Infographic: Credit Card Processing Fees

Where Do Your Fees Go?

When a merchant takes a credit card payment, a portion of that sale is taken in the form of merchant account fees ...

Every merchant must have a relationship with a credit card processor in order to take credit card payments.

But the processor is ONLY keeping about 5% of the fees a merchant pays.

Thus, negotiating with the processor (or switching to a new processor) is NOT the best way to reduce credit card processing fees.

Most of the savings we achieve for our clients actually come from the issuing bank …

How it Works

1. Upload Your Merchant Account Details

Send copies of your merchant statements to Verisave.

2. Review Your Free Savings Analysis

Verisave will provide you with a detailed Savings Analysis.

3. Let Verisave Implement Strategies to Save Money

Verisave will implement the savings for you.

Visa and Mastercard are Changing the Rules

Twice-Yearly Changes to Credit Card Processing Fee Structures Often Catch Merchants Off-Guard

Here's an overview of the changes put in place in April, 2019. Including one that can significantly increase a merchant's Interchange Fees ...

The April 2019 Changes:

Visa and Mastercard change the rules governing merchant processing fees twice per year: April and October.

At each interval, they enact numerous changes … most of which cause fee increases for merchants.

One recent change from Mastercard caused a tremendous increase in Interchange Fees on some transactions. This change takes even more money from the merchant, and puts it into the pocket of the bank that issued the credit card to their customer.

The full scope of the April 2019 change interval is characteristically complex. One fairly thorough overview can be foundĀ HERE.

Verisave is always happy to advise clients on these changes, and how they may affect their merchant accounts.

An Example from a Verisave Client:

Some of our clients process a large volume in exactly the classification of transaction that was hit hardest by this change. Fortunately, there are often other solutions that can be developed, bringing a comparable savings back in to the picture.

Here’s one example:

  • Client takes a large volume of Mastercard payments
  • The April 2019 Mastercard changes increased the Interchange
  • The impact was likely to be $1.2 million in additional fees for this client
  • Verisave was able to bring a solution that offset the additional fees by about $800k

Request a Mastercard Impact Analysis

Our team will review your merchant account and determine if the latest Mastercard change is having a negative impact on your Interchange Fees.

Savings Calculator

Benchmarking Your Credit Card Processing Fees