Merchant Services
Plain and simple, you must accept credit cards. But you already know that, don’t you? Credit card processing is simple.
Visa, Master Card, Discover and American Express have their own interchange. Interchange equals cost of doing business. Every time the card is swiped banks determine their cost based on the type of card. It also depends on whether it is swiped or keyed in. This cost is then passed on to you.
Now, every merchant company or bank charges you an extra fee on top of the interchange. After all, they can't work for free, right? But you know banks, charging a flat fee is boring, so they devised a complicated pricing modules like tiered pricing and bill back or ERR to increase their profit margins.
At Modus POS, we think you have enough on your plate to calculate all those weird discounts and variances. We think processing should be simple.
So here is the deal, we devised a simple pricing chart based on your volume.
This way, you know exactly what you pay for, no hidden fees, no gimmicks.
Volume
|
Transaction Fee:
|
Our Fee:
|
Monthly Fee:
|
< $25'000
|
$0.10
|
1.00%
|
$9.95
|
$25'000-$100'000
|
$0.08
|
0.50%
|
$9.95
|
>$100'000
|
$0.06
|
0.25%
|
$0.00
|