Search My Merchant Account Blog

Search this Blog:

Lower Discount Rates

Friday, June 01, 2007

Since April, changes have been made to the way that Visa and MasterCard charge a merchant.  You probably have seen this reflected on your merchant account statement.  You might see more mid-qualified or non-qualified transactions.  Or you might see merchant account providers offering a low discount rate. 

However, these discount rates come with a qualification.  You might need to have a minimum of $50,000 a month in volume to have a low(er) rate.  Or the advertised rate might be the keyed rate for debit cards.  And you will have another rate for credit cards.  Or you might have a higher rate for non-qualified transactions. 

Before you agree to anything, the prices should be listed on the contract that you sign.  If not, don't agree to anything. You can read more about merchant account agreements and looking for a cheaper merchant account provider.

Comments

Kate said...

My friend always says, read carefully the fine print in credit card applications! I think, it is a good piece of advice!

11/21/2007

Name
URL
Email	Email address is not published
Access Code
Please enter the access code
Remember Me
Comments