How to figure out your "all-in" credit card processing effective rate.
First
determine if your current processor is processing and billing for the
Discover card activity.
If
your current processor is NOT billing for Discover, divide the total fees
by the total Visa/MasterCard sales, the answer is your "all-in" effective
rate.
If
your current processor IS billing for Discover, divide the total fees by
the total Visa/MasterCard/Discover sales, the answer is your "all-in" effective rate.
With Matrix Payment
Systems, the "all-in" effective rate should be at orlower than
the rates listed below.
Retail/Restaurant-Card Swiped2.25%
MOTO/eCommerce-Card Not
Present-Business-To-Consumer2.50%
MOTO/eCommerce-Card Not
Present-Business-To-Business2.75%
*The rates listed above are approximate and vary depending
on average size sale, number of transactions, sales volume and method of
processing, but it is a very good gauge.
** Other costs to consider are fees that could be possibly
being debited from your checking account that do not appear on the credit card
processing statement, such as equipment lease fees, equipment rental fees,
monthly gateway fees, gateway transaction fees, annual fees, and PCI Compliance
fees. Any of these fees should be included in a complete Cost/Savings Analysis.
If your effective rate is higher than what we have listed
above or if you are looking for better service, better support and (or) reliable
processing solutions, please call us to review your current processing and (or)
please fax the most current 2-3 months of your Visa/MC activity statements to
us for a complete - no obligation Cost/Savings Analysis.
Businesses who accept customer payments where the credit card is not physically present, continues to grow steadily.
Processing payments in a card-not-present (CNP) environment is unique.
MasterCard and Visa have imposed specific data requirements for CNP transactions and, compliance with these requirements provides specific financial benefits for your business including: Ability to detect potential fraudulent transactions Qualification for the 'best' qualified rates by providing required transaction data on consumer and business Cards At Matrix, we take the time to understand the profile of your customers and the life cycle of payments as they flow through your company. This is a critcal component in our ability to recommend the best payment processing solution for your business.
Accept commercial and government procurement cards with a fraction of the accounts receivable period of the traditional purchase order process. Usage of these cards is growing at over 30% annually, putting acceptors of these cards at a distinct advantage.
Matrix Payment Systems can give your business the advantage of meeting the requirements to accept corporate and government purchasing cards at the most favorable rate.
Why Matrix?
Card Acceptance in the B2B Industry continues to increase on an annual basis as more businesses utilize purchasing cards in place of the traditional purchase order process. Suppliers of products and services to local/state government and the military are seeing the continued migration and increase in the use of MasterCard and Visa GSA procurement cards.
As a result of this growing segment, MasterCard and Visa have implemented specific rate-sensitive requirements that card acceptors must adhere to in order to qualify card not present transactions (Commercial Purchasing Cards/Government PSA Cards) at favorable discount rates.
Matrix is a specialist in B2B payment processing. Our solutions professionals have been working with B2B card acceptors for many years and thoroughly understand these requirements and the impact they have on your business and on your bottom line.
Our goal is to be an integral part of your team.
Understanding the profile of your customers is a critical component in our ability to recommend the best payment processing solution for your business. A true payment processing partner. A partner that has taken the time to learn about your business and clearly understand your payment acceptance requirements and can recommend and implement solutions that can meet these needs today – and tomorrow.
Let’s face it. There are many companies that can provide traditional payment processing services.
What you need is a payment-processing partner.
When it comes to payment processing, we know our business. Give us a chance to get to know yours, and you will finally experience what having a true payment-processing partner all about.
