Summer Edition - 2024

Welcome to the Summer Edition!

Greetings from BB Merchant Services!

We hope you are enjoying the sunny days, warm weather, and the excitement of the Olympics! Just like the athletes striving for gold, we’re pushing boundaries to bring you gold-standard payment processing support for the best payment processing fees possible.

As the summer season reaches its peak, we are thrilled to bring you a jam-packed edition of our newsletter, filled with the latest updates, insights, and exciting events.

Also, we are proud to share that BB Merchant Services is the headline sponsor for the 'I am a 2024 Million Maker' event at the ICC in Birmingham later this year. We are delighted to be the main sponsor of the Worldpay and The Prince's Trust event, reflecting our support and involvement as a leading business in the UK and worldwide.

We appreciate your continued support and interest as we deliver ongoing success and reduce payment processing fees for our customers.

Best regards,

The BB Merchant Services Team.

Key Highlights!

As we reflect on a busy time of the year, we're excited to share some key highlights and achievements. This month, our newsletter features six main sections:

• Latest Updates and a US Interchange Opportunity
• American Roadshow and Gratitude Invitational
• US Service Guarantee
• Retail Case Study Super Pack
• Valuable New Partnerships
• New Team Members and Looking Ahead

Latest Updates

Our New Website!

We're thrilled to announce the launch of our new website! We showcase how firms can ‘stay and save’ or 'switch and save’ when it comes to cutting payment processing costs.

Our goal was to create a user-friendly and informative online presence that better serves your needs and enhances your experience with BB Merchant Services. Also, the updated website showcases the change in our brand from Bankbrokers to BB Merchant Services.

As part of our rebrand from BankBrokers to BB Merchant Services, we felt it was essential to further enhance our website, tailoring it specifically to showcase our comprehensive range of services. These include:

• Benchmarking and Renegotiation
• Payment Processing Advisory

This update was driven by our commitment to better serve our clients and provide a more focused, user-friendly experience.

We aimed to create a platform that not only reflects our new identity but also highlights our specialized offerings in a clear and accessible manner. By refining our online presence, we hope to make it easier for you to navigate our services, access valuable resources, and stay updated with the latest industry insights.

Click here to check it out!

Benefit from a US Interchange Class Action

Are you a merchant with a US-based legal entity that processed card payments between 2004 and 2019? If so, you might be eligible to join the US's largest class action lawsuit against Visa and Mastercard concerning interchange fees, also known as the Payment Card Interchange Fee Settlement.

Many merchants have already signed up. Check if you are eligible, and do not miss out.

What is the US Interchange Class Action?

The US Interchange refers to the fees charged by card networks, such as Visa and Mastercard, to merchants for processing card transactions.

These fees are set by the card networks and are intended to cover the costs associated with card payment processing, fraud prevention, and other related services.

However, these fees can significantly impact merchants' overall costs, which has led to ongoing scrutiny and legal actions.

Don't Miss Out

Recently, there has been a significant development regarding the US Interchange overcharging class action lawsuit against Visa and Mastercard.

This lawsuit, known as the Payment Card Interchange Fee Settlement, addresses claims that these card networks overcharged merchants for interchange fees over an extended period.

Key Points:

• Eligibility: Merchants with a US-based legal entity who have processed card payments between 2004 and 2019 are eligible to join the lawsuit.
• Deadline Extension: The deadline to join this class action lawsuit has been extended to August 30th. This extension provides a crucial opportunity for eligible merchants who have not yet filed a claim.
• Risk-Free Enrollment: The class action settlement filing service is structured on a contingent fee basis, meaning there are no upfront costs. All case management costs are covered by a deduction of 25% from the eventual payout, allowing merchants to receive 75% of the proceeds.
• Assistance Available: No-cost assistance is available from the Class Administrator and Class Counsel during the claims-filing period. Merchants do not need to sign up with any third-party service to participate in the monetary relief.

This deadline extension is a valuable opportunity for eligible merchants to seek compensation for any overcharged interchange fees. If you are a merchant with a US-based legal entity and have processed card payments during the specified period, now is the time to take action.

For more details and to file a claim, you can contact Scott Conti at BB Merchant Services or visit the provided online registration link.

Don’t miss out on this chance to reclaim potential overpayments and benefit from the settlement.

Contact Information:

• Email: [email protected]
• LinkedIn: Scott Conti
• Online Registration: Settlement Registration

For additional information regarding the status of the settlement, visit the Court-approved website at www.paymentcardsettlement.com.

Exciting Events: American Roadshow and Gratitude Invitational Event

BB Merchant Services American Roadshow

Our BBMS team recently embarked on an exciting two-week roadshow across the United States, meeting with merchants, prospects, and partners in various key cities.

Here's a detailed account of their journey and the impactful engagements they had along the way!

New York City (April 29 - May 3)

They kicked off the tour in the bustling heart of Times Square, New York City. During the first week, they connected with existing clients, potential new merchants, and our existing payment partners.

The team included Group CEO Neil Fillbrook FCII, US CEO Scott Conti, and Global COO Caspar Hjelmeland, who engaged in face-to-face meetings, offering free consultancy on payments optimization and cost-saving strategies.

Clients had the opportunity to discuss their biggest payment-related challenges, including price, collateral, settlement terms, acceptance rates, fraud, and de-risking exposure to service disruptions.

Salt Lake City (May 6 - May 10)

Following their productive week in New York, the team moved to Salt Lake City. Here, they continued their mission to help merchants understand and optimize their payment processing fees.

They provided insights on how processing fees and contracts compared to other companies in the industry. The goal was to assist merchants in taking the right steps to lower their costs, often without needing to switch their current merchant services providers.

Key Insights from the Tour

Throughout their travels, they made an important discovery: many merchants had not yet taken advantage of the Visa/Mastercard Class Action Settlement, set to expire on August 30th, 2024. This settlement represents a significant opportunity for eligible merchants to receive a substantial financial settlement.

The American tour was a tremendous success, thanks to the enthusiastic participation and engagement from the merchants, prospects, and partners our team met.

We look forward to continuing these valuable events and helping more businesses optimize their payments and reduce costs.

Stay tuned for more events and opportunities to connect with our team!

If you're interested in learning more about any of these opportunities or scheduling a consultation, please reach out to us.

All-Star Entertainment and Gratitude Invitational

On the evening of May 8th, from 18:00, the BBMS team hosted a fun-filled event at All Star Entertainment. This family-friendly gathering welcomed the families of golfers attending the Gratitude Invitational. It was a night of bowling, games, and building connections.

The BBMS team enjoyed meeting so many wonderful people and creating memorable experiences for the families. The success of the event was evident in the laughter and smiles throughout the night.

Due to the positive response, we are excited to announce that we have already signed up to sponsor next year's event, promising even more fun and engagement.

The following day, the team attended the Gratitude Invitational golf tournament, continuing their support and engagement with the community. This event further solidified our commitment to fostering relationships and supporting meaningful causes.

US Service Guarantee

The US Service Guarantee aims to provide assurance and reliability to businesses looking to optimize their payment processing costs. Here's how it can benefit your organization:

What is the US Service Guarantee?

The US Service Guarantee is a commitment to deliver optimal payment processing solutions tailored to meet the unique needs of each business. This guarantee ensures that clients receive the following:

• Transparent Pricing: Clear and straightforward pricing without hidden fees.
• Expert Advice: Professional guidance from industry experts to navigate complex payment processing landscapes.
• Cost Savings: Strategies to significantly reduce processing costs, ensuring more money stays within your business.

Key Benefits of the US Service Guarantee

1. Customized Solutions: Each business is unique, and so are its payment processing needs. The US Service Guarantee provides tailored solutions that fit your specific requirements, ensuring efficiency and cost-effectiveness.
2. Comprehensive Review and Analysis: The guarantee includes a thorough review of your current payment processing contracts and agreements. This analysis helps identify hidden fees and opportunities to negotiate better terms.
3. Industry Benchmarking: By comparing your current payment processing costs against industry standards, the US Service Guarantee highlights areas where you might be overpaying, paving the way for potential savings.
4. Ongoing Support: Beyond initial optimization, the guarantee offers continuous support to ensure your payment processing remains efficient and cost-effective as your business grows.
5. Proven Success: Join over 3,000 successful client projects across various sectors, contributing to a total of $630 million in recurring savings.

To start saving on your payment processing costs, reach out to BB Merchant Services today. Their team is ready to help you negotiate the best terms for your business.

Don't wait to optimize your payment processing with the US Service Guarantee and see the difference it can make for your business.

Click here to learn more

Retail Case Study Super Pack

We are excited to introduce our comprehensive Retail Case Study Super Pack, showcasing how BB Merchant Services has helped 10 well-known retail brands significantly cut payment processing costs and optimize their financial operations.

This collection of case studies highlights the transformative impact of our services and the tangible benefits our clients have achieved. Many of our retail clients have chosen to ‘stay and save’ or ‘switch and save’ when it comes to cutting payment processing costs. This has resulted in recurring cost savings being unlocked.

Key Benefits for Retail Businesses:

• Cost Savings: Our clients have realized substantial reductions in payment processing fees, collectively saving over $630 million in recurring costs. This has been achieved without requiring disruptive changes to their existing setups.
• Ease of Process: We ensure a smooth transition to cost-saving measures. Most retail businesses find they can 'Stay and Save' with their current providers, simplifying the process while still reaping the benefits.
• Expert Guidance: Our industry experts leverage an exclusive database to deliver tailored cost benchmarks for merchant services. Our 'Switch and Save' service also matches businesses with the best new suppliers through fully managed RFPs and tenders, enhancing conversion rates.
• Trusted Partnership: We prioritize professionalism and integrity, building reliable partnerships that put our clients' interests first.

These success stories illustrate the significant impact of partnering with BB Merchant Services. By working with industry leaders, we have consistently demonstrated our ability to reduce payment processing costs and optimize financial operations.

To read the details behind each case study and to explore the full retail case study super pack, click here.

Our expertise can help retail businesses of all sizes achieve similar success and savings.

Click here to learn more

New Partnerships and Collaborations

At BB Merchant Services, we are committed to forging strategic partnerships that enhance our service offerings and provide additional value to our clients.

We are excited to share some recent and upcoming collaborations that promise to drive significant benefits for our customers.

BBMS and Key IVR

We recently collaborated with Key IVR to publish an insightful article titled "Optimizing Payment Processing: Strategic Solutions for Finance Teams."

This article explores the critical challenges businesses face in managing payment processes and highlights the innovative solutions Key IVR offers to overcome these hurdles.

With a focus on enhancing payment conversion, automating collections, reducing operational costs, and ensuring PCI compliance, the article provides valuable insights for financial leaders aiming to optimize their payment systems.

By partnering with Key IVR, we aim to provide our clients with advanced technology and secure payment processing services that meet evolving customer demands and regulatory requirements.

Highlights from the Article:

• Impressive Results: Key IVR has tripled clients' collections and increased transaction volumes by 200% through their secure, PCI DSS-compliant solutions.
• Holistic Approach: By optimizing payment processes, businesses can improve cash flow, reduce operational costs, and enhance overall financial performance.
• Customer-Centric Solutions: Key IVR's commitment to innovation ensures a superior shopping experience, helping businesses thrive in competitive markets.

Read the full article here

Upcoming Collaborations With BBMS Partners

Ordo: We are excited to announce our upcoming partnership with Ordo, a leading provider of secure and efficient payment solutions. Our joint article will delve into Ordo's innovative payment platform, which simplifies transactions, enhances security, and reduces costs for businesses. Stay tuned for detailed insights on how Ordo's solutions can revolutionize your payment processing.

Kasssh: Another exciting collaboration on the horizon is with Kasssh, a cutting-edge fintech company specializing in digital payment solutions. Our partnership aims to explore how Kasssh's technology can streamline payment operations, improve customer experiences, and drive growth. The forthcoming article will highlight the unique benefits and opportunities that Kaash brings to the table.

These partnerships reflect our ongoing commitment to delivering exceptional value and innovative solutions to our clients. By collaborating with industry leaders like Key IVR, Ordo, and Kaash, BB Merchant Services continues to enhance its offerings, ensuring that our clients stay ahead in the rapidly evolving payment landscape.

Stay tuned for our next newsletter, in which we will explore these in more detail!

Welcoming our New Joiners!

Dillon Hammond

Marketing Coordinator, BB Merchant Services

BB Merchant Services is excited to welcome Dillon Hammond as our new Marketing Director. Dillon is a results-driven and innovative marketing professional with over five years of experience in crafting and executing successful digital and social media strategies. His expertise in driving brand awareness, engagement, and conversions through creative content creation and data-driven insights makes him an invaluable addition to our team.

Dillon’s proven track record in strategic campaign management and his adeptness at staying up-to-date with industry trends ensure that BBMS will continue to optimize its online presence and achieve organizational objectives. His collaborative nature and excellent communication skills make him a great team player, while his passion for delivering impactful marketing solutions aligns perfectly with our goals.

Outside of his professional life, Dillon has a keen interest in ice hockey, football, especially fantasy football, biology, and space news. His favorite activity is meeting new people, which reflects his outgoing personality and enthusiasm. Dillon’s diverse interests and dynamic approach to marketing will undoubtedly contribute to the continued growth and success of BB Merchant Services. We are thrilled to have him on board and look forward to the positive impact he will bring.

Looking ahead

As we wrap up this Summer Edition of the BB Merchant Services Newsletter, we hope you have enjoyed reading about our latest updates and the exciting developments that are shaping our future.

As we look forward, we’re excited about the opportunities that lie ahead. Here are some key initiatives and plans that we’re thrilled to share:

• 2025 All-Star Entertainment & Gratitude Invitational: Building on the invaluable insights and networking from the 2024 All-Star Entertainment event and gratitude invitational, we're gearing up for an even larger presence in 2025.
• New Partnerships: We’re thrilled to announce partnerships with Ordo and Kasssh, bringing innovative payment solutions and cutting-edge technology to our clients. Look out for joint articles and insights on how these collaborations can benefit your business!
• Continued Innovation: At BB Merchant Services, we remain dedicated to continuous improvement and innovation. We’re committed to exploring new technologies, refining our services, and ensuring you always have access to the best solutions, keeping you ahead of industry trends.

Bringing it All Together

We appreciate your continued support and partnership as we navigate these exciting times. Together, we can achieve new heights and cut payment processing costs in the ever-evolving landscape of merchant services.

Thank you for reading our newsletter.

Enjoy the summer and the Olympic Games!

The BB Merchant Services Team