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 […]
As if there is not enough controversy over Interchange Rates charged to merchants, we now have to deal with consumer credit cards interest rates increasing drastically without notice. Some consumer spending experts say this may hinder spending even more this holiday season. What is our government doing to fix the issue? Federal regulators jumped into action and […]
It seems as though anytime a company gets large enough, there will always be people who feel it is unfair and begin to wage war on what they don’t know. I have talked about Visa and MasterCard having to pay large settlements to Discover after a long anti-trust battle. Although Visa lost that battle, the war on […]
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 […]
