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CPS is an acronym associated with some Visa interchange categories. It stands for Custom Payment Service.
In a nutshell, Visa’s CPS allows a business to qualify transactions to an interchange category with a lower rate by following a set of rules.
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Wells Fargo Merchant Services slips an opaque “Interchange Clearing Fee” into its interchange-plus pricing, adding more proof to the fact that interchange-plus does not guarantee competitive credit card processing fees.
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Enhanced Merit 3 is a Mastercard interchange category.
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Merit 3 (or Merit III) is a Mastercard interchange category that determines credit and debit card processing fees.
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In the past, American Express was the most expensive credit card to accept; a reputation that it hasn’t shaken despite introducing a new pricing structure to bring costs more in line with other card brands.
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Accepting credit cards at a business comes with costs. The largest portion of the costs is known as interchange.
