Securing the Lowest Possible Interchange Rates from the Card Brands
Scroll To Learn More
Dilemma
Transactions failed to qualify for the lowest rate from major card brands with no alerts from their current processor. Vague pricing resulted in properties not understanding charges.
Objectives
1. Ensure card transactions qualify for the lowest possible processing rate.
2. Deliver easy-to-understand pricing for credit card processing.
Solution
1. Wind River identified and corrected the root cause of the failure to qualify for lowest rates.
2. Simplified payment processing rates were rolled out to all properties.
3. Steps to enhance data security were enabled.
4. IDM received its own relationship manager from Wind River.
Results
1. All credit card transactions now qualify for the lowest card brand rates.
2. All properties understand their credit card processing rates.
3. Data protection has been enhanced.
4. IDM can call its relationship manager any time.
Background
IDM Hospitality Management develops and manages independent, boutique hotels that enrich communities. As a trusted partner to hoteliers since 1999, IDM helps stakeholders bring their vision to life by providing key services such as hotel operations, sales and marketing, centralized accounting services, and leadership training.
Objectives
IDM discovered that many transactions failed to qualify for the lowest rate from the major card brands. Unfortunately, not a single alert came from IDM’s current payment processing partner. Furthermore, vague pricing resulted in its properties not fully understanding what they were paying and why. Staying true to its mission to ensure its clients maximize their profitability, IDM knew it was time to change providers.
Wind River’s nimble problem-solving approach, After the Handshake service commitment, and transparent pricing perfectly aligned with IDM’s philosophy. Once on board with IDM’s properties across four Midwestern states, Wind River rolled up the sleeves to identify the most cost effective and secure way to process payments.
- Ensure card transactions qualify for the lowest possible processing rate
- Deliver easy-to-understand pricing for credit card processing
Strategy
- Wind River identified and corrected the root cause of the failure to qualify for lowest rates.
- Simplified payment processing rates were rolled out to all properties
- Steps to enhance data security were enabled
- IDM received its own relationship manager from Wind River
Customer Testimonial
“Our properties are boutique and deliver authentic and distinctive experiences that are personalized to their customers. We wanted the same customer focus and white glove service from our new payment processor, so we selected Wind River.”
Wind River Wrap-Up
If you are experiencing similar challenges with your environment, contact us today. We would love the opportunity to create a success story for you too.