Interchange Fees

Mastercard Merit III Credit Card Processing Fees

Merit 3 is Mastercard’s way of referring to a card-present transaction for most restaurants and retailers. It can actually apply to several different interchange categories based on card type and other details. This article explains specific Mastercard interchange categories. If you’re not already familiar with interchange, it’s a good idea to start with our piece…

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Merit 3 (or Merit III) is a Mastercard interchange category that determines 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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Credit Card Processing

Are Credit Card Processing Fees Negotiable?

Before you can negotiate credit card processing fees, you have to know which fees are flexible. Credit card processing is like any other industry in that there are fixed costs and markups. Fixed costs are those that a processor can’t change, and markups are open to discussion. Understanding the components of credit card processing cost…

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Some credit card processing fees are negotiable, and some aren’t. If you’re looking to lower credit card processing fee, put the spreadsheet aside for a moment and read this article before you call another processor to ask the fateful question, “What’s your rate?”

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Credit Card Processing, Interchange Fees

Understanding American Express Merchant Services

There’s a lot of confusion of American Express merchant services. We regularly field questions about discount rates, pricing models, and settlement. In this article, we’ll explain everything you need to know about accepting American Express at a business. Just looking to see costs to take Amex cards? For the most up-to-date pricing, use our free…

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In the past, American Express was the most expensive credit card to accept; a reputation that it hasn’t shaken despite introducing a new pricing structure to bring costs more in line with other card brands.

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Credit Card Processing

How to Read an Intuit Merchant Statement

This tutorial will show you to read an Intuit merchant statement, and it will highlight the aspects of Intuit’s credit card processing servicesthat make it expensive and opaque when compared to more competitive options that we will cover. The methodology that we use to analyze an Intuit merchant account statement is outlined in our article…

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Understanding an Intuit merchant statement means reading between the lines.

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Credit Card Processing

Can I Reprogram My Credit Card Machine For Different Processors?

Older credit card machines that don’t have the proper hardware and memory to support modern programs may not work with any processors at all. Even if a credit card machine can be reprogrammed, it is a good idea to avoid reprogramming older machines that no longer conform to current PCI DSS or that can’t accept…

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Businesses that are considering switching credit card processors wonder, “Can I use my credit card machine with another processor?” If you’re wondering if your credit card machine can be reprogrammed, here’s the scoop: Some credit card machines can be reprogrammed to work with virtually any credit card processing service, while other machines will only work with a specific processor.

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Credit Card Processing

(Evil) Tiered Pricing Merchant Account Services

Tiered pricing is an opaque and expensive merchant account pricing model.

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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.

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Credit Card Processing

Reading A Credit Card Processing Statement

This article will provide the general steps and knowledge necessary to decipher your small business credit card processing statement, and will link to detailed examples of actual statement analyses that will allow you to follow along as we dissect various merchant account statements. Existing Clients: If you used CardFellow to find your current processor and…

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It’s not enough to simply read a merchant processing statement; the real goal is to understand what you are reading, where your money is going, and to determine whether your business has competitive credit card processing fees.

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