What are 3 things you MUST Know about Credit Card Processing?
As complicated as the credit card processing industry can be, there are only 3 things you REALLY need to know. #1 Understand The Rates There are 500+ tiers of pricing when you combine all credit/debit card types. It is important to familiarize yourself not only with the pricing but also how the pricing relates to your specific business Card pricing rates vary based on card type and how the cards are processed. Take some time getting to know both VISA INTERCHANGE and MASTERCARD INTERCHANGE rates. Remember that Interchange is the cost before any markups and before the costs or markups associated with capturing, authorizing, and settling each transaction, essentially the “wholesale” cost. When you have a great understanding of the various card types and the actual costs, you