Credit Card Processing

Credit Card Transaction Fees

A common and costly mistake when shopping for credit card processing services is to focus on a processor’s rate while paying little attention to transaction fees. The financial impact of this mistake is especially damaging for businesses with a low average sale amount. What’s the difference between a transaction fee and a processing rate? Authorization…

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More often than not, credit card transaction fees contribute more to cost than credit card processing rates.

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Credit Card Processing

Mobile Showdown: PayPal Here Vs. Square 2018

The battle for the micro mobile market heats up as PayPal Here enters the ring in direct competition with Square.

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PayPal Here has taken the mobile payments market by storm with a smartphone processing solution that in several ways gets the better of the current market leader, Square.

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Credit Card Processing

PayPal Here Credit Card Processing

With the Here mobile option PayPal takes direct aim at Square — the market leader in the smartphone credit card processing space. Square has a few things to worry about, too, not the least of which is PayPal Here’s slightly lower pricing and the more accessible phone support for prospective and existing customers. Pricing Swiped…

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Micro merchants and businesses that need to accept credit card payments while on the go have several smartphone credit card processing options to choose from. In addition to Square and Clover Go, one of the big players is PayPal Here, a service that allows iPhone, iPad and Android users to accept credit card payments through their mobile device.

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Credit Card Processing

Transaction Integrity Fee (TIF) Visa

Effective April 13, 2012, Visa began charging a Transaction Integrity Fee (TIF) of $0.10 on transactions involving Visa debit and prepaid cards that do not meet CPS requirements (more on this later). The Transaction Integrity Fee will not apply to Visa credit card transactions. Transaction Integrity Fee Details of the Transaction Integrity Fee Transaction Integrity…

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In 2012, Visa added a Transaction Integrity Fee to its list of charges for accepting a Visa credit card at a business.

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Credit Card Processing

Fixed Acquirer Network Fee (FANF) Visa

Visa’s new Fixed Acquirer Network Fee increased credit card processing fees across the board.

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Visa’s Fixed Acquirer Network Fee (FANF), previously called the Network Participation Fee (NPF), is a monthly fee that affects all businesses to a varying degree.

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Credit Card Processing

Merit 3 MasterCard Credit Card Processing Fees

Merit 3 is MasterCard fancy way of referring to a card-present transaction. Merit 3 can actually apply to several different interchange categories based on card brand, type and qualification. Merit 3 (or Merit III) is a MasterCard interchange qualification for credit and debit card processing fees. A Merit 3 transaction is settled within one day…

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Merit 3 (or Merit III) is a MasterCard interchange qualification for credit and debit card processing fees.

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Credit Card Processing

1.54% “Flat Wholesale Rate”

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…

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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.

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