You may find this hard to believe, but you can easily reduce your current processing rates by .65% and more by working with a payment processing specialist who has an understanding of Proper Interchange Qualification and Level 2 Processing. With all the normal stress and pressure that comes along with doing business Kamagra Gold in our current economy, reviewing a monthly merchant statement is one of the last things that most companies have time to do. As you are reading this article, I would ask that you take just a moment to grab one of your recent statements, so prescription cialis online that you can reference it to see if your company is currently receiving the rates you deserve.

Now when looking at your statement, it is not uncommon to become frustrated or confused as to how your overall processing fee was calculated for that month. Some processors print more detailed statements that may include charts or graphs, while others send out a condensed less detailed version of only a single page. While a less detailed statement is an issue in itself, for the purpose of this article I want you to focus on a few specific keywords. While it may vary as to where on your statement these can be found, the words themselves are universal and apply to all payment processors. So please look over your statement very carefully and take note of any of the following downgrades or surcharges listed:

– Mid-Qualified “Mid-Qual”
– Non-Qualified “Non-Qual”
– NSQF
– EIRF
– Standard
– Commercial Electronic
– Corporate Data Rate 1
– Keyed Transaction

These keywords refer to transaction downgrades and additional surcharges that are being added in addition to your “base” rate. What that effectively means is that a transaction is processed at a significantly higher rate than what it should have been. An example would be a Visa Business card that should be processed at the Level 2 rate of only 2.10%. Now if your current merchant account is not setup properly to accept Level 2 processing, that same card will be downgraded to Visa Commercial Standard which carries a much higher rate of 2.75%. That is a difference of .65%.

Another example is when a merchant account is setup on a “Multi-Tiered” or “Bill-Back” processing structure, which includes Mid-Qualified and Non-Qualified categories. Many times these rates can be as much as 2-3% higher causing processing fees to be more than doubled. This eliminates a very significant portion of that transactions actual profit margin.

The obvious next question is how to properly structure your merchant account to avoid these unneeded additional fees. The answer is very simple and lies in the following two processing methods that all of the largest retail giants in the world take full advantage of.

1.Interchange Pass-Through – A processing program that until recently was only provided to Fortune 500 companies. When set up on interchange pass through, your processor will pass through every credit card and transaction type at its associated interchange rate. Interchange is its preset base cost by Visa, MC and Discover. A minimal flat processing fee is then added on top across the board.

2.Level 2 Processing – Level II processing will automatically save you between .35% to .65% on every corporate, business, purchasing and government cards that you accept. Many even within the payments industry are unaware commercial cards have the ability to qualify at a preferred Commercial cialis buy online Data Rate 2.

Acceptance of credit cards has become a requirement in today’s business world in order to compete and ensure that you’re not losing sales due to lack of payment alternatives. The major hurdle that merchants face is achieving the piece of mind of knowing they are receiving the lowest possible rates and fees. So with that mind set, I strongly encourage you to take the time to review your current

set up. Don’t just take the word of your current processor as gospel truth. Probably only 10% of people selling payment processing services have a true understanding of proper interchange rate qualification. It’s a scary thought but anyone today can sell payment processing services due to lack of regulation within our industry.

Warehouse clubs, internet companies, wireless providers and POS companies are really commercializing the payment industry with no idea how to properly setup a merchant account. This is why it is so very important to choose your merchant services provider carefully.

Remember, the payment industry would not exist without businesses such as your own. You have the right to know what your paying and why. I invite you to visit our website www.tailoredtransactions.com and look over our industry specific merchant processing solutions. We tailor our services according to your business and industry type and utilize all of the preferred pricing programs that are available from Visa, MC and Discover.

Author Bio: Brooks Rohrer is President of Tailored Transactions LLC. and owns the website www.tailoredtransactions.com. Tailored Transactions is a merchant services provider which offers specialized merchant solutions for credit card processing, check processing, cash advances and a gift & loyalty card program.

Category: Business
Keywords: merchant services, credit card processing, merchant account, accept credit cards, cash advance