Accepting payments is key for any veterinary practices to stay in business. However, veterinary merchant processing and veterinary credit card processing fees have long been a burden. Traditional options charge exorbitant rates that can cost practices thousands each month. Fortunately, new solutions like Blue Yonder aim to change that by offering more affordable options.
The Problem with High Credit Card Processing Fees
In the past, veterinary practices had little choice but to accept the terms from their credit card processors. They paid high percentages on every credit card transaction and other hidden fees. For a typical practice processing $2,000 or more per month in credit cards, this could amount to over $24,000 in veterinary credit card processing costs in a year.
Over the course of a year, veterinary practices were funneling tens of thousands of dollars directly to their processors. With contracts that made it difficult to change providers, practices felt stuck with no way to lower exorbitant rates. This put undue financial strain on operations and cut into profit margins. Something needed to change to make veterinary merchant processing more reasonable.
Reducing Veterinary Practices merchant processing costs
There are some options clinics can explore to cut down on their monthly credit card fees:
- Negotiate lower rates – Clinics with higher volumes have more leverage to ask for discounted rates from their processor.
- Find a specialized vet merchant account – Providers catering specifically to veterinary clinics often offer flat rate plans for less than traditional processors.
- Switch to debit/ACH processing – While not all clients will choose this option, processing debit transactions has lower fees than credit cards.
- Use apps for curbside payments – Taking mobile card payments curbside avoids higher “card not present” rates charged on invoices.
With the right provider, clinics may be able to save thousands in Veterinary credit card processing costs annually while still accepting all clients’ preferred payment methods. Comparing options is worthwhile.
Affordable Options from Blue Yonder
Thankfully, Blue Yonder now offers veterinary practices simpler alternatives. Both provide flat-rate veterinary credit card processing solutions that save thousands compared to traditional variable percentage models.
Blue Yonder charges a flat $65 monthly for unlimited card processing, regardless of processing volume. It can now keep more revenue instead of paying processors exorbitant monthly percentages. The lower rates alleviate a major budget strain for veterinary operations.
Features that Streamline Accepting Payments
In addition to significantly lower rates, Blue Yonder provides features that make accepting payments simple and convenient. It offers an online payment portal accessible from any device, where payments can be made online or via emailed invoices.
On the other hand, Wii-enabled credit card terminals allow practices to conduct card transactions from exam rooms or curbside for lower rates. Text-to-pay and chat-to-pay also let clients easily send payment links to clients.
These payment solutions streamline the process versus traditional terminals and integrate with practice management software. Payments sync automatically without manual data entry, saving time.
Real Savings Calculation
One practice that switched to Blue Yonder from another processor is affordable pricing. Let’s do a calculation. Suppose your business transduction over the year is $10,00,000. Veterinary credit card processing generally requires 2-3% of the amount. Let’s say 2% of the processor charges, which can go to $240000 in its first year. By paying a flat $65 monthly versus 2% of their $10,00,000 in annual card volume, total processing costs dropped from over $20,000 monthly to only $780 per year.
The story shows the real financial benefits veterinary practices experience when they switch to affordable payment solutions like Blue Yonder.
Getting Started is Simple
Signing up with Blue Yonder requires no long contracts, hardware costs, or setup fees. Practices can test out either service immediately with no risk or commitment. Both have simple online sign-up processes to create an account and begin accepting lower-cost payments right away.
Most practices that try the flat-rate veterinary credit card processing models promptly cancel their previous providers once they see the savings difference. Client payments have also become more convenient through online portals and mobile-friendly options.
Cut Costs, Boost Profits with Blue Yonder
If your veterinary practice has been paying exorbitant monthly credit card fees, it’s time to learn about more affordable veterinary merchant processing options. Speaking to a Blue Yonder representative can show how moving to their flat-rate models will save you thousands yearly. You’ll protect more of your practice revenue rather than paying unnecessary percentages to other processors. To get started with improved payment solutions, contact Blue Yonder at 800-270-9285 today.