Stumbled a great site the talks about ways for any business to lower their processing fees of credit cards and merchant accounts. Seems this program was once only available to large corporations who process millions a month. Companies like WalMart would have these special rates, but were closed to the average small business.
Nowadays, any small business can have the same special treatment with incredible savings on their credit card processing fee’s with Interchange Plus Pricing. Real cost, plus a small percentage fee for the processor which remains the same for all dealings. This program will replace the existing tiered system presently in place for 99.9% of merchant accounts.
Program uses the true Interchange Rates charged by the associations, Visa and Mastercard. This complex matrix of transaction types has several pricing for each category within the matrix. Seems very confusing and there does not seem to be any way for a merchant to determine a particular method of figuring out which transaction will fall where. That is determined by Mastercard or Visa and pass-through to the merchant.
The program will save money for any business on there merchant account & credit card processing cost. If you want more information, you may visit the Merchant Account Blog.
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