Are Credit Card the Same? Not all credit cards are the same. No I don’t mean they are different colors, or have different designs on them. Different card issuers have cards types of cards. So how do people know they are picking the right credit card? There are cards that have rewards programs, cards with […]
Interchange Rates and Merchant Accounts If we have learned anything over the last year, it is that no industry is immune from the financial crisis. Your first line of defense against the economy is your job. The second is your credit cards. Credit cards have forced a whole new financial difficulty on our country. In […]
I have discussed in previous posts new Interchange category rate changes that most business owners have most likely seen notifications about on their statements. Most of these notices say “Increase” and these increases are being passed on the merchant. Not all Interchange categories have experienced increases – the main changes have been in the Business, […]
Most merchants have likely seen a disclaimer on their monthly credit card processing statements about an upcoming increase in Interchange rates. The card associations (Visa and MasterCard) have announced some significant changes. As you are probably aware there are hundreds of different categories. During April and October, rates in some categories are increased or decreased, […]
Interchange Rates There are many third-party processors out there that benefit when the Bank Card Associations, Visa and MasterCard, raise their rates. They look at this as an opportunity to make an additional profit from their merchants. Merchant services providers get to decide how they will pass the various increases and decreases through to the […]
