FARMINGTON — iTransact, a Farmington-based payment acceptance service provider, has tips for Davis County businesses on how to save money with its card processing fees during tough economic times.

“Companies need to understand that their credit and debit card processing fees, which often go unnoticed, can be reduced to free up funds for other activities,” said Matt Sumsion, vice president. “Here are five things you can do to reduce those fees.”

Some of the tips offered by iTransact include making sure the businesses’ debit/credit card machine is set up correctly, avoiding downgrades, choosing wisely on debit cards, being aware of “freebies” and choosing a helpful processor.

Setting up correctly includes making sure the processor has the correct business type as well as the correct Standard Industry Classification (SIC) code.

Businesses may also make the mistake of passing along the wrong information when processing a credit card transaction, resulting in higher fees.

“Pin-based debit card transactions usually offer a lower ‘discount rate’ but include a higher per-transaction flat fee,” said Sumsion. “So if a business usually runs many small ticket items (under $25), then they may be better off using the consumer’s card as a credit card.

“Some of these tips seem simple; however, business owners don’t think about those types of things when running their daily business,” Sumsion said.

“We feel that by reminding them, they may take a better look at how their business is spending money.”

For more information, visit www.itransact.com.

sgillet@davisclipper.com