Top factors when determining merchant service providers
Choosing a Tampa merchant services provider can best be broken down by looking at certain factors such as cost. The pricing models that are typically analyzed are tiered pricing, interchange pricing and flat rate. Pass thru merchant services can give us a sense of peace when determining the one and only merchant service provider. Interchange pricing is the first cost factor and it can be broken down into 3 different parts: Card brand fee, interchange rate, processor mark up. Card brand fees and interchange rate will have established fixed rates attached to them through the specific network such as Visa. We all must pay the fixed rate that is established. Each individual merchant service provider will have a percentage markup. A per transaction fee is also attached with each individual Tampa merchant services provider.
Markup percentages can range from about 0.18 percent to almost 0.50 percent and even higher. We cannot forget transaction fees as they can range from 7 cents to 25 cents for each particular transaction. Tiered processing is the second cost factor for a merchant service provider. The tiered pricing model is considered to be common but has transparency issues to many money experts. We also have another name for tiered pricing and its bucket pricing as it combines brand fees, interchange rates and particular markups. Many of the tiers will be broken down into non-qualified, mid or fully. We see that the majority of the low rates are tied to qualified transactions to debit cards and are accepted through a card reader. Many of the mid-qualified transactions are connected to reward cards and non qualified are connected with foreign type of cards. When we look at the quoted tier rates, it is always important to see the quantity of the tiers and the types of cards that are utilized. Checking the various types of cards which customers use also have to be analyzed so we can see if it will be cost effective. We can determine that tiered processing is ideal if many of the customers utilize debit cards.
Flat rate pricing is utilized by merchant service providers and has a fixed price rate attached to it for each individual transaction even though a per transaction fee may be accrued. We see that many mobile service providers utilize the pricing model as it is considered to be the most cost effective for small types of businesses. Other top factors can help you determine whether we choose Pass thru merchant services as the top provider: The processing cost, whether pricing is transparent, low and quality pricing quotes, fees related to monthly and annually costs. Ease of cancelling an account and applying for one, length of setting up an account, time length of receiving the transaction money and the quality of customer support. We see that money of the merchants are most successful with fees, terms and pricing that are posted and explained to the customers that may be interested in the products offered.Tampa Merchant Services Provider