ProMerchant Services for all your merchant needs

Q.) Can you offer me a Single Flat Rate?

A.) Sadly, far to many merchant services companies boldly advertise and promise "One Low Rate". If you have been price comparing different providers, then I am sure you have already seen these types of misleading promises. When you see rates advertised as low as 0.95% or 1.19% etc., that is ONLY going to apply to a swiped consumer debit card transaction..

There is NO STANDARD SINGLE RATE that can be quoted or used for a price comparison. Currently Visa and Master Card have over 300+ interchange rates which are applied according to card type, transaction type and business type. These interchange rates are then broken down by many processors into pricing tiers or "buckets" such as "Qualified", "Mid-Qualified" and "Non-Qualified", with the lesser qualified transactions i.e. Keyed-In, Rewards and Commercial cards, being charged a significantly higher rate known as a surcharge fee or downgrade.

One thing you need to know is that there is no such thing as a "Qualified" interchange rate. The word "Qualified" is simply a term used as a "teaser rate" by many merchant services providers to market their service. Unfortunately this "Qualified" rate is many times used to mislead the business owner into believing that they will be receiving only a single rate on all of their transactions. This couldn't be farther from the truth.

When choosing a merchant services provider for your business, have them fully explain and breakdown ALL of the rates and fees that will be applied to your merchant account. Have them go over each rate and fee listed on your Schedule A which is provided to you with your application. You have every right as the business owner to know exactly what you are paying and why!