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Merchant Rates News Alert
Effective April 2010, MasterCard, Visa, American Express and several PIN debit networks have announced rate and compliance changes.
MasterCard will be increasing their Dues from 0.095% to 0.110% as well as adding new Interchange categories and making many other Interchange adjustments. Visa’s big move is to price a Visa signature debit (check card) transaction the same as a Visa Interlink PIN debit transaction, both will be 0.95% + $0.20. We track all of these changes at http://www.vantagecard.com/price/interchange05.html. We recommend that you view this page and bookmark this resource.
Visa has also already announced changes for July and October. In October 2010, Visa will extend its Small Ticket Interchange to most merchants. This is an effective reduction in the overall Interchange costs for most merchant categories. However, few merchants will benefit since there is no difference between a transaction over or under $15 in their current merchant account contract. Bundled, blended, “rate as low as” pricing structures, where merchants pay non-qualified surcharges, will be unable to realize lower costs on transactions that meet this revised Visa Interchange category.
ALL merchants large and small can get an Interchange rate price structure to lower their costs. For the Best Merchant Rates insist on a detailed Merchant Interchange Rate Quote. If you have any questions or need personal assistance, please give us a call at 800-397-2380.
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Merchant Rates Q&A
If you were able to attend, we Thank You for your participation on our January Merchant Rates Q&A conference call where we took your Merchant Rates questions and discussed the largest component of your pricing structure - Interchange rates and their impact on your bottom line.
For those of you who were unable to join us, we have created a Merchant Rates Frequently Asked Questions resource.
Merchant Rewards
If you are not earning rewards processing your card payments with your current merchant services provider, we invite you to consider our Vantage Points Rewards program. Vantage clients earn one point for every transaction they process or one point per $50 in sales, whichever is greater. Use your points to shop at nearly 200 name brand reward partners already in the program. Please visit http://VantagePointsRewards.com for more information on this unique and exciting offer or to join us as either a Reward or Business partner.