Corporate Purchasing Card Processing

Hi,

I run a distribution business and deal with a few Facilities Management companies who pay for goods on Corporate Visa Purchase Cards (typical transaction value is around 500-1000 per time). To date I've pushed around

40,000 worth of business through my current terminal supplied and with the cash collected by Natwest 'Streamline'.

This business is almost entirely from 2 customers - large Blue Chip companies where the money is safe as houses - in other words not Joe Public with the possibility of stolen cards etc - in fact we know all of the buyers and engineers who we supply and 80% of the time the cardholder is present

In a nutshell I'm paying 2.4% per transaction and on the very rare occasion, (about 3 times so far), we supply Joe Public (much smaller amounts) we are charged 29p per Delta/Debit Card transaction.

I personally feel that we are paying way too much for the simple hassle free collection of non risky money. Incidentally we hire the card machine at

24/month from Cardsave.

Does anyone know of any other payment collection companies or would care to comment on the rate we are paying?

Thanks

I'd be inclined to talk to your bank - presumably NatWest?

When their Sales Team signed you up they may not have known the profile of your customers, and may have assumed you were dealing with Joe Public, or at least many businesses. They will have based their

2.4% on a couple of factors: the value of transactions you said you'd be pushing their way, and the risk attached to the transactions.

Given the low risk element you might find they'll reduce the fee, especially if they think they might lose all your other banking business. Depends how far you are prepared to push that point.

On the other side of the coin, the company I work for issues certain employees with P. Cards, and we managed to negotiate a nil fee for card usage, so they can be flexible. This was with NatWest (now RBS).

Rgds,