SolutionsGal
New member
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
[email protected]
“Success seems to be connected with action. Successful people keep moving. They make mistakes, but they don’t quit.” Conrad Hilton
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
[email protected]
“Success seems to be connected with action. Successful people keep moving. They make mistakes, but they don’t quit.” Conrad Hilton
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