Peak season brings big sales—and bigger processing costs. In our 30-minute webinar, How to Save Money on Credit Card Processing Fees During Peak Buying Season, payments expert Jim Luff and Aurora’s head of integrated partners John Badovinac shared practical ways jewelers can reduce fees, avoid costly errors, and keep more of every holiday sale.
Watch the full webinar replay: View the recording
Here’s a recap of what Jim and John covered during the webinar, that includes five takeaways you can apply now to start saving today.
Why fees spike during the holiday
The November–January surge means more transactions, more online orders, and more premium rewards cards—all of which push costs up. Even a small increase in your effective rate can quietly shave thousands off holiday profits.
Quick definition: your effective rate = total fees ÷ total card sales. If it’s creeping higher month to month, you’re leaking margin.
5 biggest takeaways for jewelers
1. Know what you can (and can’t) negotiate
Every transaction includes:
- Interchange (set by card networks; not negotiable)
- Assessments (small card-brand fees; not negotiable)
- Processor markups (your negotiable area)
Your leverage lives in the markup and in eliminating the errors that cause downgrades.
2. Stop “cost creep” at the source
Cost creep = gradual fee increases or add-ons that go unnoticed.
- Read the fine print on monthly statements for new or raised fees.
- Calculate your effective rate monthly and track it.
- Watch for miscellaneous or non-qualified line items.
Pro tip: If effective rate > ~3% without clear justification, it’s time for a review.
3. Avoid downgrades (they’re silent profit killers)
Transactions cost more when required data or timing criteria aren’t met.
- Settle batches within 24 hours
- Always use AVS (address verification) for online/CNP sales
- Prefer EMV/tap-to-pay over manual keying
- Ensure your POS sends the right data every time (integration helps)
4. Choose—and encourage—the right payment mix
Not all tenders cost the same.
- PIN debit is typically cheaper (Durbin-capped)
- Consider your Amex strategy (today it’s often more competitive)
- Offer ACH for high-ticket purchases where appropriate
- Enable digital wallets for faster, secure, lower-risk acceptance
5. Cash discounting vs. dual pricing
Both are legal for jewelers when implemented correctly and transparently.
- Cash discounting: display a price that includes up to ~4% for card; discount at POS for cash/PIN debit/ACH
- Dual pricing: show cash and credit prices side by side
- Requirements: clear signage at entry and POS; compliant receipts; never create a “profit center” via surcharging
If you’re unsure, get help configuring signage, receipts, and POS settings so you remain in compliance and customer-friendly.
What to check on your merchant statement (fast audit)
- Markup structure: Are you on cost-plus with a visible processor markup?
- Negotiables: monthly statement/service fees, batch fees, chargeback fees, early termination, gateway (sometimes waived if owned by provider)
- Non-negotiables: interchange + assessments (but you can qualify for better categories by fixing workflow issues)
Want a second set of eyes? Request a no-cost rate review: Contact Jim Luff
Pre-holiday payments checklist
- Rate review completed before Thanksgiving
- Hardware ready: EMV + tap-to-pay + digital wallets + ACH enabled
- Staff trained: refunds/voids (void same-day to avoid double fees), ID checks, fraud red flags
- PCI compliant: if you see a “non-compliance” fee, recertify to stop the ~$30/mo penalty
- Clear signage: if using cash discounting/dual pricing
- Batch timing: settle daily, same day
Why integrations matter
As John explained, integrated POS + payments reduce manual entry, errors, and reconciliation headaches—all frequent causes of downgrades. Integrations also enable:
- Level II/III data where applicable (extra savings on certain cards)
- Text-to-pay and online invoices with tokenization
- Inventory + CRM sync for personalized outreach (birthdays, anniversaries)
- Next-day funding on card; low-cost ACH options with verification tools
Start now
Small, smart changes now can protect thousands in holiday profit. Start with an honest look at your effective rate, fix downgrade triggers, and get your systems ready before the rush.
Watch the full webinar: How to Save Money on Credit Card Processing Fees During Peak Buying Season
Get a complimentary rate review (no pitch, just clarity): Contact Jim Luff
