I am not getting paid to do this. I'm just pissed at how long I've just been totally confused how the process works and all the bull shit I've had to deal with trying to navigate. I hope you understand better and can say, "Yes" to "Interchange Plus" billing.
Basically, Chase AAHOA and other tiered pricing plans are opaque in the fact that you can't easily see what their profit margins are. Paypal is a form of Tiered pricing, except it's one tier at about 2.9% + $0.30 per transaction. Other tier programs may do three tiers:
♦ Qualified
♦ Mid-Qualified
♦ Non-Qualified
But this is still a very sloppy way to get charged the lowest fees possible as there are tens of different categories with different rates.
Interchange Plus models are superior because you'll know exactly what the profit margins are of your credit card processor, and it'll be easier to spot rate hikes.
I compared multiple merchants and had two merchants compete for the lowest rates on an Interchange Plus model.
I ended up going with North American Bancard:
North American Bancard
Neil Shah
neil.shah4@gmail.com
(m) 248.497.1342
The other contendar was off literally by only half a penny per transaction:
Ignite Payment Systems Agape
Daniel Han
dan@ignitepaymentsagape.com
1800-644-3909 Ext.101
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