards used
• Identify internal process improvement opportunities based on interchange qualification
• Identify best practices in specific channels/stores that can be applied throughout the organization based on optimal interchange qualification
Attendees will take away a framework and increased level of confidence in understanding card network interchange fees.
Audience Takeaway
Attendees will take away a framework and increased level of confidence in understanding card network interchange fees.
Submitters
Monika R Llorens, Optimized Payments Consulting
Presenters
Anand Goel, Optimized Payments Consulting
Title
CEO
Presenter Biography
Anand Goel is the CEO and Founder of Optimized Payments Consulting. Mr. Goel managed the pricing and profitability team at Elavon for four years prior to starting his consulting practice in 2007. Mr. Goel holds a Bachelor of Business Administration degree from the University of Texas at Austin and an MBA with honors from F.W. Olin Graduate School of Business from Babson College.