Interchange Plus is the Most Transparent Pricing for Credit Card Processing
Interchange Plus pricing for credit card processing is the most transparent way to price credit card processing services because it provides full disclosure and reporting of the three cost components involved in all Visa, MasterCard, and Discover credit card transactions: Assessments, Interchange, and Processing Services.
Since two of the components, Assessments and Interchange, are set by the various card associations and the same for all merchant service providers, merchants are able to quickly and easily make an apples-to-apples comparison of different credit processors' charges for Processing Services, since it is the only cost component that is variable.
Another great advantage to this transparency is that being able to see all three cost components allows merchants to determine the exact type and mix of cards they are accepting, and the corresponding interchange rates and fees.
Working with a diligent and experienced merchant service provider, the merchant is able to identify ways to optimize and lower their Interchange costs by submitting additional data with their transactions, such as Level II and Level III card data, avoiding costly downgrades for incomplete data or late settlement, and identifying the merchant's correct merchant category code (MCC) and the correct interchange rates for that category.
Burlington Bank Card: interchange plus processing, transparent pricing, one-on-one personal service.
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