Business Cents: The hidden value of an Optimized Credit Card solution

October 2014 brings new credit card processing rates!

Non-Level III rates are going up .5% and Level III is going down .10%.

The rest of the story: If you have the ability to pass Level III data on a Level III corporate card to your credit card processor, you will be able to take full advantage of this savings.  If you are running a Gateway such as ICVERIFY that is not level III-enabled, all your transactions will process at higher rates, including the Level III corporate cards.

As long as you have been accepting credit cards you have been asking the same question:  How are these credit card fees calculated? Every time your customers pay you with a credit card, everyone gets a scrape of your money. The higher the liability, the higher the percent and points charged.  With the increase of rates put in place by Visa this month, we thought it would be a good topic to discuss.

Below are the new Visa rates that went into effect October 17, 2014.  Of course, these rates are subject to change as dictated by the card companies, but here is a set of “rate adjustments” recently put in place by Visa:

As you can see, almost all rates for non-Level III card transactions are increasing. That means more money going into the pockets of credit card companies instead of yours on the sale of your goods and services.

There has never been a better time to adopt an optimized Level III solution like integraSoft + CenPOS; Imagine saving $1 on every $1,000 processed.  That’s $1,000 saved on every $1,000,000 processed. Money back in your pocket is a sign of efficient business, promoting future growth.

Level III transactions involve an added level of authentication when processed electronically, as it requires more data on a per-transaction basis. integraSoft’s new CenPOS credit card solution enables these Level III transactions as a viable means of doing better, more efficient business.

Make sure you are passing the correct data that gives you the lowest Pay Card Interchange Fee possible!  If you have any questions, give us a call to discuss.

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