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Cool thanks for the info. So I assume you guys were mostly doing <$10 payments to favor the variable pricing? What kind of industry was your employer in? About
by IkmoIkmo 12y ago
Cool thanks for the info. So I assume you guys were mostly doing <$10 payments to favor the variable pricing? What kind of industry was your employer in?
About the qualified cards, what does that mean and how can that be arbitrary? Thanks!
- sarciszewski 12y agoHe sold textbooks and lab materials to middle school teachers; teachers were reimbursed by the State after attending a workshop he ran every weekend. Most orders were in excess of $100. $100 * 0.10% + $0.30 = $0.40 $100 * 2.90% = $2.90 The trick is, if you don't know to ask for IPP, you get the 2.9% (but some orders will be as low as 1.9%) rate. If you do ask, you can opt for $0.30 + 0.10%. http://www.cardfellow.com/blog/interchange-plus-pricing/ http://www.cardfellow.com/blog/interchange-plus-pricing/ http://www.interchangeplussolutions.com/interchange/interchange-plus-vs-three-tier/ http://www.interchangeplussolutions.com/interchange/intercha... I don't know what sort of behind-the-curtain negotiation it required to get the rates he got, but whether or not it saves you $ depends on your average transaction and expected sales volume. Using my numbers, if your transactions are normally below $11, you'll probably benefit more from the standard three tier.