How Payment Processing Fees Are Hurting Your Profits (Replay)

Are you overpaying on your credit card processing fees?

Most dental providers have no idea how much they're overpaying on their processing fees, losing them, literally, thousands of dollars of their bottom line each year.

In this episode of Beyond Bitewings, Ash welcomes Jeremy Lessaris, founder and CEO of Payment Brokers, a fintech company specializing in AI-enabled cost reductions within the payment processing industry. With a background as a seasoned entrepreneur who has successfully built and exited eight companies across diverse sectors like tech, SaaS, payments, and healthcare, Jeremy brings a wealth of expertise to the table.

Jeremy offers some history of the payment processing industry, revealing some pricing tactics that can burden small to medium-sized enterprises, including dental practices. He also shares his journey from being affected by high credit card processing fees to creating a solution that helps businesses avoid these pitfalls. Through Payment Brokers, Jeremy utilizes advanced machine learning tools to analyze merchant statements and negotiate better rates on behalf of clients, ensuring significant savings without requiring businesses to switch their providers or disrupt their operations.

They also touch upon Jeremy's entrepreneurial journey, the importance of sound advisory, and how addressing small operational costs can lead to massive impacts on business valuation, especially for those planning an exit strategy.

To find out more or connect with Jeremy, visit: PaymentBrokers.com


YouTube Chapter Summary:
00:00 Start
03:30 Early E-Commerce Struggles
07:13 Founding Payment Brokers: Success Mode
12:32 Credit Card Processing Competition
13:51 Collections Analysis for Dental Practices
18:05 Calculate Net Effective Rate
23:04 Strategizing for Higher Exit Valuations
23:42 Exit Strategies with Recurring Revenue
27:41 The Power of Small Details
32:57 Uncertainties of Roll-Up Acquisitions
36:17 Hidden Business Costs: Evaluate Wisely
37:41 Credit Card Fee Check Tip