Some Companies Advertise Only Debit Card Processing Rates Because They Tend to Be Lower ... Don't Be Fooled
The underlying cost or interchange rates for debit card transactions are typically lower than credit card transactions, so many advertisements only promote rates for debit card transactions. Business owners typically do not realize this until they are presented with the first processing statement.
Unfortunately, many business owners don't look closely at their credit card processing statements due to lack of time or lack of understanding about what they are looking at. The rates and the statements can be very confusing.
The interchange rates on credit card transactions can be several times higher than the debit
interchange you thought you were getting. This means you are ultimately paying MUCH more than the lead in rate the processing company advertised.
Before signing a contract with any processing company, it is important to make sure you fully understand the financial obligations associated with each type of transaction.
Novera works hard to educate clients fully on how interchange works in order to eliminate confusion surrounding this issue. In fact, we have a FREE webinar right around the corner that will help you understand exactly what you are paying, how to tell if you are overpaying, and what to do to fix it!
This webinar will last 45 minutes and it will be a very valuable use of your time if your business accepts credit cards. Be an informed business owner and take control of leakage spending in over-charges of merchant processing fees.
Two Steps You Should Take Today to Save Your Business Money
Download our FREE (and short) white paper, "5 Reasons Your Credit Card Processor is WAY More Expensive than You Ever Thought".
Register for our FREE 45-minute webinar. We'll discuss everything you need to know to determine whether you are overpaying with your current merchant processor. If you've read our white paper in advance, come armed with questions!