AVB Brings Credit Card Processing In-House

CMO John White introduces the new payment processing service during the Summit General Session at Summit 2024.

Trusted Transact can save members thousands

By Alan Wolf, YSN

In its ongoing efforts to relieve member pain points, AVB is launching an in-house credit card processing program, Trusted Transact, that could save dealers hundreds or even thousands of dollars a month in fees.

As Chief Marketing Officer John White explained in his Main Stage Summit address on Monday, credit card processing is the bane of many members due to the high costs and multiple fees and middlemen associated with every transaction. Indeed, contractual terms for some payment processors can be murky and allow for frequent rate hikes, while independent dealers are often disadvantaged by fee structures based on transaction volume — meaning merchants with a few dozen transactions a day pay a higher rate than national chains with millions of transactions.

Instead, White said, Trusted Transact offers pre-negotiated rates and removes the middleman by employing a single merchant service provider for all transaction platforms, including HUB, Alta e-commerce sites and in-store terminals.

By passing the savings on to BrandSource members, an estimated 75-80% of dealers would likely enjoy significantly lower fees through the service’s cost-plus model, White said, and invited interested members to submit their current processing statements for analysis.

YSN publisher AVB BrandSource is the nation’s largest merchandising and marketing co-op for independent appliance, mattress, furniture and CE dealers.

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