April 2008 Interchange Changes

I have been seeing competing merchant account providers raising their rates because Visa and MasterCard are making some adjustments to interchange rates. So what is really going on? Are the interchange rates really increasing? Here is what I know:

Visa

Effective April 2008 Visa is raising their "Signature Preferred - card not present" rates by .10%.

Here is a link to Visa’s current interchange rate guide: Visa Interchange Rates

MasterCard

Effective April 2008 MasterCard is adding new Merit 1 interchange categories for Insurance and Real Estate. These new levels will be pointed to "non-qual" categories by most merchant account providers.

Here is a link to MasterCard’s new interchange rate guide: MC Interchange Rates

So if your merchant account provider is raising your rates across the board it may be time for you to look elsewhere. If you are ready to see how much a straight pass through merchant account can save you go here and fill out the form or give me a call .

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