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Tuesday, April 27, 2010

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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