Credit Card Processing

PayPal Here Credit Card Processing

NOTE: As of April 2023, PayPal Here is no longer available by that name; it will be converted to PayPal Zettle. We’re leaving this article for historical accuracy. 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 […]

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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

Enhanced Merit 3

Enhanced Merit 3 is a MasterCard interchange category. Interchange fees are essentially the wholesale cost of credit card processing and generate income for banks that issue credit and debit cards. The word “Enhanced” refers to the type of credit card, and “Merit 3” refers to how the card is accepted and processed. The Enhanced MasterCard […]

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Enhanced Merit 3 is a MasterCard interchange category.

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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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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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