I have a question about a specific company – [removed to protect the guilty]. They are saying the rate they can provide is 1.54% on qualified and mid-qualified cards (“flat wholesale rate”). The only other rate is “up to 4.61%” on non-qualified cards. Then they charge a three-cent credit card transaction fee and no basis […]
Sometimes it’s easier to explain pitfalls in credit card processing by using real situations our clients have encountered. The 1.54% “flat wholesale rate” is one example.
Tiered pricing is an opaque and expensive merchant account pricing model.
Tiered merchant account pricing is currently the most common form of pricing for credit card processing services. Tiered pricing is opaque, expensive and is the vehicle for many of the hidden fees that plague the credit card processing industry.
If so, you’ll be really happy to learn that non-qualified rates are nothing more than a figment of your processor’s imagination often used to increase profits through the practice of excessive surcharging. Non-qualified rates can be easily avoided, and this article will show you how to rid yourself of non-qualified fees forever. The Frustration of […]
Are you looking at your credit card processing statement every month while banging your head against the wall trying to figure out how to lower your non-qualified credit card processing fees?
Understanding how credit card processing fees are determined and how different merchant account pricing models work can save your business hundreds of dollars a month in transaction costs. One of the first questions you’ll ask is “Which should I go with, tiered pricing or interchange plus?” Tiered pricing is never in your best interest, but don’t […]
Tiered pricing or interchange plus? How do you know what’s best for your business?
Use the secrets that credit card processors don't want you to know to drastically lower your credit card processing fees.
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