Merchant Overview

Minnesota Builders Exchange (MBEX) is a prominent organization that has served the construction industry since 1888. MBEX provides comprehensive resources, including project leads, construction news, and networking opportunities to its members. To streamline its operations and enhance member services, MBEX sought to upgrade its payment processing capabilities by integrating a new gateway into its existing software infrastructure.

MBEX logo
MBEX Dunwoody scholarship check

Challenges Faced by MBEX

  1. Complexity in Backend Administration: The existing system had a complicated and non-intuitive interface, making it difficult for administrators to manage transactions and member accounts efficiently.
  2. Inefficient Reporting: Generating financial reports was a time-consuming process, often requiring manual data extraction and compilation.
  3. High Merchant Service Fees: The organization was burdened with high merchant service fees, which impacted its budget and financial planning.

Solution Provided by Evolve Payment

Evolve Payment proposed a comprehensive solution that integrates seamlessly with MBEX’s existing software. The solution included:

  1. Payment Gateway Integration: Evolve Payment introduced a payment gateway tailored to MBEX’s specific needs, ensuring compatibility with their current systems and minimizing disruptions to existing processes.
  2. Enhanced Backend Administrator View: The new gateway featured an improved user interface that simplified transaction management, member account oversight, and overall administrative tasks.
  3. Advanced Reporting Tools: Evolve Payment incorporated robust reporting capabilities that allowed MBEX to generate detailed financial reports quickly and accurately.
  4. Reduced Merchant Service Fees: MBEX significantly lowered its merchant service fees by leveraging Evolve Payment’s competitive pricing and advanced fee structures.

Our Multi-Phased Implementation Process

The implementation process was carried out in several phases to ensure a smooth transition:

  1. Assessment and Planning: Evolve Payment conducted a thorough assessment of MBEX’s existing systems and payment processing needs, developing a detailed implementation plan outlining each integration step.
  2. Development and Integration: Evolve Payment’s development team introduced the payment gateway, ensuring it integrated seamlessly with MBEX’s software. Rigorous testing was conducted to identify and resolve any potential issues.
  3. Training and Support: Evolve Payment provided comprehensive training for MBEX’s administrative staff, ensuring proficiency with the new system. Ongoing support was made available to address any post-implementation concerns.
  4. Go-Live and Optimization: The new payment gateway was successfully launched, with continuous monitoring implemented to optimize performance and address any emerging needs.

Existing Effective Rate:

Proposed Effective Rate:

6.87%

2.33%

Percent Savings: 66.15%

Monthly Savings: $496.63

Annual Savings: $5,959.56

3-Year Savings: $17,878.68

Results Achieved

The implementation of Evolve Payment’s solution resulted in significant improvements for MBEX:

  1. Enhanced User Experience: The upgraded backend administrator view streamlined transaction management, making it easier for staff to oversee financial activities and member accounts. The intuitive interface reduced the time and effort required for administrative tasks.
  2. Efficient Reporting: The advanced reporting tools enabled MBEX to generate comprehensive financial reports easily, improving its ability to track revenue, monitor trends, and make informed financial decisions.
  3. Cost Savings: The reduction in merchant service fees provided immediate financial relief. MBEX was able to reallocate these savings to other areas of their operations, enhancing overall service delivery.
  4. Member Satisfaction: The improved efficiency and accuracy in payment processing translated to a better experience for MBEX members, fostering increased satisfaction and loyalty.


Conclusion

The partnership between Evolve Payment and Minnesota Builders Exchange exemplifies how tailored payment processing solutions can address specific organizational challenges and drive significant operational improvements. By integrating a payment gateway, enhancing the user experience in the backend administrator view, and lowering merchant service fees, Evolve Payment enabled MBEX to optimize their financial processes and better serve their members. This case study highlights the value of strategic technology investments in achieving long-term success and operational excellence.