ReSound is a manufacturer of innovative hearing solutions with offices in more than 25 countries. For almost a decade, the company was using a large bank to handle its credit card processing.
“For years, we tried to get the bank to help us reach Level 3 processing and save us money,” recalls Pete Marcaccini, director of treasury at ReSound. “It didn’t matter who we spoke with at the bank, the end result was that if we wanted a chance at lower rates, we’d have to make a lot of internal software changes. The whole thing was daunting and would require so much time and resources that we just couldn’t make it happen.”
Monthly Cost Savings Through Innovative Proprietary Processing Technology
Like many organizations that perform credit card transactions, Marcaccini says that he is frequently solicited by processing companies who promise to lower his fees. One day, he received a call from EVO B2B, who told him that they had a way for ReSound to take advantage of Level 3 purchasing cards without having to change its software. Marcaccini challenged EVO B2B to prove it and a pilot was launched. Sure enough, EVO B2B’s propriety software allowed ReSound to take advantage of Level 3 cards and, therefore, receive a reduction in fees.
Of course, ReSound’s previous processor didn’t give up easily.
“They really didn’t want to lose our business, so they said they could do the same thing for us that EVO B2B did,” says Marcaccini. “We went back and forth and they kept saying that to make it work we’d need to change our software.”
Marcaccini goes on to say that with EVO B2B, he didn’t have to change anything on ReSound’s end.
In a desperate last ditch effort to retain ReSound’s business, the bank warned Marcaccini that EVO B2B was too good to be true.
“We did our due diligence and discovered that EVO B2B has a great reputation for using its proprietary technology to save its customers money,” he says. “Since making the switch, EVO B2B has been saving us an average of $10,000 each month in processing fees.”
EVO B2B = Trusted Advisor
Beyond traditional payments, Marcaccini says that he also mentioned to EVO B2B his interest in a new idea.
“We wanted to create a new business application for selling our devices but had some concerns about the high number of monthly transactions,” he says. “EVO B2B explained that they have experience with utility billing so our new application wouldn’t be a problem for them to accommodate.”
Because the application required custom coding, EVO B2B was able to introduce ReSound to one of its application development partners who could help.
“They made some changes to our website to create a conduit between customers, ReSound, and EVO B2B for the credit card processing,” says Marcaccini. “We’re still working through some details to roll this out to customers, but all the functionality is there and ready to go.”
In addition, Marcaccini says that he was tasked with incorporating ACH payments as part of ReSound’s ecommerce initiative.
“We called up EVO B2B and they were on the spot to answer the questions and help us set it up immediately,” he says.
Rate Analysis Guarantees Cost Savings
Whereas some processors lure in customers with a promise of lower rates, only to raise them later, Marcaccini says that he has a monthly rate review with EVO B2B to ensure he continues to receive the best possible rates.
“We receive an analysis every month via EVO B2B’s Interchange Management Services,” he says. “There’s complete transparency and we can see our overall cost savings. If there are ways we can achieve lower rates with our card mix, we’re told.”
Such clarity and savings helped Marcaccini to convince ReSound’s sister company, Beltone, to move its retail locations over to EVO B2B as well. While EVO B2B doesn’t typically work with B2C customers, in this case the company was able to switch Beltone’s 50 retail dispensers (i.e. stores) over to EVO B2B and ensure they were receiving much better rates. Additionally, Marcaccini says that EVO B2B has been helpful supporting each dispenser.
“We’re often buying and selling dispensers and when we do, the credit card terminals need to be updated,” he says. “We make one call to EVO B2B to let them know about a new location and they get the terminals reprogrammed immediately.”
Finally, EVO B2B is also helping Beltone with its EMV upgrades at its retail locations.
Marcaccini says that in the time since he’s been working with EVO B2B, he continues to receive solicitations from other processors.
“I was approached by another supplier that is cheaper than EVO B2B,” he admits, “but cheaper isn’t better. They don’t have the services and support that EVO B2B provides us on a daily basis as a true partner to our business.”