MIC BankCard Puts Money Into Dealers’ Pockets, Not The Banks
The Motorcycle Industry Council’s (MIC) BankCard Program remains one of the best kept secrets in the powersports business. Nearly 30% of a dealer’s business comes via a credit card. However most dealers are giving money to the banks on this credit business. “Many dealers don’t know how they can streamline their credit card processing fees, let alone how much they should actually pay,” explains MIC BankCard President Matt Tanzy. “And nobody is going to tell them when they are paying too much.”
Tanzy and MIC BankCard Managing Director Gene Lydick sit down in front of the Dealernews LIVE cameras and demystify the processing fees shell game, “Many times the dealer has worked hard to negotiate their rates only to discover they have received inaccurate or incomplete information from a bank, processor or independent rep when we talk to them,” note Lydick in part 1 of this exposé.