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Best Credit Card Processing Pricing Structure
I’m excited about BestMerchantRates.com’s new pricing structure: Large Corporate Pricing for everyone! The credit card processing industry is confusing enough and you could spend years trying to understand 3-Tier, ERR, non-qualified, mid-qualified, and qualified discount rate pricing structures. The best credit card processing pricing structure is clearly the Large Corporate Pricing structure, or Cost-Plus as some people refer to it. That’s why large corporations and retailers like Wal-Mart and many restaurant conglomerates only negotiate this credit card processing pricing structure. The best part about Large Corporate Pricing is that it’s completely transparent. Visa and MasterCard determine the base fees according to the type of card the customer uses to pay for the transaction. These base fees are fixed and the same for all processors. So no matter who a merchant signs up with, they are still going to have to pay these base fees. The beauty of Large Corporate Pricing is that the processor (like BestMerchantRates.com), discloses their fee or mark-up when the merchant signs-up and there is no guesswork as to what is being charged. Now that is transparent credit card processing pricing! Better yet, the merchant’s statement breaks down each transaction by card type showing the VISA/MasterCard base fees plus the processor’s mark-up. There is no possible way to hide what is being charged! That is why large companies demand this pricing structure. All the other structures can vary and are solely at the discretion of the ISO (Independent Sales Organization), MAP (Merchant Account Provider), or provider of the credit card processing services. It’s great to be part of a company that is leading the way to make things more transparent for its customers.