March 31, 2011
FeeFighters launches in Canada, targets retailers with comparisons rates of top-tier processors
TORONTO--FeeFighters, a free online comparison shopping engine that offers businesses a head-to-head comparison of credit card processors and their fees, has expanded into Canada. The free comparison site at www.feefighters.ca helps merchants compare rates, contract terms and other costs to find the best deals on credit card processing fees.
The debate over contracts and fees has reached a high pitch in Canada, where merchants sometimes struggle to make sense of their choices while also trying to run their business.
Last year the situation prompted the Government of Canada to implement a code of conduct in an effort to ensure merchants are fully informed of the real costs associated with accepting credit card payments," said FeeFighters in a release. "But, the code is voluntary--processors are not yet bound by its statue. Meanwhile, fee structures remain unclear and unstandardized, still making it difficult for merchants to compare the rates and terms of one company against another."
"It's incredibly confusing, especially for small business owners who are trying to focus on actually running their business," says FeeFighters CEO and Co-Founder Sean Harper. "They often feel powerless and taken advantage of, and most simply don't have the time to pour over the minute details of lengthy contracts filled with financial jargon. They need a simple solution to compare the options and that's what FeeFighters provides."
FeeFighters claims to bring transparency to the pricing structure of processing fees and maintains merchant-friendly rules for its processor marketplace. All processors featured on the site have been vetted and must adhere to strict rules and transparent pricing, which ensures business owners won't get ripped off or hit with hidden costs.
Merchants can find the lowest rates from credit card processors that best match their needs. To get a straight-up, no-hidden-costs comparison, merchants simply log on to FeeFighters.ca and answer a few questions about their business. The site instantly delivers a range of competitive bids from top-quality providers that have passed through FeeFighters' rigorous vetting process. Pricing is shown in an easy-to-compare, apples-to-apples chart format, and merchants can even read customer reviews and Better Business Bureau ratings for each provider.
New retailers can use FeeFighters to find the best processor from the start, and existing businesses can check up on their current provider to make sure they're getting the best deal and consider whether it's time to switch to a new provider.
"The overwhelming majority of the time we can get the merchant a better deal, saving our customers an average of 40 percent on their credit card processing costs," Harper said. "That's a significant savings for any size business and an incredible opportunity for small business owners."