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Gain, retain merchants with

free rate-tracking app

Niec additionally noted that Rate Tracker solves a problem
that arose from lack of regulation and sheer greed. It's
exciting to see the response so far, and at our current growth
rate, we're on track to have a million end-user merchants by
the end of 2021, he stated.

Accountability builds trust
Rate Tracker stops the race to the bottom that has been
prevalent in the processing industry, Niec stated. "Instead
ate Tracker, a company dedicated to educat- of asking to see a merchant statement or offering to help a
ing and empowering small and midsize busi- merchant save money on fees, MLSs can give a merchant
ness owners, launched Rate Tracker, a solution something that is free and valuable," he said. "It only takes
R designed to add clarity and transparency to the merchant a minute to download the app or go to the
credit card processing. The AI-based solution, powered Rate Tracker website to verify a six-digit code and create a
by Plaid, enables merchants to automatically keep track of login portal."
their effective interchange rates; participating merchants
are notified immediately when rate and fee increases occur, Rate Tracker MLSs, ISOs and referral partners can view
according to Adam Niec, founder and CEO of Rate Tracker. active users on their dashboards, where they can track each
merchant's monthly effective rates and processing volumes,
Frustrated by rate hikes and hidden fees, Niec assembled Niec stated. This enables agents to contact prospects when
a team of software developers and engineers to design they see something out of the ordinary, such as a sudden
Rate Tracker. "We provide merchants with educational rate increase, he noted, adding that when agents sign
and business resources along with the ability to new merchants, Rate Tracker holds them accountable by
automatically track their monthly credit card fees," he said. monitoring merchants' transactions and notifying users of
Niec summarized Rate Tracker's guiding principles as changes.
accountability, transparency and empowerment. He added
that the company was first to market with the AI-powered Niec acknowledged that business owners don't always
rate tracking system, and the product is widely available to have time to monitor credit card statements. He recalled
subscribers following a successful beta test, he stated. an industry colleague whose business was impacted by
COVID-19. While his processing volumes had substantially
Transparency pays decreased, he continued to pay the same amount in
processing fees.
Rate Tracker helps ISOs and merchant level salespeople
(MLSs) generate more leads and qualify their prospects, "He had been priced very well for a while until the
Niec noted. Users have reported that the tool has helped processor increased his rate by nearly $3,000 a month," Niec
them increase closing ratios and maintain higher margins. said. "I gave him pricing for life and an app that holds me
Early adopters have also claimed that Rate Tracker is accountable."
helping them accelerate sales cycles and generate more
referral partners. Join our movement

"Rate Tracker is relatively new, but we expect to it help Niec expressed hope that others will join Rate Tracker's
partners improve customer longevity and maintain nationwide movement aimed at fostering education,
relationships, even after deals are lost, as merchants transparency and accountability among processors and
continue to use the tool to track their effective rates," Niec merchants. "Supporting the good companies will naturally
said. The company looks forward to more feedback from drive out the bad ones," Niec said. "I envision a day where
merchants, MLSs and ISOs who share how the solution agents and ISOs can walk into an appointment and the
improves transparency and integrity in payments. merchant knows they are 'Rate Tracker Certified.' This will
help them close more deals and earn more relationships."
Company: Rate Tracker Rate Tracker and payments industry stakeholders can help
Product: Rate Tracker reform an industry that is crucial to business owners and
Website: www.ratetracker.io consumers and ensure that business owners are treated
fairly, Niec added.
Contact: hello@ratetracker.io

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