Processing Options
Eliminate the Uncertainty of Transaction Fees
There are costs and fees associated with the network of banks that process the payments – making it possible to take a card payment and deposit the funds into the merchant’s account the next day. What are these fees for Roughly half the fees go towards Interchange. The other half go towards rewards, like Frequent Flier Miles or Cash Back. The business or the seller pays for these rewards, NOT the card issuing banks or Visa, Mastercard, Discover, and Amex.
The four different types of fee structures
Interchange Plus |
The merchant pays all transaction fees. The fee rates vary on the types of rewards, transaction size, card present or not present. |
|---|---|
Fixed Rate |
The merchant pays all transaction fees, at a fixed rate, much higher than Interchange Plus. |
Surcharge |
Merchant passes on the transaction fee for credit cards, and pays all the debit transactions fees |
Cash Discounting/
|
The Merchant pays zero transaction fees, and rewards customers with a discounted price if they pay other than card e.g. Cash. |
The Benefits of Working With PayCircus
Versatility is crucial to the evolving payments space. Our customers have to be able to accept most if not all forms of payment. Swipe, EMV, eWallet, ApplePay, Google Pay, Samsung Pay, Contactless.
Before we sign you up you know what your net effective rate is for fees. We teach you how this process works. All fees will be known in advance prior to application.
Times are changing, and we are changing with them. We pledge to stay up-to-date with current payment methods, giving you the ability to provide convenience and ease to your customers