Interchange Plus pricing or Blended pricing ? These are the 2 options for card acquirers when setting the basis of customers’ pricing. Is there a material difference? Does it matter to card accepting businesses or is it all just industry “technobabble” … Continued
Merchant reaction, from those we’ve spoken with, to the WorldPay fee increases on Visa debit seems to be one of “outrage” as their costs have increased by significantly more than the interchange increases. It seems the first of the fee increase … Continued
WorldPay has recently informed their customers of their latest merchant services price increases. In a letter/email (click here) they advise customers that the “majority will see an increase in their costs of accepting Visa debit cards”. WorldPay is the largest merchant services … Continued
2015 is set to be the most volatile year to date for card processing fees, the year that the EU cap on interchange fee takes affect in the UK.
There is now an emerging plethora of payment methods that businesses need to consider. Its no longer a question of offering your customers cash, cheque or card and as mobile payments gain traction the options are only going to increase. … Continued
A typical credit card transaction costs an SME business 81.5p to process and 14p for a debit card. How is this fee split between the card schemes, the card processor and the banks issuing the cards ? Who takes the … Continued
Where did your business go for its card processing facilities ? If you’ve been taking cards for years and never switched then its odds on you went to your own bank. Nowadays, savvy business owners are shunning the high street … Continued
Global Payments customers will have received a letter in July outlining the latest rate increases that will hit them as of 1 October. These latest increases will see the amount of Visa and Mastercard scheme fees passed onto customers increase by … Continued
Your monthly merchant account statement tells you how much cards you have accepted, what kind of cards and how much your merchant acquirer is charging. But do you really understand the total cost of each transaction and the “extras” that come with a merchant account?
It matters because interchange is your acquiring bank’s biggest cost and will be passed onto you through your transaction charges, otherwise known as your merchant service charge (“MSC”) . It is payable by
