BizSugar.com › Finance › Social Media and the growing power of peer comparisons in finance

One of the most powerful social network tools are peer comparisons. New financial web portals like Mint, Geezeo and ING's CompareMe allow consumers to see how similar people are managing their finances and investments. These online anonymous peer comparisons are demonstrating that there is strength in numbers.

Now business owners can use myRealRate.com to anonymously compare payment card processing expenses with what others are paying for merchant services within their industry. myRealRate is a rich internet application delivering peer-to-peer knowledge sharing with a nationwide database of the real costs to accept credit and debit cards.