By
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 …
By
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 The TIF will not affect a large number …
By
Visa’s new Fixed Acquirer Network Fee increased credit card processing fees across the board.
By
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. It does not apply to card-not-present transactions, which will typically qualify for Merit I interchange rates. This article explains specific Mastercard interchange categories. …
Mastercard Merit III Credit Card Processing Fees Read More »
By
At CardFellow, we received this message from a curious business owner. 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 …
By
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 …
By
There’s a lot of confusion about 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 …
Understanding American Express Merchant Services Read More »
By
If you use Intuit for your merchant services, you may find your monthly statements confusing. This tutorial will show you to read an Intuit merchant statement, and it will highlight the aspects of Intuit’s credit card processing services that make it expensive and opaque when compared to more competitive options that we will cover. The …
