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Visa & Mastercard Transaction Rates & Fees
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Retail Rates (Card-Swiped)
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Equipment Cost
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Free
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Application & Set-Up Fee
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Free
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Discount Rate
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1.79%
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Per Transaction Fee
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0.25 ˘
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Monthly Statement Fee
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$ 10.00
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Monthly Minimum
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$ 25.00
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Funds Availability
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48 Hours
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Internet, Mail, Phone, Fax Orders
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Software Cost
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Free
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Application & Set-Up Fee
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Free
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Discount Rate
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2.35%
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Per Transaction Fee
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0.30 ˘
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Monthly Statement Fee
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$ 10.00
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Monthly Minimum
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$ 25.00
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Monthly Gateway Fee
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$ 20.00
+ .05˘ Trans.
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Understanding your merchant provider’s rates and fees
Mail Order/Telephone Order / Internet (MO/TO) - Transactions initiated by the customer using the mail, telephone, or online credit card processing rather than through retail terminals or over the Internet.
Swipe discount rate - The discount rate charged by a merchant account provider for transactions in which a credit card is available for inspection by the merchant. Swipe discount rates are generally lower than merchant account provider discount rates because the merchant can match signatures and perform other checks for fraud or misuse.
Discount rate - This is the percentage of the total transaction amount that the bank will usually deduct prior to transferring your deposit into your bank account. A higher rate may be charged on online credit card processing individual transactions if the transaction doesn't conform to certain qualifications, as described by your bank or merchant provider.
For instance, accepting a "Visa Business Card" merchant account service credit card or foreign card may cost you 1-2% more than regular transactions. The reasons for these non-qualified transaction surcharges and complete details on all transaction qualifications should be discussed with your bank or merchant account provider. Address Verification (AVS) may also fall into this category when not used properly.
Transaction fee - A charge for each credit card transaction. Transaction fees usually fall between $0.25 and $1.00 each.
Monthly Minimum - The minimum monthly charge a merchant must pay in Discount Rate fees. If the merchant's sales for the month result in his paying Discount Rate fees greater than or equal to the agreed minimum monthly amount, no further fee is involved.
However, if the merchant account service merchant's sales for the month result in his paying Discount Rate fees online credit card processing less than the agreed minimum monthly amount, the merchant must pay the deficiency.
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