Short answer
A merchant savings quote people trust leads with one clear number, shows a line-by-line comparison on the merchant's own figures, includes every cost on both sides, states its assumptions and shows the saving over time net of exit costs. It does not hide caveats, because the merchant will find them anyway.
Part of Selling and savings quotes. Start with the main guide: Merchant statement analysis in five minutes: a repeatable method
Key takeaways
- Lead with one headline number the merchant can check, then back it up with the detail.
- Compare the same month, with the same turnover and card mix, line by line on both sides.
- Include terminals, monthly fees and exit costs on both sides, and show the saving net of them.
- State the assumptions and the validity date on the quote.
- Show the cost of doing nothing over several years, because it is the most persuasive part when it is honest.
A quote is the document a merchant keeps. It gets passed to a partner, shown to an accountant or left on a desk for a week. What it says and how it says it decides whether the conversation continues. A good quote makes the next step obvious. A poor one gives the merchant a reason to put it off.
This guide sets out what a savings quote should contain, in what order, and what to be careful about. It follows the structure of a three-page quote like the one on our sample quote page, but the principles work in any format, from a one-page PDF to a spreadsheet.
What does a merchant want from a quote?
The merchant wants to answer four questions quickly.
- How much will I save?
- How do you know?
- What is the catch?
- What do I have to do?
Everything in the quote should serve one of those. If a section does not, cut it.
What is the structure of a good quote?
- The headlineOne number: the saving, per month or per year, in the merchant's own money.
- Side by sideTheir cost now against your offer, on the same month and the same turnover.
- Where the saving comes fromThe two or three lines that explain it, in plain words.
- Over timeThe saving across one to ten years, net of exit costs.
- The caveatsAssumptions, exit costs, contract terms and anything the merchant should check.
- Next stepsWhat happens, who does what and by when.
The order matters. Lead with the answer, then prove it.
1. The headline
Open with the number. Make it one number, in the merchant's own currency and units, and make sure you can defend it. A headline of "save £465.00 in the first year" is stronger than "save up to 30%".
If the bill is higher than the statement figures add up to, say so here. It is often the most striking fact in the whole analysis. See the bill check.
2. The side-by-side
Show the same month on both sides: their current cost line by line, and your offer line by line, using the same turnover, transactions and card mix. Include:
- Percentage fees by card type
- Per-transaction fees
- Monthly fees: terminal, gateway, PCI, statement
- One-off costs
- The total and the effective rate for each
The merchant should be able to run a finger down both columns and see what changed. Leave nothing out on either side. A comparison that omits the terminal on one side is not a comparison.
3. Where the saving comes from
Name the two or three biggest differences. For example, "most of the saving comes from a lower markup on debit cards and removing a £24.00 terminal charge". This answers "how do you know?" and makes the saving feel earned, not magic.
4. Over time
Show the saving across the years the merchant is likely to stay, net of the cost of switching. A merchant who sees the figure grow over a decade understands what doing nothing costs.
Take an example: a saving of £60.00 a month, with a one-off cost of £450.00 for exit fees and set-up.
| After | Gross saving | One-off cost | Net saving |
|---|---|---|---|
| 1 year | £720.00 | £450.00 | £270.00 |
| 3 years | £2,160.00 | £450.00 | £1,710.00 |
| 5 years | £3,600.00 | £450.00 | £3,150.00 |
| 10 years | £7,200.00 | £450.00 | £6,750.00 |
- Net saving
View the data as a table
| Net saving | |
|---|---|
| Year 1 | £270 |
| Year 3 | £1,710 |
| Year 5 | £3,150 |
| Year 7 | £4,590 |
| Year 10 | £6,750 |
£60.00 a month saved, less a £450.00 one-off cost. The merchant is ahead from month eight. Illustrative.
This is the "cost of staying put" view. It is persuasive because it is simple arithmetic, and it only works if the monthly saving is honest. A saving that is inflated in year one is also inflated in year ten.
5. The caveats
Put the caveats on the page, in plain words. They protect the merchant, and they protect you.
- Assumptions. Which statement and month you used, the turnover and card mix assumed.
- Contract terms. Minimum term, notice period, renewal and any price changes.
- Exit costs. What it costs to leave the current provider, and what is included in your figure.
- What could change the saving. A different card mix, much lower sales or a rate change.
- Validity. How long the quote holds.
A merchant who sees the caveats written down trusts the numbers more, not less. One who finds them later does the opposite.
6. Next steps
Say what happens next, who does it and how long it takes. "Sign here and we will have your terminal with you in about two weeks" beats "contact us to proceed". Include the date by which the old contract should be given notice if timing matters. See contract length, auto-renewal and notice periods.
What should you include on both sides?
The most common error in quotes is a lopsided comparison. Check that both columns have:
| Item | Current provider | Your offer |
|---|---|---|
| Percentage fees by card type | Included | Included |
| Per-transaction fees | Included | Included |
| Terminal rental or purchase | Included, even if billed separately | Included |
| Gateway, PCI, statement, minimum fees | Included | Included |
| One-off set-up | n/a | Included |
| Exit cost | Shown as a one-off | n/a |
| Refund and chargeback fees | Included where relevant | Included where relevant |
If the merchant's current terminal is on a separate invoice, include it. If your offer includes a free terminal, say what it costs over the term. The test is whether an accountant could check each line.
What should you leave out?
- Vague percentages. "Up to 40% savings" cannot be checked.
- Rates without turnover. A rate means nothing without what it applies to.
- Jargon the merchant does not need. Use plain words, and explain any term you must keep.
- Claims about other providers you cannot support. Compare your offer with the merchant's own statement, not with a competitor's marketing. See honest comparisons and misleading claims.
- Unrelated extras. Keep the quote to the savings question.
What tone and length work best?
A quote is read by a busy person. Keep it short enough to read in a few minutes and clear enough to follow without you in the room. Use short sentences and plain words. Put the most important number at the top and the detail below it. A three-page structure works well: the headline on the first page, the side-by-side on the second and the long-term view and next steps on the third.
Branding helps. A quote with your name, company and contact details on every page looks professional and is easy to forward. The checkmyrates calculator produces exactly that: a three-page PDF with the saving up front, a line-by-line comparison and the long-term view, with your details on each page.
What quality check should you run before you send?
- [ ] The headline number is one the merchant can check.
- [ ] The comparison uses the same month and turnover on both sides.
- [ ] Terminals and monthly fees are on both sides.
- [ ] Exit costs and set-up costs are included.
- [ ] The saving is tested on a quiet month.
- [ ] Assumptions and validity are stated.
- [ ] The next step and date are clear.
- [ ] Nothing in it would embarrass you if the merchant showed it to their accountant.
Frequently asked questions
What should a merchant savings quote include?
A single headline saving, a line-by-line side-by-side comparison on the merchant's own figures, the source of the saving, the saving over time net of exit costs, the assumptions and clear next steps.
How long should a quote be?
Short enough to read in a few minutes. A three-page structure works well: headline, side-by-side comparison and a long-term view with next steps.
Should I show the exit cost?
Yes, and early. Show the saving net of the exit cost, and say how long it takes to pay back.
How far ahead should I show the saving?
One to ten years is common, with the long view showing the cost of doing nothing. Make sure the monthly figure behind it is honest, since errors compound.
Can I compare my offer with a competitor?
Compare with the merchant's current statement, not with marketing claims you cannot support. Make sure any comparison is accurate and fair.
How do I make sure the quote is fair?
Include every cost on both sides, use the same month and turnover, test a quiet month and state your assumptions.
Sources and further reading
Figures in this guide are examples to show the method. Fees, rules and rates change, so check your own statement, contract and current rules before you decide. This is general information, not financial or legal advice.