At some point, most companies will issue a Merchant Services RFI (Request for Information) or a RFP (Request for Proposal) to find the right payment solutions provider. Companies typically go through RFI/RFP process because they are looking for better pricing, a better service provider, or simply trying to gauge changes in the marketplace since the last time they negotiated their payments contract. Many treasury professionals find the RFP process to be time consuming and find deciphering the nuances in the payments landscape to be very complex. Merchant acquirers or payment processors use different names and acronyms when presenting pricing, product features and capabilities, Service Level Agreements, and reporting capabilities. Unlike buying insurance where multiple providers can be easily compared, buying payment processing services is extremely difficult.
Optimized Payments Consulting helps clients simplify their RFI/RFP process by leveraging its experience in the payments industry and its large database of previously negotiated agreements. We help clients align their point-of-sale, technology integration, service, reporting, and financial needs with an optimal acquiring partner. Moreover, we help our clients negotiate very competitive pricing and service level agreements. Our Fortune 1000 clients tell us that we helped them achieve better results than they could have achieved on their own. In fact, the payback period for our consulting fees is typically 1-2 months.
We work with clients to manage all or part of the RFI/RFP process, based on their needs. Contact us to see how we can help you!