Credit Card Processing

Credit Cards are a necessary evil in selling goods and services. Your customers demand it and reward you with increased sales. But those sales come at a high cost. Fortunately there are ways to limit, or eliminate, what you pay for credit card processing.

The lowest rate can actually cost you more!

Traditional credit card processing is based on fees known as Interchange. Interchange is the amount that VISA and Mastercard charge for each transaction. But since it is impossible for a merchant to deal directly with VISA and Mastercard, agents or brokers known as Independent Sales Offices ( ISO's) connect merchants with the Interchange system. Since ISO's have to make a profit, fees and basis points are added onto the Interchange fee creating the total charge merchants must pay to take a credit card. But since VISA and Mastercard charge different fees based on the type of card used and how it is used and ISOs add their fees in often confusing manners it's very difficult if not impossible to figure out the exact cost of you credit card processing. So when comparing credit card processing offers just remember to include downgrades, processing fees, batch fees into your equation.

One size doesn't fit all
The way fees are calculated are very dependent on the type of business or service offered. So if a greeting card store is using the same program that their friend at the pizza shop recommended chances are good that that at least one friend was paying too much. By matching the the type of program to the type of business you can save a lot or all of your money.

Interchange Credit Card Program

This is the standard program that most businesses have. But whether you are paying a flat fee percentage or Interchange plus your current merchant account depends on Interchange. The difference between the 2 approaches is how your ISO packages their fees. But in the end, the price you are paying is always greater than the Interchange rate. We can show you where you are overpaying and design a program specifically for you. And unlike our competators, we will gladly go over your rates from time to time to insure that you are still getting the best possible rate for your business. 

Cash Discount Credit Card Program

So you have looked over all of the interchange based programs and have come to the conclusion that none of them work well fo you. They are either too expensive or you feel like you are being taken advantage of with all of the sneaky, hidden fees. Until now you just had to grin and bear it an sign up with one that looked at least a little better than your previous program. NOT ANY MORE! New government regulations have allowed for the creation of a completely new type of credit card program. This program allows you to offer a cash discount to any of your customers paying by cash. But if they still want to pay by credit card, they agree to pay all of the processing costs. In essence, this completely eliminates all costs to the merchant regarding taking credit cards. This is a win for your bottom line and a win for allowing your customers an opportunity to save by paying with cash. To get started, please contact us.

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