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.

Kind 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
• Retail Tech Show and an Accelerator Event
• BBMS and The Prince's Trust
• Retail Case Study Super Pack
• Valuable New Partnerships
• New Team Members and Looking Ahead

Latest Updates

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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 being:

• 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 specialised 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 Enrolment: 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: Retail Tech Show 2024 and Our London Accelerator Event

Retail Tech Show 2024

This year, BB Merchant Services had the privilege of attending the Retail Tech Show 2024, one of the premier events in the retail technology industry.

Held annually, this event brings together industry leaders, innovators, and professionals to showcase the latest advancements in retail technology and discuss emerging trends.

The benefits of being part of the Retail Tech Show:

• Networking Opportunities: The Retail Tech Show 2024 provided an invaluable platform for networking. Our team of experts connected with other key players in the retail industry, explored potential partnerships and shared insights on how our services can benefit retail businesses.
• Learning and Innovation: Attending various presentations and panel discussions, our team of experts gained a deeper understanding of the latest technological advancements and how they can potentially be leveraged to enhance our offerings.
• Future Engagement: We are thrilled to announce that for the 2025 Retail Tech Show, BB Merchant Services has already secured a public space and stand. This will allow us to showcase our innovative solutions, interact directly with attendees, and further strengthen our presence in the retail technology space. Come along and meet the BB Merchant Services team at the event next year!

London Accelerator Event: Sharing Customer Success Stories

To share our many success stories and celebrate our team's hard work and dedication, we organised a memorable business accelerator event in London.

This gathering was a chance to share how we have been successful for our customers, reflect on our achievements, and bond as a team in a relaxed and enjoyable setting.

Highlights of the London Offsite:

• Sharing customer success stories: Our event kicked off with a series of powerful best practice sharing and examples of where we have helped businesses all over the UK and Ireland ‘stay and save’ or ‘switch and save’ when it comes to cutting payment processing costs.
• Rooftop Drinks: Following dinner, we headed to the rooftop bar at the CitizenM Tower of London Hotel. With stunning views of the city skyline, we enjoyed refreshing drinks and the vibrant atmosphere. Celebrating success is an important part of our culture.
• London Nightlife: For those looking to continue the celebration, some team members ventured out to experience the bustling nightlife of London. It was a night filled with fun, laughter, and memorable moments.

This offsite event not only allowed us to celebrate our successes but also strengthened our team spirit. It was a great way to share best practices with our industry experts and a fantastic way to recharge as we continue to strive for excellence in our services.

These events underscored the dynamic and collaborative culture at BB Merchant Services, and we look forward to more opportunities to connect, celebrate, and grow together.

Join Us in Supporting The Prince’s Trust with the Worldpay 250 Million Makers Walk!

We are thrilled to announce our involvement in the "Walk for the Future" initiative, supporting The Prince’s Trust from September 1st to October 1st, 2024. Partnering with Worldpay 250, we’re gearing up for this exciting event that combines fitness, community spirit, and a fantastic cause.

How to Participate:

1. Choose Your Team: Gather your friends, family, or colleagues. Teams can be any size, so get as many people involved as you can!
2. Choose Your Distance and Date: Whether you prefer a leisurely stroll or a challenging hike, select a distance that suits your team’s abilities.
3. Choose Your Route: Walk in your local park, along a scenic trail, or even around your neighbourhood. The choice is yours!

Fundraise and Share:

• Raise Funds: Encourage your team to raise funds for The Prince’s Trust. Every contribution helps support young people in building a brighter future.
• Leaderboard: Track your fundraising progress and see how you rank on our event leaderboard. Aim for the top spot!
• Capture and Share Your Moments: Take photos during your walk and submit them to our event page. Share the fun and inspiration with the whole community.

Grab your team merch and join Team Worldpay250! Let's make a difference while enjoying a healthy, fun-filled activity. Together, we can support The Prince’s Trust and empower young people for a better tomorrow. Join us, gather your team, choose your distance, and walk for a cause!

Finally, in the next newsletter, we will share that BBMS is the headline sponsor for the 'I am a 2024 Million Maker' event at the ICC in Birmingham later this year.

We are proud 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 the rest of the World.

Contact Siobhan to sign up for the walk: [email protected]

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 optimise 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 realised substantial reductions in payment processing fees, collectively saving over ￡500 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 prioritise 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 optimise 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 "Optimising 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 optimise 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 optimising 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

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 revolutionise your payment processing.

Kasssh: Another exciting collaboration on the horizon is with Kasssh, a cutting-edge fintech company specialising 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!

Ashley Bignall

Corporate Sales Director, BB Merchant Services

We are delighted to welcome Ashley Bignall as our new Corporate Sales Director. Ashley brings a wealth of experience to the team, having spent the past five years in similar roles at WorldPay. His extensive background in the card payment industry, coupled with his proven track record in sales and financial services, makes him a valuable addition to our team.

Ashley is known for his hardworking and outgoing nature, consistently going above and beyond to achieve success. His ambitious and driven attitude has seen him excel within the industry, building a robust client base and delivering exceptional results. Ashley’s dedication to growth and self-improvement aligns perfectly with BBMS’s mission to provide top-tier services to our clients.

In his new role, Ashley will leverage his expertise to drive our corporate sales strategy, taking on new challenges and helping those around him to grow and succeed. His commitment to excellence and passion for the industry will undoubtedly contribute to the continued success and innovation at BB Merchant Services. We are excited to see the positive impact Ashley will bring to our team and clients.

Becky May

Distribution Partner, BB Merchant Services

We are thrilled to welcome Becky May as our new Business Development Manager. Becky brings with her an impressive 18-year career in the financial services industry, having spent seven years at Barclays and eleven years at Barclaycard. During this time, she honed her expertise in customer service, financial management, and strategic growth, making her an invaluable addition to our team.

After taking a voluntary redundancy, Becky embraced a new path as a self-employed professional, focusing on helping people save money on their household services. Her role as an Authorised UW (Utility Warehouse) Partner allowed her to combine her passion for financial efficiency with her desire to have a positive impact on people's lives. Becky's experience in mentoring and onboarding new partners further showcases her ability to lead and inspire teams, a quality that will greatly benefit BBMS.

In her new role, Becky will leverage her extensive background and driven mindset to develop new business opportunities and strengthen our client relationships. Her commitment to excellence and innovative approach aligns perfectly with our goals at BB Merchant Services. We are confident that Becky’s dedication to helping others and her strategic vision will play a pivotal role in our continued success and growth.

Tudor Humphreys

Associate Partner, BB Merchant Services

We are excited to welcome Tudor Humphreys as a new Associate Partner. Tudor brings 40 years of experience in the charity sector, forging partnerships with the NHS, local authorities, social care, and various community sectors. He has led and developed three local charities, served as an Employee Representative and Transition Manager, and supported significant organisational changes.

Tudor is passionate about workforce development, leading group coaching and action learning sets for NHS and Macmillan Cancer Information Centre managers. He has provided one-on-one coaching for key leaders in strategic health and social care partnerships across the UK.

Tudor holds an HND in Business, a BA in Informal and Community Education, a Postgraduate Certificate in Supervision, and ILM Certificates in Action Learning Set Facilitation and Coaching and Mentoring (Level 5). He has participated in two King's Fund Leadership Development Programmes and is a member of the Association for Coaching, adhering to a recognised global code of ethics.

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 Retail Tech Show: Building on the invaluable insights and networking from the 2024 Retail Tech Show, we're gearing up for an even larger presence in 2025. With a dedicated stall, we'll showcase our innovative solutions and engage with industry leaders and potential partners.
• 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

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