Who Get’s Your Merchant Account Fees?

The Biggest Chunk: The Issuing Bank (the bank that “issued” your customer’s their credit card)
This part of your fees are called “Interchange.” Depending on the type of business, size of transaction and type used these fees range between 1.03% and 2.70% plus transaction fees of $0 to $0.15.
Next: Visa or MasterCard (the associations)
These are called [...]

Posted on June 25th, 2008 by Robb Lejuwaan in Basics, Interchange, Merchant Account, Rates and Fees Acquiring Bank, Interchange, Issuing Bank, MasterCard, Merchant Account, Rates and Fees, Visa

1 Feedback » | Read more »

The Three Price Points of a Merchant Account

How challenging can managing a merchant account be? I review 5 – 10 merchant account statements each week and almost everyone one starts out looking like it is written in a foreign language! Some statements have fees from three separate months! Other statements are extremely vague and seem to be intentionally hiding information. So the [...]