Interchange updated for Visa and Mastercard

Merchants may have noticed on their statements a notification stating that the card associations were adjusting their rates. 


For merchants processing with Connected Pay's interchange plus pricing, in general their rates will not be affected.  Connected Pay's merchant base interchange fees were unchanged from the October 2009 rates.  


Interchange Rates:
Visa - http://usa.visa.com/merchants/operations/interchange_rates.html
MasterCard - http://www.mastercard.com/us/merchant/support/interchange_rates.html




Many card providers offering a tiered structure (Qualified, Mid Qualified, Non Qualified) use the card association adjustment to increase possessing fees.  Merchants with a tiered pricing structure should consider negotiating with their current processor to get to an interchange plus structure, such as the one Connected Pay offers.

For more information on Connected Pay click on the links below:

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Good News for Small Ticket Merchants

There is big news for merchants that process large volumes of small dollar transactions. Interchange rates are set by the big names in the credit card industry (Visa, Mastercard, etc.). These rates are the largest component of fees paid by merchants who accept credit cards. Effective October 2010, most merchants will be eligible to qualify for CPS/Small Ticket program if the majority of their transactions are under $15. This will result in a decrease of interchange fees paid. The new rates will be 1.65% + $0.04 for credit transactions and 1.55% + $0.04 for debit transactions. There is an increase in the percentage and a decrease in the cents per transactions. If a merchant tends to have a high volume of small dollar transactions, Connected Pay recommends increasing the percentage per transaction and lowering the cents per transaction. This announcement by Visa is exciting news for Small Ticket merchants. 

Wireless Credit Card Acceptance

Connected Pay's goal is to keep our clients up-to-date and competitive with payment solutions, to help our clients' customers make hassle free, secure online payments and to provide top client service.


Our newest product offering, the Way5000, from Way Systems.  This wireless unit looks like the old Nokia phones that were popular back in 2003.  Its simple design and easy to use features make it a popular product for mobile merchants who sell their goods while out and about.  Wireless credit card processing is growing in popularity with service providers who perform services at a client site.  Examples include plumbers, landscape contractors, car detailers, HVAC contractors, and small contractors.  

For those individuals that desire to process cards on their smart phone, Connected Pay's gateway partnership works with Porcess Away.  These product offerings are Connected Pay's commitment to keep our client's up-to-date with technology and to provide payment flexibility for our clients' customers.

As a one stop shop for credit card processing, Connected Pay offers a customized virtual terminal interface, merchant accounts and gateway services. We have done the research so you don't have to.  

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