No need to be an expert in merchant services, call us!

Sep 15, 2021

It is next to impossible to become an expert on the payment processing ecosystem. What is important is for a business owner to understand the rates, fees, assessment and monthly charges associated with a merchant account. Fortunately, this is actually very simple when you work with Merchant Processing Solutions Inc! 

The Card Network: BRANDS (Visa/MasterCard/Discover/American Express) determine "Interchange" it is the universal cost all businesses must pay in order to accept credit card payments. Interchange is set by the card networks (BRANDS) and interchange rates are always made public and can be found online. The reason Interchange is so hard to understand is that each had BRAND issues hundreds of different rates between the various cards networks and issuing banks (DEBIT/CREDIT/REWARDS/POINTS/BUSINESS).  The good news is virtually every business pays the same interchange and there is no n egotiating interchange! 

In order for a customer to get a credit card, they must work with an entity that has a relationship with one of the BRANDS (Visa/Mastercard/Discover/American Express):

Each of the above examples of credit cards leads to confusion due to their negociated BRANDS Interchange Rates & assessment fees, merchant processing fees and merchant platform transaction fees.  So, if every merchant pays the same fees for interchange and association dues, why are merchant processing fees so different? Its because each of the above mentioned cards were negociated at different Interchange Rates 

Merchant processing is a necessary evil that ALL BUSINESSES need to deal with. Knowing which of these pricing methods makes most sense for your business like: 

Merchant Processing Solutions Inc954-938-2420

By Merchant Processing Solutions 21 Feb, 2024
By Merchant Processing Solutions 11 Feb, 2024
Merchant processing industry continues to undergo significant transformations in today’s rapidly evolving digital landscape. In 2024, both businesses and consumers will experience new trends that promise to make payments more secure, efficient, and convenient. Understanding these new trends will help you increase revenue while maintaining secure, effectient and convenient forms of payment connections for your customers!

By Merchant Processing Solutions 23 Jan, 2024
Visa / MasterCard Interchange Fee Settlement Recovery.The lawsuit is about claims that merchants paid excessive fees to accept Visa and Mastercard cards because Visa and Mastercard, individually, and together with their respective member banks, violated the antitrust laws.The settlement creates the following Rule 23(b)(3) Settlement Class: All persons, businesses, and other entities that have accepted any Visa-Branded Cards and/or Mastercard-Branded Cards in the United States at any time from January 1, 2004 to January 25, 2019, except that the Rule 23(b)(3) Settlement Class shall not include (a) the Dismissed Plaintiffs, (b) the United States government, (c) the named Defendants in this Action or their directors, officers, or members of their families, or (d) financial institutions that have issued Visa-Branded Cards or Mastercard-Branded Cards or acquired Visa-Branded Card transactions or Mastercard- Branded Card transactions at any time from January 1, 2004 to January 25, 2019. The Dismissed Plaintiffs are plaintiffs that previously settled and dismissed their own lawsuit against a Defendant, and entities related to those plaintiffs. If you are uncertain about whether you may be a Dismissed Plaintiff, you should call 1-800-625-6440 or view the list of Dismissed Plaintiffs for more information.The Notice has important information for merchants that accepted Visa and Mastercard from January 1, 2004 through January 25, 2019. It explains the settlement in a class action lawsuit. It also explains your rights and options in this case. The court also issued a “Notice of Exclusion” to the Dismissed Plaintiffs and an additional notice to those merchants explaining their right to file claims.Click Here to Submit a ClaimNeed for information? Please give us a call! 954-938-2420Merchant Processing Solutions Inc.Please Call Merchant Processing Solutions Inc. @ 954-938-2420
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