Dentist Saves $500 Per Month on Credit Card Processing with Payment Depot

At Payment Depot we believe wholesale credit card processing is the way of the future and we keep finding people who agree too. Below you’ll find two credit card processing statements. Both statements come from the same Orange County area Dentist, but one is from Payment Depot and the other is from Bank of America.

When this dentist became a Payment Depot member she started saving $500 a month on her credit card processing statement. No tricks or schemes, at Payment Depot we were able to lower her effective rate  from 2.7% to 1.7% (fees charged / amounts submitted)  by only charging her the wholesale cost. Instead of keeping this 1% as a part of our own profits, we give savings back to our members. 1% of her credit card sales doesn’t seem like much, but for this dentist saving that 1% saves her $6,000 a year.

Dentist’s Effective Rate with Payment Depot:

$845/$48,103 =  0.017

Move decimal two places to the right = 1.7

Effective Rate: 1.7%

Savings: $500 per month or $6,000 per year

Dentist’s Effective Rate with Bank of America:

$1,353/$49,414 = 0.027

Move deicmal two places to the right = 2.7

Effective Rate: 2.7%