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It doesn’t matter how big or small your business is – if you take business credit cards, you can qualify for better rates. B2B transactions don’t have to cost more. Note: Unfortunately, in October 2017, Visa raised its rates for some commercial transactions and businesses won’t save as much by providing Level 2 or Level …
B2B Transactions: Level 2 and Level 3 Credit Card Processing Read More »
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Stay Informed We’ve updated this article several times and will continue to do so. Follow us on Twitter or Facebook for the latest news. Please let us know in the comments how you’ve been charged this fee. What is a Merchant Location Fee? Mastercard imposes a Merchant Location Fee for each business location that accepts its …
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In order to understand CPS, you need to understand the fundamentals of interchange and interchange qualification. I’ll briefly cover them in this article. If you’re interested in learning more, which I encourage, check out related articles on the topics of interchange and processor pricing models on CardFellow’s blog. Note: As of summer 2023, Visa has …
Visa CPS (Custom Payment Service) & Your Processing Fees Read More »
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It’s pretty clear from our Wells Fargo Merchant Services review that we don’t hold the company’s credit card processing services in the highest regard. We formed this opinion over many years of reviewing quotes, applications, and statements that push opaque, overly aggressive pricing. One of our least favorite tactics in Wells Fargo’s arsenal of tricks …
Interchange Clearing Fee – Wells Fargo Merchant Services Read More »
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Note: These fees were more common early after the EMV liability shift took place in 2015, but they can still apply for businesses that haven’t upgraded to chip-capable equipment. As time goes on, we anticipate these fees to be eliminated (or change into something else) as machines that can’t accept chip cards are phased out …
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Several months ago American Express introduced OptBlue, which is a new pricing structure that will replace the company’s current One Point pricing for most businesses. OptBlue’s pricing functions similarly to that of Visa and MasterCard’s interchange in that processors pay “wholesale” rates to American Express and apply their markup through a cost-plus or tiered pricing model.
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You’re setting yourself up for an expensive failure by shopping for the “best credit card processing rates.”
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The key to lowering your business’s credit card processing expense is not avoiding non-qualified fees. The key is completely eliminating a processor’s qualification altogether. Who Determines Rate Qualification Qualified, mid-qualified and non-qualified rates are set and manipulated by credit card processors through something called tiered pricing. There is one exception – Visa started using the …
Qualified, Mid Qualified & Non Qualified Credit Card Processing Rates Read More »
