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While many processors rely on a teaser introductory "Discount Rate", merchants have been burned by these programs since most of their transactions do not qualify for the base rate. Often a large majority of the transactions are assessed substantially higher fees for "Mid-Qualified" or "Non-Qualified" transactions. Sometimes error codes such as "Invalid tran id" or "Invalid/Missing Banknet data" will be used to identify the transactions. Other common terms can be “Corporate/Purchasing Card,” “Standard” or “Debit Interchange.” When pressed to explain the additional fees, processors adeptly dismiss the fees as unavoidable since the fees are set by Visa and MasterCard. Other explanations include labeling them as unavoidable "phone/internet transactions fees" or "corporate/business card transaction fees".
What many processors neglect to inform the merchant of is the fact that while there are penalties for not submitting transactions correctly, there are also specific rules to be followed to stay in compliance with Visa and MasterCard. The “Interchange Pass-Through” program will increase profits by reducing credit card processing costs. By maximizing compliance with MasterCard/Visa regulations you can:
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Reduce the number of surcharged transactions. More of your transactions will qualify for the best rate with no surcharges |
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Qualify for Special Discounts and Rebates |
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Downgraded transactions will be surcharged at Visa/Mastercard COST |
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Case Study #1
Automotive equipment supply company processes $500K monthly using a stand-alone payment processing program. Approval Code shows $2,000 a month in savings and helps integrate credit card processing into their application to eliminate double entry mistakes and waste.
Case Study #2
Guitar parts manufacturer accepts orders over the internet and the telephone. Approval Code provides a new terminal at no charge and shows over $1,000 in monthly savings.
Case Study #3
Hair salon distributor processes $65,000 a month using a terminal. Many additional charges for corporate cards and keyed transactions. Approval Code shows over $2,000 in annual savings just by switching
To find out how much YOU can save just by switching, send us a copy of a recent statement for analysis. We will happily put together a no-cost comparison showing what we would have charged on the same month's processing.
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