SwipeSum utilizes proprietary software to audit merchant services statements and identify unnecessary credit and debit card processing fees, enabling businesses to optimize their payment processing arrangements. By leveraging industry expertise and pre-negotiated terms, SwipeSum helps companies reduce costs and improve their payment solutions efficiently.
Funding
$5.1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses often struggle with hidden or excessive fees in their merchant service statements, lacking the expertise and tools to effectively audit these statements and negotiate better rates. The complexity of the payment processing industry and the sheer number of merchant service providers make it difficult for businesses to identify the most cost-effective and suitable payment solutions.
Solution
SwipeSum provides payment processing optimization services, leveraging industry expertise and proprietary software to audit merchant service statements and identify potential cost savings. Their approach combines AI-powered statement analysis with expert consulting to uncover unnecessary fees, verify billing accuracy, and optimize interchange rates. SwipeSum also offers vendor evaluation services, comparing existing processor relationships with a network of over 70 payment providers to find the best solution for each business's unique needs. In-house software engineers provide technical support to integrate hardware and build custom solutions.
Target Audience
SwipeSum primarily serves businesses of all sizes, from Fortune 500 companies to small businesses, across various industries, including B2B, e-commerce, SaaS, retail, and franchises.
Features
- AI-powered software, Staitment, for rapid merchant service statement auditing and analysis
- Identification of incorrect interchange billing, fixed rates, and negotiable rates
- Vendor evaluation comparing existing processors with a network of 70+ payment providers
- Custom solution design and integration support from in-house software engineers
- Assistance with chargeback and security measures to reduce fraud and fines
- Dedicated customer support team