Interchange Plus Pricing Program

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Interchange Plus Pricing Program

Are you a merchant who is currently processing a large monthly volume and want the best pricing?

Back to the Basics (a clearer understanding)

Visa & MasterCard have several dozen rates known as Interchange, which determines the rate a merchant must pay for a particular transaction. The applicable rate is determined by various circumstances, such as was the card swiped, keyed-in with(out) AVS, is a business, corporate or reward cards.

The standard method of pricing that 99% of all merchants pay is known as 3-tier pricing. This consists of three separate prices called Qualified, Mid-Qualified & Non-Qualified. The Qualified discount rate is the base price you pay on all transactions and only covers a few Interchange rates. When a merchant processes a transaction that goes through one of the more expensive Interchange rates, providers add the Mid-Qualified or Non-Qualified rate to the merchant's Qualified rate. There is no industry standard pricing, but 1% for the Mid and 1.60% for the Non is quite common. To elaborate, when a merchant is setup under a 3-tier pricing schedule, they will pay one of the following three rates on each transaction:

Qualified Discount Rate
Qualified + Mid-qualified
Qualified + Non-Qualified

For retail merchants, the mid-qualified will apply to any keyed-in transaction. For Internet & Mail/Phone order merchants, the mid-qualified generally only applies to the reward cards, but it all depends on the provider.

What's Gotmerchant.com's Offer?

The pricing program we are offering is known as Interchange Plus. You will receive the actual Interchange cost plus a set markup for our services and the liability we assume for giving you the unsecured line of credit. The transaction fee you will incur includes the processor's fee. Please call or email us for a rate quote.

A distinct advantage with Interchange Plus is it is most cost effective. Under the standard 3-tier pricing, you are paying one of three rates which covers a number of different prices. In other words, it would be as if you used a nickel to purchase something that cost anywhere from 1 to 5 cents and pennies no longer existed.

Note: You can not accurately compare Interchange plus with any other pricing program for there is no common ground amongst the two. It would be like trying to compare apples to oranges.

All information is kept completely confidential

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