InterchangePlus Program
Interchange
(bank wholesale with dues, fees & assessments)
+ 0.20 % & 0.11¢
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InterchangePlus is the best way to price a merchant account. InterchangePlus is usally reserved for major corporations because of the saving that results by having a wholesale direct cost. The more common type of merchant account is "Three Tier" pricing and can cost merchant's many times more. With tiered pricing some merchant account providers can take advantage of the fact that you can't exactly compare their pricing to each other and play tricks such as marking up the downgrades, inconsistent tiered, mid qualified and non qualified. With 1st American Card Service's innovative new InterchangePlus program there are no surprises and you will be in good company with the largest businesses in America.
How It Works
Its very simple. Both Visa and MasterCard publish the Wholesale Interchange charts. They reflect every possible cost for every type of card, there are over 500 categories, but, usally only about 10 apply to most businesses.
Wholesale Interchange Rate Tables:
Visa Interchange (PDF)
MasterCard Interchange (PDF)
To determine a rate you just need to find the card type in the Interchange tables and add the mark-up:
Example:
Card Type: CPS/Supermarket Credit Interchange = 1.15% + .05¢
Plus Mark-up = .20 + .11
Cost: (1.15% + .05) + (.20% + .11¢) = 1.35% + .16¢
InterchangPlus is the most transparent form of pricing for Merchant Account services. Interchange is the wholesale cost that all banks must be charged by VISA and Mastercard. InterchangePlus means that we pass through our Wholesale cost that we are getting charged, plus a simple flat markup for all the service we render for our merchants.
Historically only the largest merchants with the most negotiating power were able to get InterchangePlus pricing but the market is getting increasingly competitive and merchants are becoming better informed, 1st American Card Service can now offer this to smaller companies.
Interchange Plus Benefits:
No Qualified Discount Rates
No Mid Qualified Discount Rates
No Non Qualified Discount Rates
No Surcharges
No Downgrades
No Hidden Fees
With Interchange Plus you are on an even informational playing field and know the exact Interchange and Exact mark-up.
Accept Cards On iPhone, iPad, iPod, Android, Blackberry Devices
No matter what mobile device you use, we have a Free app and card readers to Accept Credit Sards where you need it with real PCI security built-in. We have an intergated inventory system and email receipts! We simply have the most complete program available. Click Here for more information.
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No Application Fees - Guaranteed Lowest Prices
