Reading your credit card statements
Reading credit card statements is complicated. There is no standard and there are no regulations enforcing a pricing method. There is a credit card processing code of conduct, but it is not enforced because it is more of a recommendation. We’ll take you through a few things that will help you read and understand your […]
Getting the lowest credit card processing fees in Canada
Getting good rates from a credit card processor is tough but not impossible. It can be complicated to understand your rates. Credit card processing has some of the most complex pricing of any industry. We’re trying to remove that complexity or at least make it so you don’t need to care about it. Here are […]
The top tricks for Canadian credit card processing companies
You need to make sure you have good rates as a merchant. If you don’t have good credit card processing rates, it means less cash flow for you. You have higher costs, less profit, and will potentially need to resort to higher prices for your customers. It’s a downward spiral that makes it hard to […]
Ways to get the cheapest pricing in payment processing
First, just because a payment processor says they will get you 1.54% rates does not mean that is what you will pay. It’s unfortunate but true. Keep in mind, it is possible that there is a credit card type using a particular payment method that will give you that rate, but 99% of your transactions […]
Interchange Plus Pricing for Merchant Accounts
If there is one point you should take from this article, it is that Interchange Plus pricing is by far the most merchant friendly pricing model in credit card processing. If you don’t have interchange plus, get it. It is the model that is most difficult to have unexpected fees and it is the easiest […]
What is interchange plus in payment processing?
Interchange plus pricing, sometimes called cost plus, is one of the common ways that payment processors price their services for merchants. There are two other forms of pricing models, which are flat-rate pricing and tiered pricing. In the end, interchange plus is regarded as the most transparent and fair for merchants. That’s why it’s not […]
What are basis points?
When you’re in payments, you’re in an industry with thousands of competitors in a complex value chain. In fact, most of the industry involves just a handful of very large banks. However, the industry is so big that very large companies can be built by just taking a sliver of the industry. That’s why basis […]
How does billing cycle impact merchant account rates?
Billing cycles are one of the most important components that payment processors use to determine the risk level of a business. They determine the risk level with an underwriting process. Billing cycles are the methods you use as business to charge your customers. For example, the typical cycle for retailers is a one time transaction. […]
The difference between credit card and debit card rates
As a merchant, you need to know there is a difference between the merchant fees of credit cards vs debit cards. In the end, credit cards are more expensive for you than debit cards. Here’s why: There is a confusing part where sometimes, particularly in USA, a consumer needs to sign for a debit transaction […]
What is the effective rate in payment processing?
The credit card processing industry has some of the most complex pricing of any industry. To make it more difficult, the industry is so competitive that most payment processors don’t try to make it clear and even try to mislead what the pricing actually is. Is is also common that processors hide fees, overcharge for […]