Tens of thousands of companies are paying too much for credit card processing because they focused on rate instead of comparing true cost to true cost when selecting a processor relationship.

True cost takes into consideration the avoidable "downgrades" and surcharges that eat into your profits. A downgrade occurs when a transaction is not processed according to the exact specifications outlined by the merchant processor and the acquiring bank. When a transaction is downgraded, the fees you pay go up... sometimes as much as 100 basis points, or 1 percent.

Here are just a few of the reasons your transactions get downgraded:

• Batches are not closed on a daily basis
• Mail Order, Phone Order, or Internet Order merchants not using AVS
• Capturing transactions without a previously approved authorization
• Capturing a different amount than was previously authorized
• Not sending Level II/III data on business cards and purchasing cards

Diamond Mind is not in business to merely set up your merchant account. We're in business to do it right. Our dedication to superior service has led to the development of practical and innovative programs to turn the acceptance of credit cards to your financial advantage.

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