Merchant Account & Processing Fees for Credit Cards
January 2nd, 2009
Stumbled a good website the discusses ways for any business to lower their processing fees of credit cards and merchant accounts. Seems this program was once only available to large corporations who process millions of dollars monthly. Companies like WalMart would have these special rates, but were closed to the average small business.
Today, any small business can avail of the same special treatment with incredible savings on their credit card processing fee’s with Interchange Plus Pricing. True cost, plus a low portion fee for the processor which remains the same for all transactions. This program will replace the existing tiered system presently in place for 99.9% of merchant accounts.
Program uses the true Interchange Rates charged by the associations, Mastercard and Visa. This complex matrix of transaction types has pricing for each category within the matrix. Seems very confusing and there does not seem to be any way for a merchant to determine a particular method of figuring out which transaction will fall where. That is determined by Mastercard or Visa and pass-through to the merchant.
This program will save any business money on there merchant account & credit card processing cost. For more information, visit the Merchant Account Blog.
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