Rates & Fees - Educate Yourself
Low Rates and Fees
Our Rate and fee structure is the most competitive in the industry. We are able to evaluate your current processing statements, and prepare a proposal so that we can show you the savings when signing with us.
All of the monthly fees are at the discretion of the merchant account provider but the majority of the per-item and percentage fees are passed through the merchant account provider to the issuing bank according to a schedule of rates called Interchange fees, which are set by Visa and MasterCard. Merchant account providers usually group the 130 categories into 3 or 6 categories and apply a single rate to that entire bucket. This includes Retail, Mail Order / Telephone Order and eCommerce or Card Not Present. These tiers describe costs for different kinds of credit cards when processed under different kinds of circumstances. For example, a check card costs less than a consumer credit card which costs less than a business card. The method of how a credit card is processed changes which tier of Interchange is applied. For example, a swiped credit card costs less to process than one that is keyed into a credit card terminal. (credit card not present)
3- Tier pricing in the most popular pricing method. In 3-Tier pricing, the merchant account provider groups the transactions into 3 groups (tiers) and assigns a rate to each Tier.
topQualified rate
A qualified rate is the percentage rate a merchant will be charged whenever they accept a regular consumer credit card and process it in a manner that has been defined as standard by their merchant account provider. This is the lowest rate a merchant will incur. The qualified rate is also the rate commonly quoted to a merchant.
topMid-qualified rate
Also known as partially qualified rate, the mid-qualified rate is the percentage rate a merchant will be charged whenever they accept a credit card that does not qualify for the lowest rate (the qualified rate). This may happen for reasons such as:
- A consumer credit card is keyed into a credit card terminal instead of being swiped.
- A special kind of credit card is used like a rewards card or business card.
Non-qualified rate (Non AVS)
The non-qualified rate is the highest percentage rate a merchant will be charged whenever they accept a credit card. All transactions that are not qualified or mid-qualified will fall to this rate. This may happen for several reasons such as:
- A consumer credit card is keyed into a credit card terminal instead of being swiped and address verification is not performed.
- A special kind of credit card is used like a business card and all required fields are not entered.
- A merchant does not settle their daily batch within the allotted time frame.
Low Creditcard Processing Rates