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Hot Topics in the Transportation Industry

Posted by: In: Blog 16 Sep 2013 Comments: 0 Tags: , , , , , , , , , , , , ,

transportation industryCut Merchant Fees has taken a leading role as a merchant services provider in the transportation industry.  In fact, we are the preferred merchant services provider for organizations such as the NLA.  For this reason, we find it very important to stay plugged into the current issues and hot topics that our limo and town car merchants are concerned with.  We feel that it is important to get a clear diagnosis on what is affecting reservation-based business owners in order to stay ahead of our competition and provide the service that really delivers on a wide variety of levels.  With that being said, we would like to touch base on a few of the big concerns in the industry and how Cut Merchant Fees is well equipped to help tackle the biggest scares in the industry.

There are a few big changes occurring in the transportation space.  A large contributor to these changes is the introduction of mobile app reservation companies like Uber, Lyft, and Sidecar.  These companies have created a business model that has been quite successful since their inception, and have caused some turbulence in the limo/town car/transportation space.  For those of you who are unaware of these companies, they are mobile apps that provide a driver near your area at a low cost.  These companies employ drivers at minimal cost as long as they pass the background checks and have a reliable vehicle.

These companies operate at an extremely low cost in comparison to the traditional ride-reservation company with multiple cars in their fleets.  They don’t have the typical overhead cost associated with maintaining their fleet and managing multiple reservations and drivers.  The lack of high overhead costs have made it possible for them to bring their reservations down to a minimal and highly competitive rate.   So what can you do to compete with companies like this?

Cut Merchant Fees has a great way to keep your payments on track and your merchant fees as low as possible.  We have developed software integrations to platforms like FASTTRAK CLOUD, Limo Anywhere, RBS, and others, that pass important information at the point of sale that qualifies cards at the lowest possible interchange rates.  In other words, we can get you better pricing when it comes to Visa, MasterCard, Discover, and American Express fees.

Not only that, but these integrations store information like the ride, passenger, pick up/drop off, the amount of passengers, driver name, reservation number, etc. in order to help you fight chargebacks.  This method has been remarkably successful in aiding our merchants with the troubles that come along with chargebacks.  Our Chargeback Management Team is with you every step of the way when you need help most.  We will notify you immediately of the chargeback, help you file a rebuttal, and remind you before the expiration date comes to pass.  In the end, we fight to help you keep the money that you earned!

The NLA has trusted Cut Merchant Fees with their merchant account because they know that we really care about our merchants, regardless of the industry.  However, our tenure and involvement with reservation companies makes us a prime asset to the success of your business.

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