What Goes Into a Statement Analysis

When Processing Solutions Inc. works with your business we spend the time to create an analysis unmatched by others. Each proposal and analysis goes through

an intense industry scrub. We use our Forensic Statement Procedure and industry knowledge forming to the specific needs of our clients.

Below is an example:

Forensic Statement Analysis Procedures

  • Understand current method of payment card acceptance. Face to Face, Swipe, Key Entered, Internet. Furthermore hardware and devices used: terminal, point of sale, middleware, shopping cart, virtual terminal.
  • Review the 1,059 Business Standard Industry Classification Code (SIC) listings for corrected inclusion
  • Broad Over view of Statement in question.
  • Determine which payment processor.
  • Identify payment platform – First Data, Global, Tsys, Worldpay, Heartland, Paymentech
  • Type of rate program on. Cost-Plus, Tiered, Flat Rate, Enhanced Recovery Reduction, Hybrid
  • Type of discount method, Monthly or Daily. Identify costs
  • IRS Tax Identification Validation holding the Housing and Recovery Act of 2008 included Amendment 6050W , 28% withholding
  • Payment Card Industry (PCI) compliance and non-compliance
  • Settlement funding analysis
  • Search Databases for Terminated Merchant File, Past Fines, Class action Law Suits
  • Analysis of Visa Transactions Integrity, Visa Assessments, Visa Kilobyte
  • Analysis of MasterCard Acceptance and License, Assessments
  • Analysis of Discover Assessments
  • American Express Opt Blue or Service Establishment Number, Included in Franchise network
  • Brand Usage (NABU) accurately reporting
  • Acquirer Processing Fees (APF) accurately reporting
  • Statement Messages for upcoming changes impacting current proposal
  • Annual Compliance and Security Data Fee Discovery
  • Interchange evaluation of over 200 Card Types each having 4-5 qualification levels depending on Address verification Service, Card Verification Service, Merchant Category Codes, Stripe, Contactless, Chip, Authorizing and Settling within 24 hours.
  • Pin Debit Interchange and Switches analyzing Acell, AFFN, Interlink, Jeanie, Maestro, NYCE, Pulse, Shazam, & Star Networks for Switch Fee, Network Security Fees, Interchange and Level Qualifications
  • Analyze each line item insuring it reflects actual interchange costs with method of entry
  • Determine the appropriate pricing method relating to current method of acceptance.
  • Recommend advanced data entry for Level 2 and Level 3 data clearing
  • Eliminate erroneous fees that are profit centers as well to bring security levels to current standards
  • Package all findings into easy to comprehend proposal tailored to specific application.
  • Signed and Sealed by Electronic Transaction Association, Certified Payment Professionals.

We leave no stone upturned when it comes to maximizing your businesses cost reductions. Other companies blindly throw numbers, while we at PSI lead the way in accurate, detailed, analysis.

Call us today 800-279-7350 X.101