electronic bill payment and presentmenttejinderubs
EBPP (Electronic Bill Presentment and Payment) allows companies to electronically present bills, invoices, and statements to customers and enables customers to make corresponding payments for goods and services. There are multiple participants in the EBPP process including billers, customers, biller service providers, customer service providers, biller payment providers, and customer payment providers. The EBPP process involves service initiation, presentment of bills to customers, and payment and remittance between participants using payment/remittance networks. EBPP provides benefits to both consumers and billers such as convenience, cost savings, and improved customer service.
This document provides an overview of e-commerce payments, including the basics of payment systems and credit card processing. It discusses credit card transactions and the various parties involved, such as the cardholder, merchant, acquirer and issuer. It also outlines the credit card payment process flow and types of transactions like authorization, capture, sale and refund. Additionally, it examines the journey of card fees in a transaction and how different parties like the merchant, acquirer and issuer are charged at each step. It notes some key concepts to know, like liability shift, MOTO transactions and chargebacks.
The document discusses chargebacks, which occur when a credit card transaction is reversed at the request of the cardholder or issuing bank. It provides information on the chargeback process and reasons for chargebacks such as fraudulent transactions or unsatisfactory purchases. The impacts on payment providers, merchants, and customers are described. Key steps in the chargeback process and what is required for merchants to reject a chargeback claim are outlined. The document also provides tips for merchants to avoid chargebacks by clarifying policies, order details, and responding promptly to issues or claims.
Navigating Payment Processing | Jay WigdoreJayWigdore
A merchant account is a business account with a bank that allows an organization to accept credit card payments for donations or other products/services.
AccessPay is a Bacs Approved Solution Supplier (BASS), giving you access to all the Direct Debit and payment capabilities of Bacs from one central, easy-to-manage dashboard.
The document discusses various e-commerce payment systems including traditional methods like cash, checks, and credit cards as well as online systems like credit card transactions, SET protocol, digital wallets, PayPal, and B2B payment systems. It notes issues with using credit cards online like security, costs for merchants, and lack of access for some consumers. It also describes features of different online payment methods and their advantages and disadvantages.
BankerVMS is a vendor management system that helps banks organize vendor contract information, assess vendor risks, monitor costs, and generate reports to assist with compliance, management, and expense control. It provides a central repository for electronic contracts, alerts for expiring contracts, risk assessments of vendors, and customizable dashboards and reports. Customers praise how it helps gain efficiencies in vendor negotiations and oversight in order to reduce costs and risks.
electronic bill payment and presentmenttejinderubs
EBPP (Electronic Bill Presentment and Payment) allows companies to electronically present bills, invoices, and statements to customers and enables customers to make corresponding payments for goods and services. There are multiple participants in the EBPP process including billers, customers, biller service providers, customer service providers, biller payment providers, and customer payment providers. The EBPP process involves service initiation, presentment of bills to customers, and payment and remittance between participants using payment/remittance networks. EBPP provides benefits to both consumers and billers such as convenience, cost savings, and improved customer service.
This document provides an overview of e-commerce payments, including the basics of payment systems and credit card processing. It discusses credit card transactions and the various parties involved, such as the cardholder, merchant, acquirer and issuer. It also outlines the credit card payment process flow and types of transactions like authorization, capture, sale and refund. Additionally, it examines the journey of card fees in a transaction and how different parties like the merchant, acquirer and issuer are charged at each step. It notes some key concepts to know, like liability shift, MOTO transactions and chargebacks.
The document discusses chargebacks, which occur when a credit card transaction is reversed at the request of the cardholder or issuing bank. It provides information on the chargeback process and reasons for chargebacks such as fraudulent transactions or unsatisfactory purchases. The impacts on payment providers, merchants, and customers are described. Key steps in the chargeback process and what is required for merchants to reject a chargeback claim are outlined. The document also provides tips for merchants to avoid chargebacks by clarifying policies, order details, and responding promptly to issues or claims.
Navigating Payment Processing | Jay WigdoreJayWigdore
A merchant account is a business account with a bank that allows an organization to accept credit card payments for donations or other products/services.
AccessPay is a Bacs Approved Solution Supplier (BASS), giving you access to all the Direct Debit and payment capabilities of Bacs from one central, easy-to-manage dashboard.
The document discusses various e-commerce payment systems including traditional methods like cash, checks, and credit cards as well as online systems like credit card transactions, SET protocol, digital wallets, PayPal, and B2B payment systems. It notes issues with using credit cards online like security, costs for merchants, and lack of access for some consumers. It also describes features of different online payment methods and their advantages and disadvantages.
BankerVMS is a vendor management system that helps banks organize vendor contract information, assess vendor risks, monitor costs, and generate reports to assist with compliance, management, and expense control. It provides a central repository for electronic contracts, alerts for expiring contracts, risk assessments of vendors, and customizable dashboards and reports. Customers praise how it helps gain efficiencies in vendor negotiations and oversight in order to reduce costs and risks.
The document provides an overview of the complex Canadian payments system landscape, which involves a wide range of stakeholders. There is significant innovation and choice in payment methods for consumers and businesses. The regulatory environment is also complex, with multiple regulators and government bodies involved. Key trends include the declining use of cheques and growing electronic payments, as well as innovation centered around consumer payments.
Ild's no credit card required alternative payementILD Teleservices
The document discusses ILD Teleservices, a company that provides an alternative payment option called "Bill to Phone" that allows online purchases to be charged directly to consumers' phone bills. Bill to Phone increases merchants' revenue by up to 25% by reaching the 23% of US households without credit cards. It works by validating customer information during purchase and billing the phone company, which collects payment and settles funds with merchants after deducting fees. ILD processes over $500 million in transactions annually for hundreds of merchants in industries like music, dating, software and more.
This document provides definitions for common payment terms used in the payments industry. It defines key terms including acquirer, authorization, average transaction size, BIN, capture, cardholder, chargeback, credit card associations, interchange fee, merchant account, mobile payment, payment processor, POS, and transaction fee. Understanding these terms makes working with payment providers and understanding costs easier.
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Smart Card provides a pre-paid public transportation card that can be used across multiple transit systems in the Bay Area without needing exact change. The card has a built-in computer chip and can be used to pay for transit, parking, coffee, groceries and more. Smart Card aims to expand to new retail partners and cities in the next 3-5 years.
Allied Wallet offers merchant transaction services in 196 countries and processed payments in 164 currencies. It provides ACH processing solutions as an alternative to an in-house system, which can save paper and costs. ACH is a common U.S. electronic funds transfer system that clears transactions between financial institutions in batches, holding payments for a short time before delivery. It is governed by NACHA and moves nearly $39 trillion annually, processing credit, debit, payroll and other transactions.
Canadian Clearings and Check Image Evolution in CanadaVivastream
The Canadian Payments Association (CPA) implemented a four-phase initiative from 2010 to 2013 to transition the Canadian payments system to using check images. Phase I recognized images as legal documents. Phase II allowed banks to truncate checks and exchange images instead of physical checks. Phase III introduced returned check image exchange. Phase IV will implement an industry-wide image exchange when complete. The initiative modernized the Canadian payments system through a gradual transition to using check image technology.
A credit card allows the holder to make purchases and pay for them later. The issuer grants the holder a line of credit that can be used to make purchases from merchants. Unlike charge cards, credit cards allow balances to be revolved over time with interest charged on outstanding balances. Most credit cards are issued by local banks and conform to international standards for size and shape.
Online Payment Services and the Role of BanksPaymentAsia
Payment service providers represent an essential link in the global financial chain. However, most consumers never give them a second thought. Payment service providers connect merchants to the broader financial system so that they can accept debit and credit card payments from their customers.
Credit cards-nj-understanding-electronic-paymentsJennifer R Glass
In the ever-changing world of electronic payments, it is quite difficult to understand what programs are available, how one can use them and how one knows they're getting the best deal. With this presentation, we hope to clarify the mysterious nature of the payment market so that you can understand what is available for you and your business.
This statement provides an overview of account activity for the period of 09/01/12 - 09/30/12. It shows a total of $524.02 was submitted in transactions, with $57.09 being third party transactions and $8.22 in chargebacks/reversals. After adjustments of -$3.14 and fees of -$8.19, the total amount processed was $447.38. The statement also includes breakdowns of transactions by card type, amounts submitted and processed by batch, as well as details of fees charged.
The document provides an overview of credit card processing and Advanced Merchant Group. It discusses why it is a good time to be in the processing industry due to rapid changes. It then summarizes Advanced Merchant Group's role in the transaction process, including underwriting merchant accounts and providing customer service.
Global Trends in Large Value Payment SystemsKimmo Soramaki
We discuss 10 main trends in the settlement of large-value interbank payments;
1. Diffusion of Real Time Gross Settlement
2. Take Off of Hybrid Systems
3. Emergence of Cross Border and Offshore Payment Systems
4. The Rise of CLS
5. Increasing Settlement Values and Volumes
6. Shrinking Average Payment Size
7. Falling Number of System Participants
8. Extended Operating Hours
9. Declining Transaction Fess
10. Adoption of Common Standards for LVPS
Payments: From a commodity to a fundamental driver of eCommerce successCheckout.com
The founder of Checkout.com, Guillaume Pousaz, spoke at eCommerce Expo 2015 on how data from online payments can help drive growth for online businesses. Checkout.com - Online Payments.
Understanding E-Commerce Pricing: The pros and cons of IC++Checkout.com
This document discusses Interchange++ (IC++) pricing models for e-commerce transactions. It explains that IC++ separates interchange fees, scheme fees, and acquirer premiums for more transparency. While complex, IC++ pricing allows merchants to understand costs for different card types and transactions. The document provides examples of how IC++ fees vary and outlines both pros of transparency and cons of complexity versus blended rates. It concludes that merchants should evaluate their needs and discuss IC++ pricing with acquirers and payment providers.
NARCA 2013 COMPLYING WITH ELECTRONIC BANKING POWERPOINTBrenda Majewski
This document summarizes a panel discussion on complying with electronic banking standards for law firms. The panelists discussed key concepts like the ACH, EFTs, and regulations like Regulation E. They emphasized the importance of having proper policies and procedures in place and being familiar with rules regarding client funds, electronic payments, notices and authorizations. Failure to comply could result in contractual or legal issues. The panel provided best practices around issues like check by phone authorizations, recurring payments, handling returned items and hold requests. Resources for further information were also shared.
Merchant acquirers face increasing challenges in the rapidly changing global payments landscape, but these challenges also bring new opportunities. The key functions of acquirers include signing up merchants to accept card payments, authorizing transactions, and facilitating clearing and settlement of funds between merchants and card issuers. Acquirers also provide dispute management and information services to merchants. Major challenges for acquirers include regulatory pressures, compliance issues for small merchants, threats from non-traditional players, and fraud; however, opportunities exist in developing new pricing strategies, technological investments, and multichannel acquiring.
The document provides an overview and agenda for a National Sales Agent training program. It aims to give agents a basic understanding of the payments industry, Leaders Merchant Services' products and services, pricing, selling strategies, and how to make money. It covers topics like the payments transaction process, fees involved, EMV, Durbin Amendment, PCI compliance, and Leaders' offerings like credit/debit card processing, gift cards, loyalty programs, and merchant cash advances. It emphasizes ethics in marketing and stresses developing prospects through referrals in order to generate sales.
Understanding B2B Payments- Explore Out the Payment Techniques and Their Key ...itio Innovex Pvt Ltv
By staying well-informed about these critical aspects and acquiring the top credit card processor, businesses can streamline their financial processes, enhance their cash flow, and maintain strong relationships with their trading partners.
To know more about this visit: https://webpays.com/credit-card-processing.html
The document provides an overview of the complex Canadian payments system landscape, which involves a wide range of stakeholders. There is significant innovation and choice in payment methods for consumers and businesses. The regulatory environment is also complex, with multiple regulators and government bodies involved. Key trends include the declining use of cheques and growing electronic payments, as well as innovation centered around consumer payments.
Ild's no credit card required alternative payementILD Teleservices
The document discusses ILD Teleservices, a company that provides an alternative payment option called "Bill to Phone" that allows online purchases to be charged directly to consumers' phone bills. Bill to Phone increases merchants' revenue by up to 25% by reaching the 23% of US households without credit cards. It works by validating customer information during purchase and billing the phone company, which collects payment and settles funds with merchants after deducting fees. ILD processes over $500 million in transactions annually for hundreds of merchants in industries like music, dating, software and more.
This document provides definitions for common payment terms used in the payments industry. It defines key terms including acquirer, authorization, average transaction size, BIN, capture, cardholder, chargeback, credit card associations, interchange fee, merchant account, mobile payment, payment processor, POS, and transaction fee. Understanding these terms makes working with payment providers and understanding costs easier.
company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
Smart Card provides a pre-paid public transportation card that can be used across multiple transit systems in the Bay Area without needing exact change. The card has a built-in computer chip and can be used to pay for transit, parking, coffee, groceries and more. Smart Card aims to expand to new retail partners and cities in the next 3-5 years.
Allied Wallet offers merchant transaction services in 196 countries and processed payments in 164 currencies. It provides ACH processing solutions as an alternative to an in-house system, which can save paper and costs. ACH is a common U.S. electronic funds transfer system that clears transactions between financial institutions in batches, holding payments for a short time before delivery. It is governed by NACHA and moves nearly $39 trillion annually, processing credit, debit, payroll and other transactions.
Canadian Clearings and Check Image Evolution in CanadaVivastream
The Canadian Payments Association (CPA) implemented a four-phase initiative from 2010 to 2013 to transition the Canadian payments system to using check images. Phase I recognized images as legal documents. Phase II allowed banks to truncate checks and exchange images instead of physical checks. Phase III introduced returned check image exchange. Phase IV will implement an industry-wide image exchange when complete. The initiative modernized the Canadian payments system through a gradual transition to using check image technology.
A credit card allows the holder to make purchases and pay for them later. The issuer grants the holder a line of credit that can be used to make purchases from merchants. Unlike charge cards, credit cards allow balances to be revolved over time with interest charged on outstanding balances. Most credit cards are issued by local banks and conform to international standards for size and shape.
Online Payment Services and the Role of BanksPaymentAsia
Payment service providers represent an essential link in the global financial chain. However, most consumers never give them a second thought. Payment service providers connect merchants to the broader financial system so that they can accept debit and credit card payments from their customers.
Credit cards-nj-understanding-electronic-paymentsJennifer R Glass
In the ever-changing world of electronic payments, it is quite difficult to understand what programs are available, how one can use them and how one knows they're getting the best deal. With this presentation, we hope to clarify the mysterious nature of the payment market so that you can understand what is available for you and your business.
This statement provides an overview of account activity for the period of 09/01/12 - 09/30/12. It shows a total of $524.02 was submitted in transactions, with $57.09 being third party transactions and $8.22 in chargebacks/reversals. After adjustments of -$3.14 and fees of -$8.19, the total amount processed was $447.38. The statement also includes breakdowns of transactions by card type, amounts submitted and processed by batch, as well as details of fees charged.
The document provides an overview of credit card processing and Advanced Merchant Group. It discusses why it is a good time to be in the processing industry due to rapid changes. It then summarizes Advanced Merchant Group's role in the transaction process, including underwriting merchant accounts and providing customer service.
Global Trends in Large Value Payment SystemsKimmo Soramaki
We discuss 10 main trends in the settlement of large-value interbank payments;
1. Diffusion of Real Time Gross Settlement
2. Take Off of Hybrid Systems
3. Emergence of Cross Border and Offshore Payment Systems
4. The Rise of CLS
5. Increasing Settlement Values and Volumes
6. Shrinking Average Payment Size
7. Falling Number of System Participants
8. Extended Operating Hours
9. Declining Transaction Fess
10. Adoption of Common Standards for LVPS
Payments: From a commodity to a fundamental driver of eCommerce successCheckout.com
The founder of Checkout.com, Guillaume Pousaz, spoke at eCommerce Expo 2015 on how data from online payments can help drive growth for online businesses. Checkout.com - Online Payments.
Understanding E-Commerce Pricing: The pros and cons of IC++Checkout.com
This document discusses Interchange++ (IC++) pricing models for e-commerce transactions. It explains that IC++ separates interchange fees, scheme fees, and acquirer premiums for more transparency. While complex, IC++ pricing allows merchants to understand costs for different card types and transactions. The document provides examples of how IC++ fees vary and outlines both pros of transparency and cons of complexity versus blended rates. It concludes that merchants should evaluate their needs and discuss IC++ pricing with acquirers and payment providers.
NARCA 2013 COMPLYING WITH ELECTRONIC BANKING POWERPOINTBrenda Majewski
This document summarizes a panel discussion on complying with electronic banking standards for law firms. The panelists discussed key concepts like the ACH, EFTs, and regulations like Regulation E. They emphasized the importance of having proper policies and procedures in place and being familiar with rules regarding client funds, electronic payments, notices and authorizations. Failure to comply could result in contractual or legal issues. The panel provided best practices around issues like check by phone authorizations, recurring payments, handling returned items and hold requests. Resources for further information were also shared.
Merchant acquirers face increasing challenges in the rapidly changing global payments landscape, but these challenges also bring new opportunities. The key functions of acquirers include signing up merchants to accept card payments, authorizing transactions, and facilitating clearing and settlement of funds between merchants and card issuers. Acquirers also provide dispute management and information services to merchants. Major challenges for acquirers include regulatory pressures, compliance issues for small merchants, threats from non-traditional players, and fraud; however, opportunities exist in developing new pricing strategies, technological investments, and multichannel acquiring.
The document provides an overview and agenda for a National Sales Agent training program. It aims to give agents a basic understanding of the payments industry, Leaders Merchant Services' products and services, pricing, selling strategies, and how to make money. It covers topics like the payments transaction process, fees involved, EMV, Durbin Amendment, PCI compliance, and Leaders' offerings like credit/debit card processing, gift cards, loyalty programs, and merchant cash advances. It emphasizes ethics in marketing and stresses developing prospects through referrals in order to generate sales.
Understanding B2B Payments- Explore Out the Payment Techniques and Their Key ...itio Innovex Pvt Ltv
By staying well-informed about these critical aspects and acquiring the top credit card processor, businesses can streamline their financial processes, enhance their cash flow, and maintain strong relationships with their trading partners.
To know more about this visit: https://webpays.com/credit-card-processing.html
Durbin + Debit: The Devil\'s in the DetailsJohnDStevens
The document discusses the changes to debit card fees and regulations that went into effect in October 2011 due to the Durbin Amendment. It outlines several questions merchants should ask their processors to ensure they are receiving the lower rates under the new regulations. Specifically, merchants need to verify they don't need to make any changes, see the savings clearly displayed in their reporting, and confirm discount pricing models are applying the new lower debit card rates. Transactions most likely to be affected are recurring and subscription-based models that rely heavily on debit card usage.
Merchant credit card processing statements can be difficult to understand, but understanding the players and fees involved provides clarity. The statement shows fees charged by the processor as well as interchange fees set by card associations and issuing banks. Processors incur expenses in providing merchant services that are passed to merchants through various fees, such as annual membership, terminal support, monthly minimums, per-transaction, and statement fees. Understanding your specific contract terms and asking your account representative about any unclear charges can help explain your monthly statement.
This document discusses interchange rates and provides information about how providing additional transaction data at the point of sale, such as at Level III, can result in lower interchange fees from payment networks. It notes that interchange fees make up a large portion of merchant processing costs and that providing more detailed data allows transactions to qualify for preferential interchange rates. It also cautions that some statement formats can obscure the true interchange rates being charged to merchants.
Payment processor fees, also known as merchant service fees, are the charges levied by the company providing credit card payment processing services to the merchant. Visit us at: https://webpays.com/best-credit-card-payment-companies.html
Accepting card payments means never turning away a customer again. However, too many small business owners are missing out because they don't know where to get started. This free guide explains all you need to know to get going with card payments for your business.
Credit card processing what is it and how does it workhighrisk gateways
Credit Card Processing What is it And How does it Work
https://www.highriskgateways.in/credit-card-processing-what-is-it-and-how-does-it-work/
Nowadays, it is especially true that most customers prefer to pay via debit and credit cards. So, it’s imperative to understand the concept of credit card processing. Keep reading to know…what credit card processing is? How does it work? And why it is necessary for your business?
It's easy to get overwhelmed or lost when navigating the world of top credit card processors and credit card processing. Why? Credit card processing can be a complex system with an even more complicated set of terms. Visit us at: https://webpays.com/credit-card-processing.html
Merchant Acquirer vs Payment Processor The Similarities and the Differencesitio Innovex Pvt Ltv
In the world of electronic payments, two crucial players emerge: the Merchant Acquirer and the Payment Processor. However, most merchants get confused with each other due to the very close nature of their work.
To know more about this, visit: https://webpays.com/payment-processing-companies.html
Credit card fees can be complex, but it is important for merchants to understand them. Fees include processing fees of around 2% of each purchase paid to merchant service providers. Processing fees vary across credit card networks from 1.43-2.4% for Visa to 1.55-2.6% for Mastercard. Interchange fees, which are collected by issuers, also influence overall costs and are impacted by factors like card type, payment method, and transaction volume. Carefully choosing a merchant services provider with competitive rates can help reduce unnecessary business expenses from credit card acceptance.
Everything You Need to Know About Taking PlasticBusiness.com
Consumers are so used to the convenience of credit and debit cards that it's no longer an option for a merchant to take plastic -- it's a necessity. Consumers expect to be able to use plastic to pay for everything, even small items. From their point of view, that's the end of the transaction but it's a whole different story for the merchant.
From credit card readers to securing the networks to transmitting information to the bank, there are multiple steps that must happen before the money is finally deposited into the merchant's account.
The document discusses the future of payments in the 21st century and how new technologies and business models are disrupting traditional payment systems. It analyzes trends like real-time payments, use of unique identifiers like phone numbers and emails, push-based systems like PayPal versus pull-based card networks, improved security and fraud controls, lower processing costs, and the transition away from paper checks and plastic cards to digital and mobile-based payments. PayPal is highlighted as an example of a company leveraging these 21st century innovations to build a highly successful new payments platform.
The document discusses interchange fees, which are paid to credit card issuers for cards processed by merchants each month. It explains that interchange fees, along with association fees paid to credit card networks and discount fees paid to processors, make up the various fees deducted from merchant statements. The majority of these fees are interchange fees, which are set by credit card networks and non-negotiable for merchants. The document provides examples of interchange and association fees for Visa, MasterCard and Discover transactions.
Software for Payment Cards: Choosing WiselyCognizant
As the use of card-based payments continues to grow, financial institutions must improve their response times, strengthen their security, hone their future-readiness and enrich their business value. When selecting a commercial off-the-shelf (COTS) solution, banks must verify that the product and its support services are equipped to accommodate short and long-term business and IT objectives.
While the convenience and speed of card payments are undeniable, merchants must navigate a complex web of credit card payment processing fees and rates. Visit us at: https://webpays.com/best-credit-card-payment-companies.html
Acemerchant Processing is your first choice for merchant processing services, programs and equipment for retailing, restaurant operations, service providers, hotel and lodging businesses, Internet e-commerce marketers, mail order and phone order businesses, and the many business to business merchants who supply and support the industry and the consumer.
The document provides an overview of the credit/debit card transaction process in 7 steps: 1) initiation by the customer, 2) routing to the merchant bank and processor, 3) submission to the credit card interchange, 4) validation by the credit card issuer, 5) review of results, 6) processing by the merchant, and 7) completion with funds transfer. It explains the entities involved including the customer, merchant, merchant bank, payment gateway, and credit card issuer. The goal is to educate about how payment systems work for credit and debit cards.
Guide to Understanding Credit Card Processing for MerchantsChloeBeckham
How important are credit card sales to your business's growth? Our credit card processing guide will help you understand how to accept credit cards and what to look for in a credit card processor.
Guide to Understanding Credit Card Processing for Merchants
Cost Reduction for Your Small Biz
1. Merchants Against Unfair Interchange Practices ~ Call To Action ~ The Credit Card Act of 2009 protects consumers, BUT NOT MERCHANTS , from unfair interchange practices of banks and processors.
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4. Unregulated Interchange fees are imposed by credit card companies and issuing banks under the pretense of processing credit and debit card transactions. However, these fees have tripled in the United States since 2001, to $48 billion in 2008, despite advances in technology that have reduced other comparable transactional costs. Today, for most retailers, the cost of processing paper checks is less than the cost of accepting credit and debit cards.
5. For one example of how Interchange functions, imagine a consumer making a $100 purchase with a credit card. For that $100 item, the retailer would get approximately $98. The remaining $2, known as the merchant discount and fees , gets divided up. About $1.75 would go to the card issuing bank (defined as interchange), $0.18 would go to Visa or MasterCard association (defined as assessments), and the remaining $0.07 would go to the retailer's merchant account provider.
6. Visa/MasterCard apply over 200 Interchange categories based on type of card, business nature, transaction type, card issuer, and many more. Every April and October the Visa/MasterCard associations re-adjust all or some of these 200 Interchange categories and these new interchange rates will strike each merchant and transaction in a different range according to the category.
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8. Processors don’t take the time to watch: Interchange Rules Compliance Merchant ID Categories Back-end Acquirer Card Associations Issuing Banks … and more We optimize Interchange through the ‘ Programmable Tier’… Typically 8-20% Cost Reduction
9. But What About “Interchange Plus”? Interchange Pass-Through can be completely transparent * Interchange Wholesales + 2 bits for the processor *** They ‘Set it and forget it’ But … Who’s Optimizing the 200+ Interchange Categories?