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At CardFellow, we received this message from a curious business owner. I have a question about a specific company – [removed to protect the guilty]. They are saying the rate they can provide is 1.54% on qualified and mid-qualified cards (“flat wholesale rate”). The only other rate is “up to 4.61%” on non-qualified cards. Then …
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Tiered pricing is an opaque and expensive merchant account pricing model.
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If so, you’ll be really happy to learn that non-qualified rates are primarily a figment of your processor’s imagination. They are often used to increase profits through the practice of excessive surcharging. Non-qualified rates can be easily avoided, and this article will show you how to rid yourself of non-qualified fees. The Frustration of Non-Qualified …
Non Qualified Rate: A Figment of Your Processor Imagination Read More »
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Understanding how credit card processing fees are determined and how different merchant account pricing models work can save your business hundreds of dollars a month in transaction costs. One of the first questions you’ll ask is “Which should I go with, tiered pricing or interchange plus?” Tiered pricing is never in your best interest, but don’t …
