“Rates” Posts

ONTRAPORT Integrations: Affordable Payment Processing via PayJunction

ONTRAPORT Integrations: Affordable Payment Processing via PayJunction

As your business develops, it’s natural to add on an e-commerce component or a marketing team to grow your reach and brand awareness. Even as a curious business owner, you might be wondering who your ideal customer is, what your customer journey looks like and how interested buyers are finding your product or services. When your business reaches this apex, it’s wise to consider your options for marketing automation software. Marketing automation software can help you streamline your communication with prospects and customers, understand a customer’s lifetime value, determine where your advertising dollars are best spent and…

New Visa Transaction Integrity Fee in 2018

New Visa Transaction Integrity Fee in 2018

A new Visa transaction integrity fee will be charged starting April 14, 2018, on any credit transaction that does not meet the custom payment service (CPS) qualification standards. Visa, MasterCard, Discover and Amex update their Interchange guidelines biannually in April and October. This fee will be $0.10 per transaction. So, what are the CPS qualification standards, and how can you expect this fee to impact your monthly merchant statements? Visa Transaction Integrity Fee on Non-CPS Transactions As part of Visa’s Interchange guide, the CPS program allows certain low-risk transactions to qualify for a lower processing rate. To qualify,…

MasterCard Assessment Fee Set to Increase to 0.13%

MasterCard Assessment Fee Set to Increase to 0.13%

MasterCard announced that its assessment fee will increase to 0.13% effective April 8, 2018. The card brands update their Interchange guides biannually in October and April. This change will represent a 0.0025% increase from MasterCard’s October 2017 rate of 0.1275%, equating to an extra $0.13 in MasterCard assessment fees for every $5,000 processed per month. The MasterCard assessment fee increase will apply to all MasterCard debit transactions going forward, as well as for all consumer and commercial credit card purchases and cash advances totaling less than $1,000. So, what is an assessment fee…

Are You Paying the Lowest Possible Debit Card Fees?

Are You Paying the Lowest Possible Debit Card Fees?

You may sometimes wonder if the payments industry has your best interest in mind. At PayJunction, we believe in ethical billing, as we’ve outlined in our ongoing unethical billing series. Our goal is to educate the business community about unfair billing practices. In installment 16 of this series, we will expose how some payment providers are not passing on the savings Congress legislated to benefit businesses like yours. A Refresher on The Durbin Amendment The Interchange cost of any transaction is typically proportional to the level of risk associated with it. Since card-present debit transactions verify sufficient funds during…