Merchant Account Blog & Credit Card Processing Blog

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PAY AT PUMPS | MERCHANT ACCOUNT | SAVE THOUSANDS


Gas station owners are in a very competitive business. Every possible edge over the competition is a must to compete in this industry. Saving money on credit card processing can be a lucrative edge over your competitor down the street, who has not analyzed his merchant account expenses.

When you are working on pennies, your credit card processing rates and fees matter. Understanding what those transactions cost workout to on an average basis is key. If your average gas purchase is $40, you need to understand what your current cost is on that card transaction. This cost could really be eating away at your profits, if this goes unchecked.

We can offer you an interchage plus pricing program, at a small fraction above true interchange cost. This program is usually reserved for high volume accounts, but we are now offering it to independant gas station owners of all sizes. We can even included your in-store sales of food & convenience products. We even offer Fleet-Card acceptence like Wright Express and Voyager cards.

Grab your most recent credit card processing statements and give me a call. I’m confident that we can save you money, making your business more competitive.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

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Visa has announced changes in Interchange Rates, due to take effect on October 3rd, 2008. For the most part, the average merchant should not feel any pain. As most of you know, “Interchange” is a complcated mass of different catagories for different transaction types. Seems that for the most part, the major change is the addition of the following New Interchange Catagories:

Debt Repayment -This category allows agencies that take payment for auto loans, student loans and mortgages to pay a lower rate. This Interchange category does not apply to past due debt such as items in collections.

Pay at the Pump - This fee is a reduction. Consumer credit cards used at gas pumps have been lowered by as much as .50 basis points. Prepaid gas cards will also now be to “Partial Authorization.” Some examples of these types of cards are Shell Cards and Wright Express cards.

Tax Payments - This program is a requirement for all merchants. There will be no cost for the program until April 1, 2009, but a convenience fee may be assessed. This fee may vary for consumer credit cards and commercial credit cards. For consumer debit transactions, a flat fee may be assessed and cannot exceed $3.95.

Government to Government - This category has gone up by .25 basis points for transactions over $8,750. The $5,000 minimum has been removed and Level 2 and Level 3 data is not required.

Again, most business owners will not be effected by the changes. Gas stations actually will benefit and will hopefully pass that savings on to the consumer, as Visa had intended to help consumers with the high cost of gasoline in this change.

If you have any questions or are looking to Save Money On Processing Costs, please give me a call.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

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Merchants doing high volume may find it hard to get a merchant account. You need to find a processor who is willing to accept the risk of a single high volume account. Risk varies from processor to processor, as some will cap off their risk on a single account. If you are having problems, please give me a call.

On the other hand, high volume merchant accounts can usually qualify for much better rates than the average business with an average monthly credit card volume. If your volume is high enough, you may qualify for Interchange Plus Pricing which should save you money on Mid & Non-Qualified Transactions. This type of rate structure would also provide you with the best possible rates.

If you are looking to save money, please give me a call.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

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Visa announced that it will lower the Interchange Rate on gasoline purchases in an effort to lower the cost for consumers. The first is a “Cap” on debit card transaction fee’s for “Visa Debit Cards”. This change already become effective on July 18, 2008.

A restructuring of the Interchange Rate for gasoline sales will take effect in October 2008, which will lower the fee’s associated with “Visa Credit Cards”, charged to gas stations. Hopefully this is good news for consumers, who are finding hard to make ends meet. With the competitive nature of the gasoline stations, consumers should get some relief as gas station owners pass along the saving on credit card processing to the consumers.

No word yet on Mastercard, but it is likely they will follow suit.

MARK SANDS
http://www.usa-merchantaccount.com

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