Credit Card Processing Fees....Are you confused?

Do you know what the words “Interchange Pass Thru” mean? If not, you are likely paying to much for your credit card processing. Traditionally small to mid-sized businesses have been set up with what is called “Multi-tier pricing” for their credit card processing. This system is usually set up with three tiers ( Qualified, Mid-qualified and Non-Qualified). Occasionally, if the business owner has negotiated well, there will be a fourth tier for qualified debit cards. While this system has worked well for many years, the increasing number of rewards and corporate cards has literally made this type of pricing obsolete.

Visa and MasterCard have over 100 different interchange categories, you can view the current interchange fees at the following link:
(http://www.1stfmg.com/cms/images/Paymen … 202008.pdf).

Some of these cards are actually not that much more to process than standard cards, but the underwriting company for the merchant account needs to make sure that they are profiting on every transaction. So you may be paying as much as 2.9% for a mid-qualified transaction and 3.5% on a non-qualified transaction. What Interchange pass thru does is pass the TRUE cost of running the card through to the merchant. The fees associated with the transaction will be put through at the lowest possible cost EACH AND EVERY TIME.

contact me if you have more questions
dknight@cardsolutionsinc.com

“Success seems to be connected with action. Successful people keep moving. They make mistakes, but they don’t quit.” Conrad Hilton

Good to know. Please, next time you post trying to drum up business, state so up front that you work for such and such a company. We try to keep advertising out of this forum.

What is with people hounding her about selling or advertising something? Not once she has ever offered to sell anything or advertised her business. She’s just posting helpful FREE information at her own timely expense…

Thanks for your response to my post. I have tried very hard to use wording that will not sound like a sales pitch, so if you could let me know what made you feel like it was a sales pitch, it will certainly help me in future posts.

Thanks again
Diana

Usually, the people on here who may have a product or service to offer (George Mills, Royster13, etc) they contribute their insight when there is a topic about it. They usually don’t start a topic. If everyone who could sell to the pizza industry started their own topic about their product, this would be a junk board. I would suggest to Solutionsgal to look for topics people have posted about your line of work and contribute there.

Yes master. Anything you say master.

Steveo, Do you have a problem with my response to her? Do you disagree? I’m sure you have something more intelligent to say.

Yes, I disagree. See below.

Not once she has ever offered to sell anything or advertised her business. She’s just posting helpful FREE information at her own timely expense…

And now we’re hijacking her helpful thread.

I recently got out of Tier Pricing and into Interchange Plus pricing. I am saving $80 a month now, and i have no contract and low processing costs! Do your own diligence!

Everyone out there please be aware that I am in the Merchant Solutions Business. My philosophy has and will always be " to help business owners with information, even if I don’t get their business". Information is what we base all of our actions on. If a business owner has all the information he/she needs, the greater likelihood the decision they make will have a positive affect on their business. Any of you may or may not use me for any of the solutions I provide, but you can still benefit from the information I provide.

If you can say “hey, that’s good to know”, then I have done a good job. Ask me anything you want, I have seen alot in the last 10 years.

Some days it is hard to know what one can get away with…I get messages from folks thanking me for my “laid back” approach…Others times I an encouraged to get more involved…

I sort of treat these kinds of things like a TV station. Why get offended…just don’t read it or respond to it if you think it’s an obvious sales pitch. I like seeing some of these contacts on the boards, if I choose to follow up their links, well then…that’s my decision. We simply have to get back to a common sensiblity in America where we stop treading so fearfully around every topic lest we “offend” someone. IMO of course. And Royce, I’m one that has always appreciated your insights on the board and have certainly checked out your website. I plan to follow up with a small order as soon as I have an address locked up to put on the products!

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SOMEBODY needs a time out. :roll:

Deacon, I sort of agree with you. However, THIS forum is not for that. Can you imagine if all the PAID sponsors of this website started topics about their product. This forum would turn into junk. You’d waste so much time sifting through topics. All I’m suggesting to Solutionsgal is to be like royster13, comment on topics you have some insight on. In time people will appreciate your insight and will look foward to your advice. We pizza operators are a weary bunch. We get 10 telemarketers a day, we get screwed by our food distributors, insurance companies, landlords, goverments, partners, banks, employees, credit card processors, the cheese market, utilities, phone companies, and everyone else who wants to take money from our pockets.
Can you tell I’ve had a bad day? Anyways, its good to share your insights, Solutionsgal, but you might also see where some of us are coming from.

PS. Royster, I do appreciate all your insight on here even when it doen’t pertain to you current line of work.

Since I’ve been here, theres been 1, maybe 2 credit card processing related threads. So is she supposed to sign up and wait and wait until someone finally starts a thread about it?

Solutionsgal, if you ever want to start a thread, pm me and I’ll start it for you since apparently you’re not allowed to give free information here if you own a business thats not a pizza business.

I’ve gained a some knowledge about this subject, and I don’t plan on using her service. So thanks solutionsgal for helpful, free information.

Glad to have been helpful with the information! If nothing else it arms you with information to start a dialogue with your current processor.

HUH???

Joined: 04 Feb 2009
Posts: 11
Location: Tucson, Az

Re: Credit Card Processing Fees…Are you confused?
Everyone out there please be aware that I am in the Merchant Solutions Business. My philosophy has and will always be " to help business owners with information, <<<even if I don’t get their business".>>> Information is what we base all of our actions on. If a business owner has all the information he/she needs, the greater likelihood the decision they make will have a positive affect on their business. Any of you <<<>>> for any of the solutions I provide, but you can still benefit from the information I provide

There haven’t been many threads about what gas supplier you use or what kind of paper and ribbons you use for the ticket printer. I get 3 people a week asking to compare my credit card processor and charges, if it was a concern of mine, I would of started a thread and asked opinoins.

FYI. There have been at least 5 topics devoted to cc processing since by July 31.

Papajoe, I hope I have armed you with enough information to tell your credit card processor, to pull their head out of their arse and stop ripping you off.

“Interchange pass thru”

Since the types of transactions vary every month I have never understood how to compare companies.

How does one go about determining if they are paying too much?
Do we just ask for “interchange pass thru”?