Webinar Recap: How to Prepare an RFP for Credit Card Processing Services

When’s the last time you assessed your credit card processing needs? Regardless of whether it’s been a short time or several years, because of both increased security issues and advances in technology it may be time to consider issuing an RFP for your credit card processing services.

Last month, Natalie Kotlyar and Hoyt Treasury’s Dennis Hoyt hosted the webinar, “How to Prepare an RFP for Credit Card Processing Services.” Throughout the hour, they broke down important considerations for why your business could benefit from exploring other credit card processing options, including potential opportunities and challenges:
  • Though RFPs require more time upfront, they ultimately lower costs and effort in the long term
  • Creating an RFP helps you become more aware of current processing problems that may have gone otherwise unnoticed
  • The RFP process creates a standard format for reviewing pricing and nonquantifiable aspects of vendors, giving your business a consistent format for responding to RFPs in the future
The webinar also explored approaches to analyzing and comparing proposals to make the smartest choice for your organization. For step-by-step instructions on how to prepare your RFP, create a well-informed questionnaire and make sense of the results, listen to the full webinar and view the slides, here.

Be sure to follow @BDOConsumer for timely insights on real-time trends and developments in the retail industry. 
 

Dennis Hoyt is a financial consultant; working on treasury projects for over 25 years. In his practice, he has worked on and led numerous projects related to financings, cash management initiatives, credit card, electronic payments, risk management, forecasting, and others. Dennis holds an MBA, and is a CPA and Certified Treasury Professional. His firm, Hoyt Treasury Services, has been a BDO Alliance member since 2014.