As a business owner, when you set up a merchant account to enable your customers the ability to pay for your products or services using credit cards (or debit cards with a Visa or Mastercard Logo), you will have some fees associated with the credit card transactions.
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The specific fee amounts that you pay will depend on the merchant account provider you select to provide your credit card processing service; however, there is a list of typical fees that the majority of providers charge business owners in exchange for the ability to accept credit as payment.
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<b>Discount Rates</b>
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Visa and MasterCard have what is called “interchange” rates. They range in price- so in order to make it easier, the merchant providers created three categories.
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Qualified Discount Rate – a percentage is paid from each dollar charged.
<br>Mid-Qualified Rate – does not apply to merchants that manually enter transactions.
<br>Non-Qualified Rate – added to the qualified […]

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