The cost of acquiring is significantly higher than for banking; pricing is more complex, with variances between card type, country of origin, transaction acceptance method all impacting, along with the pricing model applied by the acquirer.
As card acceptance continues to increase, these costs have come into even sharper focus thanks to the myriad of changes to interchange prices over the past two years and specifically the removal of the 50p cap for domestic Visa Debit transactions.
The ad valorem basis of card fees and growing throughput makes it imperative to have the correct pricing model with lowest rates available. Finalysis has a deep understanding of current pricing and is in the best position to advise on the most appropriate course of action to take, be that a review or tender process.
A review allows the University to ensure it is keeping up with best practice, whilst at the same time allowing it to satisfy the Governing Body that “Value for Money” is being achieved. As well as all cost aspects, a review will analyse the performance of or potential for Dynamic Currency Conversion at the University.
Through the report, Finalysis will opine as to the likelihood of achieving the optimum pricing outcome through negotiation, which Finalysis would undertake, or whether a tender process managed by Finalysis should be considered.