By John Robinson, of Cocard Synergy
Before I get to the meat of the matter, let me finish what I began last week. It bugged me that I only knew what TJ Maxx was supposed to be fined, so I went and found out what they were fined. Rather than the roughly $100 per [...]
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 [...]
