The BIG Question every CFO asks before signing up with MIPS, “How much is it going to cost?”.
And the answer is 3-fold: nothing, never and as little as possible.
- We charge you nothing for setup.
- We will never charge you monthly or recurring fees.
- We’ve developed technology so in regards to transaction costs, you as the merchant, pay as little as possible.
We can mitigate transaction costs through a clever little piece of tech (AI), that before payment is made, detects where payment is being issued from. Using your pre-set parameters it will then route payment to the destination account of your choosing.
We call this DYNAMIC ROUTING.
Here’s a classic example of how it saves you money:
As a merchant you receive better transaction rates if the card holders bank (Issuing bank) is the same as your bank (Acquiring bank).
If you have multiple bank accounts, our AI can detect the bank from which payment is being issued and ensure payment is routed to the acquiring bank who carries the lowest transaction cost.
- Card holder banking with BANK A, has payments routed to your account with BANK A.
- Card holder banking with BANK B, has payments routed to your account with BANK B.
- Card holder banking with BANK C, has payments routed to your account with BANK A.