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Credit Card Processing
Top 5 Things The Other Guys Don’t Want You To Know
1.What is Bundled (or Tiered) Pricing?
If you see the words discount, qualified, mid, non, or surcharge next to your rate, that is known as Bundled Pricing. It allows processors to point any transaction they wish to the higher mid and non-quailified rate categories, no matter what card type is being used.
Bundled Pricing is the most common way for processors to take advantage of small businesses.
2. How Do I Avoid Hidden Charges?
With our Interchange Plus pricing policy, OUR COST IS YOUR COST. PCI Professionals will pass all Interchange and Association fees directly to you, so there are no hidded fees or surcharges.
3. Are Free Terminal Offers Really Free?
This is a common practice some processors utilize to deceive merchants into higher rates. Why would someone give away a $300+ terminal for “free” if they weren’t making it up somewhere in hidden charges?
Your “free” terminal could wind up costing you a lot more than you bargained for!
4. Strength In Numbers
PCI Professionals, along with our vendor relationships, process more than 55% of all the credit transactions in the USA, with over 600,000 retail businesses nationwide and one billion dollars in transactions per month.
5. Why Does PCI Professionals Offer Such Low Rates?
PCI Professionals offers rates below industry norms because we beleive in maintaining positive relationships with our clients. By eliminating the middlemen and providing sevices directly to our merchants, we do not have to raise prices to be competitive.
How Credit Card Processing Works
The Player |
Primary Function |
| Cardholder | Make a payment for a product or service |
| Merchant Payment Application | The interface though which a cardholder’s payment is made (Ex: Payment form, Shopping Cart, Terminal, POS) |
| Gateway | Securely connects the payment application to the financial network via a processor. Triggers the settlement process. |
| Processor & Acquiring Bank | Connects the Payment Application to the financial network. Clears authorization and settlement requests |
| Issuing Bank | Determines if there are sufficient funds on the cardholder’s account to complete the purchase. Performs CVV and AVS checks against the cardholder’s account |
| Card Associations (Visa / MC) |
Regulates overall industry behavior |
