- Nov. 6, 2013
-- Getting affordable credit card processing rates for your small business doesn’t have to be hard. Setting up a merchant account with ignite payments is as easy as it gets. We only give the best services possible to businesses applying for merchant services. With very low credit card processing rates. as low as .20 % over inter change pass-through that’s the buy rate from visa mastercard discover. What this means for you is that you will pay a over all rate of around 1.6 to 2.0%. That’s not to be mistaken with the qualified or mid and non. This is the over all rate including all fees. Where most service providers are charging that much to take the most common cards such as debit and reward cards. We have no qualified rate or mid or non. You simply pay the interchange rate set by visa master card and the banks plus a small mark up. The interchange rate set by the banks are the same for every business large and small and it is impossible to receive a discount or be over charged and every business has to pay these fee’s. The area that effects merchants is the processors mark up we charge .20% to .35% pending on the processing volume. It is a much easier system to understand and you know how much we are making in profit with a few strokes of a calculator. Example a merchant processing 10,000.00 dollars a month would be charged 20.00 to 35.00 dollars in markup and as far as the rest of the fee’s the merchant pay’s. You would have had to pay them with every processor or service provider regardless of account type. So if you are set up on a three tier system a multi tier system or interchange pass through these fee’s would have to paid no matter what. So whats the difference the price and the ability to know what we make from your business on your merchant service account. It’s honest and reasonable for the merchant and the credit card processing provider. This also allows merchant to make very simple comparisons to know if they are getting the best rate. So when you review your merchant account once a year or so you know what we made in profit so you will be able to tell if the sales rep reviewing the account is blowing smoke or simply don’t know what he or she is doing. Example if the mark up from the for mentioned example is 35 dollars and the person reviewing the account says i can save you a 100 dollars you would know its not possible. I hope this article gives you an a good look at the differences between us and our competitors.