Merchant Account Rate Reality: How Hidden Fees Increase Costs
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Here is a presentation I created for a potential client that was promised a discount below cost - 1.19%. How can this be? Watch to find out.
![Presentation Outline ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
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Merchant Account Rate Reality: How Hidden Fees Increase Costs
- 1. Merchant Account Rate Reality Robb Lejuwaan - US Merchant Services
- 20. July 2007 Category 1.19% 1.95% Qualified $146.66 $240.33 (1.19% vs. 1.95%) Mid-Qualified $244.26 $155.40 (3.25% vs. 2.06%-2.10%) Non-Qualified $267.13 $161.37 (4.25% vs. 2.61%) Totals $658.05 $557.10
- 21. So the 1.19% rate does not lower costs It causes them to go up $100.95!
- 22. $100.95 Loss? How can this be?
- 23. It is very simple They make all their profit by padding the surcharges from Visa and MasterCard We, on the other hand, offer “ straight pass through” which means we pass through the surcharges from Visa and MasterCard at cost, without any padding.
- 24. So even when our base rate is .76% higher than our competition our fees are still considerably lower Their “mid-qualified fees are 1.15% higher and Their “non-qualified” fees are 1.64% higher than our rates