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Would you like to know some of the leading merchant account fee and pricing secrets?  Then get your free copy today.  Visit Merchant Statement Analysis and simply use the contact form to get your copy.






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UPDATE July 20 2020!!! CARD BRANDS DELAY MOST INTERCHANGE RATE CHANGES UNTIL APRIL 2021

UPDATE TO BELOW ARTICLE (July 20, 2020)Some processors or their banks have released the new interchange rates effective July 17, 2020.  However, Visa and MasterCard have not yet done so.  I am actively looking into this issue to find out what is going on. 
------------------------------------------------------------------------------------------- There is much confusion out there on the web as to when the Interchange fees will increase or decrease.  Initially many reports circulated in March 2020 that the traditional rate increases for April 2020 were postponed until July 2020.  Many  believe this to be the case. 
However, there was a Visa blog post later in the year (May 2020) as well as other circulated reports that the Card Brands have postponed the changes until April 2021 due to Covid-19. 
The only item that is being affected for July is the Supermarket rate reductions which will benefit those businesses during the pandemic. 

Here are several links including one from Visa's own si…

Why Outsource Merchant Account Statement Analysis

First of all I want to say that this article is not for merchants but is for MLS and ISOs who understand what I am about to say:  Merchant processing statements are a pain! Now with that out of the way, let's talk about why that is.

With credit card interchange rates constantly changing, many agents have difficulty reading and offering a merchant account quote.   How much time do you think you have spent staring at merchant statements while still not being able to offer them a competitive statement quote?  Is the merchant account priced as Standard tiered, Interchange-Plus, or the confusing  Enhanced-Recovery pricing?  How much time has been lost in the sales process during this important step!
On the other hand, perhaps you currently work with a processor who  offers a free merchant statement analysis service.  They want to do it, but there are more pressing tasks that must be handled.  I know as I worked for a company for many years as an Recruiter and Relationship Manager and mo…

MERCHANTS HAVE MORE CREDIT CARD PROCESSING FEES THAN EVER!

In the last few years, I have personally seen merchant accounts incur more and more monthly fees that have never existed before.  For example:

MONTHLY ASSOCIATION FEES (RETAIL)
 $0.83 NYCE
 $0.75 PULSE
 $1.00 STAR
 $0.75 JEANIE
 $0.67 ACCEL
 $1.25 MC annual
 $1.25 MC location
 $2.00 Visa FANF
 $8.50 TOTAL
This is like an additional monthly statement fee.  The PIN Debit annual fees are broken out as monthly but represent a $55 annual fee.   Keep in mind this is in addition to other fees that are also going up constantly.

Discount Fees
Transaction Fees
Interchange and Association Fees
PCI Compliance
PCI Non-Compliance
Breach Protection
Monthly Statement
Online Reporting

Therefore no one should be surprised that everyone is paying more than ever to accept plastic.  And dont be surprised that one rarely sees these fees listed in agreements.  Maybe its in the fine print 20 pages in.  My question is what has changed from a business standpoint to warrant these constant increases?  Is there any added …