BlueYonder for Plastic Surgery Centers

This case study focuses on a current BlueYonder merchant.


Client: High profile Plastic Surgery Center located in Newport Beach, California.

Their procedures range from $1,500 to $35,000.78% of all their procedures are run on their patient credit cards.


Key problems client was looking to solve:

  • Their current processor was charging and average of 2.5% a month in processing fees.
  • Client was spending $9,000 to $16,000 a month in merchant processing fees, totaling to more than $120,000 in credit card processing fees per year.

Solution:

  • A simple consult was given on the proper set-up and communications, so that patients were easily informed of the fee’s that would be passed to them if they opted to use their credit or debit card to pay for their procedures.
  • Client and office staff were educated on the operations and legality of the BlueYonder Processing Program. They were provided with all the BlueYonder credentials and the certifications which allow the program to run in all 50 states.
  • They were given examples of how other medical practices currently run BlueYonder, and shown examples of other medical clinics monthly statements, clearly displaying the flat $65 a month with no other fees.
  • Client was informed there are no contracts with BlueYonder, and all processing equipment is provided at no cost.
  • BlueYonder suggested 3-month test pilot.

Action:

  • Client opted to test BlueYonder starting in January 2018.
  • BlueYonder installed processing terminal at no cost and no contract. Provided collateral and provided simple staff training.
  • Initially, client did not cancel their current processor and opted to keep their processing account open while they piloted BlueYonder’s no fee merchant processing system.

Results:

  • After 2 months of running BlueYonder without any issues, they canceled their expensive processor and have since run BlueYonder for 12 consecutive months ongoing.
  • They pay a flat $65 a month for unlimited credit card processing with no other fees.
  • In their first 12 months, client ran $4,797,482 in credit card processing saving a total of $129,532 in fees.

The chart below, shows clients month by month savings.

BlueYonder’s unique processing system runs flawlessly in medical practices nationally. For any medical practice that accepts credit cards the program is a great fit. The card processing rules have changed, whereby many medical practitioners have not been privy to these changes by Congress and the card processing rules.

No matter what type of medical practice you own, if you take credit and debit cards as a form of payment, BlueYonder’s credit card processing program will work for you. It is a simple fix. Nothing changes in your practice except the high volume of savings you will enjoy. Many of our medical practice enjoy savings we have shared in this case study.


If saving $50,000 to upwards of $200,000 a year is relevant to you and your business, give us a call.

We will transparently walk your through our program.

You have nothing to lose and you can test our program with no commitment.


To see how much BlueYonder can save your practice, call at 800-270- 9285

or use this Contact Form

Invalid Email Address.

Invalid phone Format
By checking this box you agree to receive email information from Blue Yonder

The Business Sense of Using BlueYonder

Fact: BlueYonder is $65 a month for unlimited processing. No other fees.

 

Is using BlueYonder right for your business?

To answer this question, let’s have a look at your credit card processing numbers.

For most businesses, when you include ALL the fees your processor charges, you pay 2.2% to 2.8%. In the chart below, we use a conservative 2.5%. The chart below reflects what you are currently paying to process cards this month. And over the next 5 years.

Study this chart, find your monthly volume of card processing and go from left to right. Whether you’re a big business or a small business, your processing costs add up quick.

 

 

*Chart below reflects your current 2.5% processing costs

 

As you are aware, these processing costs are occurring in REAL TIME. With BlueYonder you can reclaim this revenue.

Our technology enables you to pass the processing fees to your customer. In compliance with card processor regulations on state and federal levels.

With BlueYonder you stop paying your high credit card processing fees and enjoy $65 a month for unlimited processing. No other fees.


Start the savings today,

call 800-270-9285

Or fill in the email form and one of our account specialists will contact you direct.

Top 3 Things You Need to Know BEFORE Buying a Merchant Processing Account

     Selecting a merchant service provider is one of the most important relationships you will establish for your business. Without doing your proper due diligence, before settling on a merchant service provider, you could end up paying thousands more in transaction fees – and not even know it! With a host of merchant processing providers to choose from, it is important to understand three key terms and how they will likely influence how much you will pay in processing fees.



Understanding Interchange Fees

What are they? What should I know?

 

Interchange fees are the underlying cost of processing a credit card sale. This is one of the single most important factors that will influence your transaction fees. When you swipe a customer’s credit card there are a host of entities that are involved with executing the transaction, including the merchant service provider, the card-issuing bank, the credit card association (Visa, MasterCard, Discover, or American Express). It is the credit card association or network that sets the interchange rates and fees. For every credit or debit card transaction, there is a pre-set rate that the merchant service provider is required to pay. The rate can fluctuate with some cards having a higher rate while others have a lower rate. One general rule of thumb is that the interchange fee is often directly related to the cost that each bank has for the respective card. For example, cards with lots of consumer perks or bonuses often have a higher cost to the card-issuing bank to recoup, therefore the interchange fees for these cards are usually higher.

Approximately 90% of your fees will be due to the interchange fees charged by credit card networks. Since these fees are solely determined by the credit card networks, what you pay in interchange fees does not go to your merchant service provider, nor do they have the ability to change these fees. And, in some instance, the interchange rates will vary depending on if the card is physically swiped versus used for an online transaction.

When it comes to interchange fees, there are hundreds of different rates. Here is an example of an interchange rate table. Keep in mind that no matter how large (or small) your transactions, every merchant service provider is subject to paying these rates and fees – with no exceptions.

 

Swipped/Dipped Keyed-In/eCommerce
Basic Credit 1.51% + $0.10 1.80% + $0.10
Signature/Traditional
Rewards Credit
1.35% + $0.10 1.95% + $0.10
“Preferred” Rewards Credit 2.10% + $0.10 2.10% + $0.10 /
2.40% + $0.10
Small Bank Debit 0.80% + $0.15 1.65% + $0.15
Big Bank Debit 0.05% + $0.21 0.05% + $0.21

 

 


Understanding Tiered Pricing

What is it? What should I know?

 

Tiered merchant account pricing is a common fee that most merchant providers charge. However, this is where a lot of the hidden fees occur since how tiered pricing is determined or what rates are charges can change from one provider to the next. Unlike interchange fees that are set by the credit card networks, tiered pricing is determined solely by the merchant provider and can be influenced by a variety of arbitrary factors.

 

With tiered pricing, credit card processing companies bundle the hundreds of different types of transactions into three different tiers: “Qualified”, “Mid-Qualified”, and “Non-Qualified”. Depending on what tier a transaction is assigned to will determine what fixed amount you are charged for that transaction, regardless of the credit card processor’s underlying cost.

 

The common issue with tiered pricing is that the fees you are charged, are often inflated and deciphering exactly how these rates are set are almost impossible to determine. Being aware of promotional tier rates is important as well, as merchant service providers often use these teaser rates to lock businesses into a contract, only to balloon the tiered rates later.

 

How are transactions grouped into tiers?

 

In general, the tiers are determined by how you receive credit card payments. For example, if credit card payments are collected using a physical terminal in a retail store, those transactions are likely to be labeled as “Qualified” transactions. However, if credit card information is done over the phone to process payments, this could be considered a “Mid-Qualified” transaction and would be charged a different rate. If instead,  customers make online payments with their credit card, these can be placed in yet another tier, are often labeled as “Non-Qualified” and are charged an even higher transaction fee. This is just one example and how the transactions are actually categorized can change, even with the same merchant processing provider, making it rather difficult to understand exactly how your transaction fees are calculated.

 


Understanding Contract Terminations Points

What are they? What should I know?

 

Before you sign a contract with a merchant service provider, it is critical to understand what rates or penalties are associated with canceling the account, at any point. Cancellation fees are not set by an industry standard, instead, every merchant processing provider sets their own cancellation fees and requirements. Keep in mind that cancellation fees can run from $200 to a few thousand dollars, depending on the contract details.

 

Liquidated damages can also apply if you cancel your contract prematurely. This additional penalty is related to how much the merchant service provider stands to lose by you ending your contract early. For example, if you signed a three-year contract and end two years early, you will likely be charged for two years worth of transaction fees – representing the revenue the provider would have made, had you complete the three-year term. Reading the fine print is key because some merchant providers may charge a flat cancellation fee on top of liquidated damages.

 


Avoid Hidden Fees with Blue Yonder

 

The key to really tapping into the benefits that credit card processing can provide all rest with which merchant you choose to handle your credit card processing needs. Not doing the proper due diligence and reading all of the terms and conditions could mean the difference between you keeping your money, or paying large amounts each month in transaction fees. That’s why at Blue Yonder, our proven model ensures that you keep more money in your business, while still providing the credit card payment options your customers have come to expect. With our industry-changing approach, we eliminate the confusion and ballooning processing fees and only charge you a flat $65 per month, regardless of the number or the size of your credit card transactions. And, with absolutely no hidden fees, at Blue Yonder, you truly pay ZERO when you register with us and have the added flexibility to cancel at any time.


If you’re ready for a hassle-free credit card processing experience, then give us a call today at 800-270-9285 to learn more and get started.

Top 3 Things You Need to Know About What Payment Processing Really Costs You.

Plus – Find out how to completely avoid them!

 

Payment processing companies are a dime a dozen. But, navigating the transaction fees can be a daunting and challenging endeavor. When it comes to choosing a reputable credit card processor, understanding the small print is key. So, before you take the plunge, with any credit card processing company, it is important to consider these three important factors.

1. Watch out for ballooning processing fees

When it comes to credit card processing, one rule of thumb rings true: the more credit card transactions you process, the more money they make on their end. Many credit card processors charge a percentage depending on the volume of sales you make in a given month. On average, you can expect to pay 1.7% of your gross credit card sales, but this figure can go up to 3.5% or more. Generally, the more credit card transactions you do, the lower your transaction fee. But, buyer beware, a smaller percentage of a large number may sound good on the surface, but it could still account for thousands in credit card processing fees.

It is important to note that other factors can also play a part in how much you are charged for each transaction. In some cases, you may be charged a flat percentage, regardless of the volume of sales you do each month, but then have to also pay a per transaction fee on top of that. When choosing a credit card processor, you must do your due diligence and understand how their processing fees are structured, how they may fluctuate and estimate what this could mean for your bottom line.


2. Hidden fees could be everywhere you turn

Processing fees are only one small part of the cost equation for your business. When you use a credit card processing company, you want to always read the fine print and calculate all of the small incidental fees you may be charged per month. Here are three often overlooked fees that you should consider when deciding on which credit card processor to go with.

Application Fee. Credit card transactions have to be handled with care as to not expose your customer’s most sensitive data. Many credit card processors will charge an application fee that covers their review of your initial application and in determining if your business fits their customer profile. This could range from $100 to $500, depending on the size of your business and/or the level of risk involved with processing your credit card transactions.

Set-Up Fee. Some merchant account providers will charge you an initial setup fee, that often covers the cost of the credit card terminal that you’ll use to process payments. There may also be an ongoing monthly fee that then covers certain features or services such as technical support, security firewalls, and PCI compliance.

Early Termination Fee. Watch out for restrictive contract agreements. To lock in a competitive transaction rate, you may have to sign a one- or two-year contract. If you decide to leave, you may be stuck paying a hefty early termination fee. Credit card processors do this to prevent you from going from merchant provider to merchant provider, getting an even better rate with each switch. Be sure to ask before you commit to any one credit card processor and determine what fees, if any, will apply should you want to end your contract. Always ask for specific contract details and a written copy of your contract for you to review, before locking in any promotional rates. Whenever possible, opting for a no-commitment arrangement is best to prevent having to pay unnecessary fees, if and when you want to change providers.


3. Not all credit cards are made equal

Whether your customer is paying with a Visa, a MasterCard, or American Express, it will impact the size of the transaction fee you pay. With major credit card brands, they set the rules for how their cards can be used and how payments can be accepted. Since they run the networks that these payments will pass through, they can also establish how much each transaction costs. For your credit card processor, if they want to work with these major networks, they have to follow their rules and pay their fees – no questions asked.

It is important to note that the guidelines put in place by these major credit card companies are just that…guidelines. They aren’t hard and fast laws, but if your credit card processor is not abiding by them, they could be opening themselves up to costly liability and fines. Depending on the card types you accept, your credit card processor may have to be adhering to a host of different rules and fees.

Different credit cards have different interchange and assessment fees which could impact how much you pay. Many businesses do not accept Discover or American Express for this very reason, as the rates associated with these cards can be quite expensive.


Bonus Tip: How you process credit card payments is important

When it comes to credit card transactions, they are not all made equal. There are many ways to process credit card payments, whether it be over the phone transactions, an in-person swipe payment, or a recurring credit card transaction. Either way, how you accept credit card payments can play a part in how you are charged for those transactions. When it comes to navigating the cost for various payment methods, it is important to consider the level of risk associated with each.

For example, if your credit card information has been compromised and exposed to hackers, it is much easier for them to process a payment using your card number if it is done over the phone or solely online. There are very few verification processes in place for these types of transactions. However, if a customer makes an in-person purchase, they will have to have the physical card present to swipe at the terminal and they could provide identification to verify that they are the cardholder. Credit card processing companies have to navigate this risk and often do so by including additional surcharges for e-commerce and over-the-phone credit card transactions. So, if the bulk of your credit card transactions are from either of these two sources, then be sure to double check what fees may apply.


Is there a solution to completely avoiding these fees?

 

Completely avoiding all credit card transaction fees can seem impossible. However, businesses across the country are turning BlueYonder’s innovative processing model to save big on their credit card transactions. The card processing rules have changed, and you are no longer required, state or federally, to pay these fees.

With BlueYonder’s patented and legally compliant program, instead of paying transaction fees that can balloon out of control, BlueYonder only charges a flat fee of $65 per month for unlimited processing. Whether you have $10,000 a month in processing or $1,000,000 a month in card processing, you pay only $65 per month.

There are no start-up fees, no long-term contracts, no transaction fees, no cancellation fees, and best of all, no hidden fees. And, to get you started, they provide you with their patented plug and play terminal, shipped directly to you, at no cost, compatible with any POS system. Available for VISA, MASTERCARD, AMEX, DISCOVER, APPLE PAY and ANDROID PAY.


To see how much Blue Yonder can save your company,

you can contact them at 800-270- 9285.
Or visit them online www.BlueYonderCorp.com