Watch this video to learn about changes to Interchange coming in October and why, if you have a merchant account with tiers (qualified, mid-qualified and non-qualified), it is time to switch your account to an Interchange Plus price model.
Check back here in the next few days for more specifics on the coming changes to Interchange.
If you would like to lower your merchant account fees by switching to a “straight pass through” account go here, fill out the short form and we’ll have you saving money in no time.
If you would like us to analyze your current merchant account and show you how much a “straight pass through” merchant account [...]
If you are seeing a Visa transaction category named “EIRF” on your merchant account statement you are probably paying much more in discount fees than you need to. If you do not know what EIRF is, read this post and then come back: What is EIRF?
So how do we get rid of EIRF? [...]
Rules. It seems like we have more rules in our lives every day doesn’t it? I am writing this post to make you aware of some more rules. These rules are for merchant accounts and if you don’t follow them you will you will be fined! Well maybe [...]
Each month I review my client’s merchant account statements. I want to make sure they are saving at least as much money I promised and are having their transactions qualify for the lowest rates.
I just got off the phone with a new client of mine; a winery in St. Helena, CA. They are [...]
Capture Level II and III Data on Corporate Card Transactions
Visa and MasterCard business, commercial and purchasing cards are used just like personal credit cards. However, these cards have higher interchange rates because they offer businesses high value (and costly) features such as enhanced reporting, consolidated billing for multiple cards and statement enhancements.
The general rule [...]
Obtain Authorization/Settlement Mismatch Exemptions
In general, any variation between authorization and settlement amounts cause downgrades for merchants, which always results in higher fees. However, certain industries are allowed some authorization/settlement leeway due to the nature of their business. For example a restaurant; because an authorization will not include a figure for a tip the [...]
I know the word “secrets” could be construed as an overstatement. However, I talk to merchants from all over the country every day and most of them do not know one thing about how to keep merchant account fees as low as possible.
Why is there a general ignorance about these methods? It is simple, the [...]
No, EIRF is not a cousin of the once popular Smurfs. In fact EIRF is not any where close to being a nice, soft, smiling, blue cartoon character. On the contrary, EIRF is disagreeable, hard, frowning and black! If you have it you most certainly are wondering what it is, how you [...]
Yesterday I had a scheduled appointment with a winery here in Southern California (Temecula, CA). A very rare thing happened on the way there – I got lost! I mean really really lost; I arrived at the winery over 1.5 hours late! Turns out there are two streets of the same [...]
Part of my job is to review and analyze merchant account statements from various businesses around he country. When ever I see the categories of “mid qual” and “non-qual,” I get a big smile on my face because I know my potential client is being taken advantage of.
Here is how these tiers work to [...]
Pricing Difference Between a Retail and a MOTO Account
Both Visa and MasterCard see a card not present (CNP) transaction as a greater fraud risk than when a card is present and swiped. Therefore, both have a .31% surcharge on CNP transactions. So let’s say you have a base discount rate of 1.85% on [...]
