Credit Watch

The Cost of Doing Business Just Changed!

The cost of doing business for roofing contractors reliant on credit card payments from vendors and clients just went up.

By Jill Bloom, Group Publisher, Roofing Contractor, Art Aisner, Thea Dudley

The cost of transactions between small businesses that rely on credit cards is going up. Visa was the first to announce an increase to its interchange fees for business-to-business transactions this month. Others could soon follow suit.

RC sought out experts Thea Dudley, CEO of Pocket Protectors, and Ryan Ayers, CEO and co-founder of Suppli, to get a better understanding of the impact on roofing contractors.

Roofing Contractor presents The Best of Success Podcast Show

VISA’s New Rate Hiked Oct. 1

Thea Dudley, CEO of Pocket Protectors, and Ryan Ayers, CEO and co-founder of Suppli, join RC to discuss the latest changes to credit card interchange fees. The association fees for Visa business-to-business transactions just went up and there’s speculation that others will, too. That could impact roofing contractors and others that rely on credit card payments to keep companies moving.

Dudley said that while most consumers and business owners understand there are fees associated with credit card purchases, they often don’t think about the specific costs and the impact on bottom lines. That should change not just for Visa customers, but for everyone as once one card company makes a move to enhance profitability, others usually do too.

“If one of them does it, you start seeing the rest of the dominoes fall, so this is just the tip of the iceberg,” she said.

Suppli is an accounts receivable and payments platform that helps distributors manage their accounts. Ayers said he’s been watching the situation closely, and that the idea is to ultimately decrease costs by decreasing risk.

“Interchange optimization essentially allows you to qualify for lower interchange rates when you provide more data with the transaction,” he explained. “The idea being, the more data you provide when you're going to process a payment, the lower risk that payment is, and so they're willing to process it at a cheaper rate.”

View the full video here or download the podcast version and listen on the go.

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Jill Bloom is the innovative Group Publisher of Roofing Contractor, Walls & Ceilings, Building Enclosure, Roofing Supply Pro, and the highly regarded Best of Success event. With a deep commitment to advancing the roofing, construction, and building enclosure industries, Jill oversees a robust portfolio of publications, podcasts, and events that empower professionals with knowledge, inspiration, and connections.

Her brands deliver exceptional value across multiple platforms, including:

Techos y Más, the Spanish-language newsletter of Roofing Contractor.
Safety Advisor, a newsletter focused on critical resources for jobsite safety.
Thermal Talk, a newsletter focused on insights and news for the insulation contractor.
eRock, a leading newsletter for drywall contractors.
The Enclosure Experts podcast, offering architects deep insights into building enclosure technologies.
If Walls Could Talk, a podcast dedicated to exploring trends and innovations for the wall and ceiling contractor.
The Best of Success Podcast, providing thought leadership and practical advice for roofing professionals.

Jill’s passion for professional development and fostering industry connections is exemplified by the Best of Success event, a premier gathering of contractors, suppliers, and thought leaders for unmatched education and networking.

Art Aisner is Editor-in-Chief of Roofing Contractor and Roofing Supply Pro. He spent the bulk of his career as a multi-media journalist for newspapers and television stations before joining the RC team in 2015. He is the driving force behind the publication’s content development, editorial strategy and other initiatives that serve growing audiences in the roofing space.

With more than 30-plus years of leadership experience in the roofing, insulation and LBM industry, Thea Dudley is a frequent contributor to numerous industry publications, a sought after speaker at industry events, podcasts and virtual learning. She can be reached at theadudley@charter.net.