Free Online Software Helps Businesses Compare Credit Card Processing Offers on Their Own Terms

CHICAGO, IL--(Marketwire - August 20, 2008) -

News Facts

-- Transparent Financial Services (TransFS) released this week a new version of their comparison-shopping software for credit card processing.

-- The software is always available, for free, to anybody, on TransFS' website.

-- After entering a few fields of information about their business, a business owner is presented with offers from as many as ten credit card processors. The bids are binding and the business owner can choose the bid she likes best at her leisure.

-- The interface is similar to those found at more well-known comparison shopping websites in other industries such as travel and electronics.

-- Credit Card Processing is a major issue for many business owners because it is expensive, costing between 2% and 4% of revenue, and is very complicated.

Quotes, attributable to Sean Harper Co-Founder, Transparent Financial Services:

"We started this business because we were small business owners frustrated with the shopping experience for financial products. We wanted to shop in an efficient, modern way, look at all the options on a website, click and begin a relationship. But the brokers and salespeople who sell financial products to small businesses weren't receptive. Even websites that promise a comparison shopping experience, like BuyerZone, actually just collect your information and sell it to salespeople who use their same old annoying sales tactics."

"With TransFS a business owner can shop on their own terms, just like they are already used to doing for many products in the consumer realm, such as travel and electronics."

Quote, attributable to Josh Krall Co-Founder, Transparent Financial Services:

"We have had a preliminary version of this software in the marketplace for several months. The users have been happy, receiving multiple bids within 24 hours. Those who were switching the credit card processor for an already-established business saved at least several hundred dollars per month of fees. This new version of the software significantly improves the user interface, reducing the screens of information the user must enter from seven to three."

Multimedia Elements:

Transparent Financial Services Website

Demonstration of Credit Card Comparison Shopping (Youtube version)

Demonstration of Credit Card Comparison Shopping (Large version)

Transparent Financial Services Blog

About Transparent Financial Services

Transparent Financial Services (TransFS) is a Financial Services Comparison Shopping business that uses technology to help business owners select the best credit card processing, business insurance, business credit cards and business banking providers. TransFS evens the playing field for small business owners using instant reverse auctions to quickly negotiate better deals, automated bill analysis software to identify unnecessary or undisclosed fees, and an online ratings and reputation system to determine the highest quality service providers. Based in Chicago, IL, TransFS can be found at http://transfs.com.