Interchange are the rates that are set by Visa, MasterCard, and Discover for processing payments by credit cards. Interchange-Plus pricing works by adding a constant, flat margin on top of Interchange rates. Interchange-Plus is the definitely the fairest pricing available to merchants. Why? If you can’t see how much transactions cost your provider, you can’t know what they’re charging you.
The merchant services industry has developed a negative reputation because they haven’t been playing fair – the pricing has included egregious fees, confusing pricing, and a predatory mindset.
OC Merchant Solutions was founded on the premise Fair Pricing and Honest Practices. We want our clients know how we are making money, we want them to understand what they are paying and why.
With Interchange-Plus, merchants are given complete transparency in what is being paid not only your merchant services provider, but to the card-issuing banks, and the card associations as well. Offering a fair pricing model lets our merchants know what to expect all the time.
Typically, Interchange-Plus pricing models will include two different components in addition to Interchange – a percentage fee and a per-transaction fee. This allows merchant service providers to price their accounts fairly, because merchants who process at higher volumes will pay more fees, but only proportionately so. The same goes for smaller merchants. By offering a constant margin, smaller merchants are not penalized for processing minimal amounts.
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