Tiered Pricing is the most common rate structure. The tiers are: Debit/Check Card transactions, Qualified transactions (cards swiped at the point of sale), Mid-Qualified transactions (internet/key entered/some rewards cards), and, Non-Qualified transactions (high end rewards cards, corporate and government/private purchasing cards). These rates start at 1.2% for the first tier to nearly 4% for the last. PreferredPay will match or beat your existing tiered rate package, guaranteed.
Interchange Cost Plus pricing is frequently utilized with high volume merchants. Interchange is the cost schedule set by V/MC/DC for their several hundred card types which carry various "interchange" costs, the baseline used by all processors. When a company has an Interchange Cost Plus program they pay interchange cost plus a number of basis points (a basis point is 1/100th of a percent) to cover the processor's operating costs and profit. PreferredPay also offers this pricing schedule and will match or beat your existing plan, also guaranteed.
As a company, we have chosen not to become a registered ISO, which requires a singular relationship with an individual processor. Rather, we have relationships with a number of processors that brings to us the varied services and programs available in the marketplace. We can therefore provide a consultative service that can customize merchant programs.