Markup Fees
| Existing Rates | |||
|---|---|---|---|
| Pass Through Wholesale Fees | Cost | ||
| Interchange, Dues, Assessments | |||
| Total: | |||
| Markup Discount Rate | Volume | Rate | Cost |
| Credit/Debit (Visa/MC/Disc) | $ | % | |
| Credit/Debit (AmEx) | $ | % | |
| Pin Debit | |||
| Padded Interchange Hidden Fee | |||
| Access Fee | $ | % | |
| Other volume fee | $ | % | |
| Miscellaneous Fee | $ | % | |
| Total: | $0.00 | ||
| Markup Transactions Rate | # of Transactions | Authorization Fee | Cost |
| VS/MC/DS | ? | ||
| AMEX | ? | ||
| Pin Debit | ? | ||
| EBT | ? | ||
| Padded Interchange Hidden Fee | |||
| Sales Transaction Fee | ? | ||
| Other item fee | ? | ||
| Miscellaneous Transaction Fee | ? | ||
| Total: | $0.00 | ||
| Monthly Fee | Cost | ||
| Monthly Service Fee | |||
| Monthly Statement Fee | |||
| Monthly Breach Insurance Fee | |||
| Monthly Data Protection Fee | |||
| Monthly PCI Fee | |||
| Monthly Non PCI Fee | |||
| Monthly Online Reporting Fee | |||
| Monthly Wireless Access Fee | |||
| Monthly Account on File Fee | |||
| Monthly Regulatory Fee | |||
| Monthly Minimum Fee | |||
| Batch Settlement Fee | # of Batch | Rate | |
| Miscellaneous Fee | |||
| Total: | $0.00 | ||
| Per Occurrence Fee | Cost | ||
| Chargeback Fee | |||
| Retrieval Fee | |||
| AVS Fee | |||
| Voice Authorization Fee | |||
| ACH Reject Fee | |||
| ARU Fee | |||
| Pre Arbitration Fee | |||
| Tin Invalid Fee | |||
| Per Return Item | |||
| Miscellaneous Fee | |||
| Annual Fees | Cost | ||
| Annual Fee | |||
| Annual PCI | |||
| Annual Terminal Fee | |||
| Semi Annual Fee | |||
| One Time Fees | Cost | ||
| Application Fee | |||
| Set up Fee | |||
| Early Termination Fee | |||
| Equipment Fees | Transaction Fee | # of Transactions | Cost |
| Terminal | |||
| POS Hardware | |||
| POS Software/Monthly | |||
| SwipeCard247 Rates | ||
|---|---|---|
| Cost | ||
| Total: | ||
| Volume | Rate | Cost |
| $ | 0.03% | |
| $ | 0.03% | |
| $ | 0.02% | |
| $ | 0.00% | |
| $ | 0.00% | |
| $ | 0.00% | |
| Total: | $0.00 | |
| # of Transactions | Authorization Fee | Cost |
| $0.03 | ||
| $0.03 | ||
| $0.06 | ||
| $0.06 | ||
| $0.00 | ||
| $0.00 | ||
| $0.00 | ||
| Total: | $0.00 | |
| Cost | ||
| # of Batch | Rate: 0.00 | $0.00 |
| Total: | $25.00 | |
| Cost | ||
| $12.50 | ||
| $12.50 | ||
| $0.02 | ||
| $0.55 | ||
| $15.00 | ||
| $0.00 | ||
| $0.00 | ||
| $0.00 | ||
| $0.03 | ||
| $0.00 | ||
| Cost | ||
| $100.00 | ||
| $0.00 | ||
| $0.00 | ||
| $0.00 | ||
| Cost | ||
| $0.00 | ||
| $0.00 | ||
| $0.00 | ||
| Transaction Fee | # of Transactions | Cost |
| $0.00 | ||
| $0.00 | ||
| $29.00 | ||
When a card is Swipe, there are 2 types of fees involves.
Assessment Fees + Interchange Fees = Wholesale Fees
Wholesale Fees + Markup Fees = Total Processing Fee
Wholesale Fees + Markup Fees = Total Processing Fee
WHOLESALE FEES
Not negotiable. Don’t. Even. Try. It
MARKUP FEES
These fees are negotiable.
- Fees set by issuing banks and the credit card networks
- Regardless of which processor you use, these fees are NON-NEGOTIABLE! No processing company can lower it down and they have to charge these fees.
- Processing Companies nor agents makes any money from these fees.
- Fees set by your payment processor, plus any other add-on equipment or software providers such as a payment gateway provider
- Are negotiable – We have negotiated the LOWEST RATES for YOU! That is why we are not afraid to show you the full pricing which you won’t see with other payment providers.
- Assessment fee is the fee set by the credit card networks. (Visa, Mastercard, Discover and American Express)
- Interchange fees are the fees set by the issuing bank. (all the banks in US)
- Total Wholesale Fees or also called as Interchange fee is set by issuing banks and the credit card networks
- Regardless of which processor you use, these fees are NON-NEGOTIABLE!
- Processing company cannot lower interchange fee plus they have to charge these fees.
- Processing Companies nor agents makes any money from these fees.
- There are actually about 300 individual interchange fees composing the "single" interchange fee you actually pay.
- Assessment Fees
- Assessment fees are determined by the card brand/network and not your payment processors. These fees cover the operating costs of credit card networks.
- Assessment fee is lower than the interchange fee, and it depends on various factors, including the type of card used by the cardholder, the transaction volume, and incidental fees like the costs that come with processing foreign transactions.
- Interchange Fees
- Merchant pays discount rate and transaction fees to the processing company. One reason it’s so hard to predict the credit card fees merchant will have to pay is that interchange fees aren’t static.
- Mastercard and Visa adjust/increase their rates twice a year. Interchange fees aren’t small, either. They usually account for between 70% and 90% of the total amount merchants have to pay the processing company.
- Since interchange fee aren’t static and there are over 300+ interchange fees based on different card type, processing type, merchant categories code, and credit card network merchant pays different processing fees every month and there is no way anyone can predict certain fix percentage merchant will pay in fees.
- Credit Card Network (Visa, MC, Discover, AmEx) – all charge different amounts for their interchange rate.
- Credit Card Type
- Credit Card or Debit Card
- Regular Credit Card
- Business Credit Card
- Rewards Credit Card
- Travel Credit Card
- Among all credit cards the rates will differ based on what type of card your merchant has.
- Processing Type
- Swiped VS Keyed
- Swiping the card tends to be the cheapest.
- Merchant Category Code
- The rate depends on your category of business, a restaurant will be charge differently than motel which will be charge different than supermarket.
- Marked Up Discount Rate – this represents the markup of your processor the fee they add on top of the mandatory interchange rate.
- Marked Up Transaction/Authorization Fees - charged each time a credit card is swipe or keyed.
- Monthly Fees – Every merchant pays monthly fees. This fee starts as soon as you get Approved. You still pay monthly fees doesn’t matter you process or not.
- Per Occurrence Fee – these fees are charge when a particular transaction or situation happen
- Annual Fee – Once a year merchant pays annual fee.
- Avoidable Fees
- Early Termination Fee – this fee is charged when you need to cancel a contract early, the early termination fee (or ETF) is a way for the credit card processing company to help recoup the costs they faced in setting your account up
- Hidden Fees – These are the fees padded into wholesale fees and mark up fees. (Access Fee, Other Item Fee, Other Volume Fee, Sales Transaction Fee and etc.)
- Monthly Minimum Fee - These are fees charged to merchants who do not reach a certain transaction total for the month
- Terminal Leased Fee – never lease or buy your credit card terminal
- IRS Reporting Fee – some processors charge merchant when they have to report to IRS.
- Padded Interchange/Assessment Fees – when signing up with the processor be sure you are on a true pass-through model when interchange and assessment are not padded.
- Interchange Refunds - When you refund a transaction, will the processor return the fees you originally paid? In some cases, the processor keeps those fees. That means lost revenue for you. After all, you refunded the customer’s entire transaction amount but paid fees on the transaction. If you don’t get those back, you’re losing money.
- EBT Transaction Fee - SwipeCard247 simply charges $0.06/EBT sale. Since EBT is provided by the Federal government, there are no underlying interchange fees, card association fees, or anything else of that nature. An EBT sale will only cost your organization six cents, every time, under all circumstances.
Average Credit Card Interchange and
Assessment fees = Wholesale Fees
| Payment Network | Average Interchange Fees | Assessment Fee |
|---|---|---|
| Visa | 1.15% + $0.05 to 2.40% + $0.10 | 0.14% |
| Mastercard | 1.15% + $0.05 to 2.50% + $0.10 | Transactions under $1,000: 0.1375%; $1,000 or more: 0.01% |
| Discover | 1.40% + $0.05 to 2.40% + $0.10 | 0.13% |
| American Express | 1.43% + $0.10 to 3.15% + $0.10 | 0.15% |
Note : Above rates are only for swipe transactions.
Swipe vs Keyed Transaction Rates.
4 Types of Markup Pricing Models
| Interchange-Plus | Flat Rate | Subscription | Tiered |
|---|---|---|---|
| Wholesale & markup fees are separate | Wholesale & markup fees are blended | Wholesale & markup fees are separate | Wholesale & markup fees are blended |
| Markup is a % and per-transaction fee | All transactions cost the same, regardless of type and processor | Markup is a per-transaction fee plus a flat-rate monthly service fee | Rates vary according to whether the transaction meets certain qualifications |
| Best for: All businesses | SCAM : Stay away! | SCAM : Stay away! | SCAM : Stay away! |
