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.