Interchange Rates

Customers are often faced with multiple different interchange rates. Interchange rates are comprised of two fundamental elements: a fee charged per transaction made and a percentage fee of the volume of the sales. Usually, credit card, specifically: Visa and Mastercard, Interchange rates will be written like this:

2.00% + $0.10

To simplify the below tables, the key point is that each and every business is subject to the fees and charges. Whether you own a small or large business, if you would like to accept credit card payments, it is necessary you follow the Visa Interchange fees as well as the Mastercard Interchange fees.

Card Association Fees

Besides the Interchange fees that the merchant service provider is required to pay to the supplying bank, there are additional fees that are charged by the credit card companies, Visa/Master/Discover. These credit card companies appraise various different fees that are calculated based on the factors of your business's circumstances, for example: the type(s) of security protection you utilize, supplementary international surcharges you might pay, the volume of payments you process per month, whether your customer is physically there to present you the card when making the transaction, etc. The fees you will be charged depend on specific factors for the transactions, therefore the fees can not be predicted with absolute accuracy. The consistent fees that credit card companies charge are approximately: $0.02 per transaction made and 0.12% of the value. These fees must be paid by all merchant service providers.

Elavon Fees

Please refer to the table below for the fees Elavon charges. The flat rate is currently: 0.1800%