Pricing FAQ’s

What’s the deal with “Pass-Thru” pricing?

Common questions about Interchange Pricing

We price all of our merchants with “Interchange Plus” pricing… aka “Pass-Thru Plus” pricing. Why do we do it? The reason is simple. It’s more transparent and saves our merchants thousands.

What is interchange?
Who sets and regulates the fees?
How do I know which interchange fee I will be charged?
How are these fees deducted from my transaction?
Why not charge me a flat rate for my transactions?
What is an “effective rate”?
What is an “average ticket”?

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Want to supercharge your knowledge of how cards fees impact your store? Read below...

The transaction journey

The journey of a transaction has many stops. From your point of sale, to the processor, to the card networks and banks, each hand has a role to play. Each has factors that determine the fee type.

The card networks

The card networks (i.e. Visa) work with the banks to charge a fee for this verification and approval process.

Collective “Interchange” fees

These fees are made up of a percentage of the sale and a fixed per transaction fee. Several factors determine what fee is applied.

Understand processing fees

The card network and the banks charge Interchange fees to the processor. The processor then decides how to charge the merchant (you) for these fees.

Pass-Thru passes on

1.
Pass-Thru simply means that we will pass through the Card Brand fees that are assigned for any given transaction. There are hundreds of different qualifications for Interchange, ranging from 0.05% + $0.22 to $2.95 + $0.12
2.
This method is more complex, but ultimately allows the retailer pay lower fees on card types with lower Interchange fees.

Blended vs. flat-rate pricing

1.
Blended Pricing or Flat Rate pricing is commonly used by the Major Fuel Brands and for e-commerce. This method simplifies all the Interchange fees by creating one (or a few) categories of fees (i.e. 2.90% + $0.30) for all transactions.
2.
While this method makes understanding the fees much simpler, the merchant doesn’t benefit from lower Interchange card types.

Understand the impact of your average ticket to effective rate.

The least best kept secret to a low effective rate: a high average ticket!

The total sale of a card transaction will impact your fees more than anything else. Because Interchange fees are made up of a percentage of the sale and a per transaction fee, the higher a sale the less impact a per transaction fee will have on your overall sale.

Simply put, the higher your average ticket the lower your effective rate. We think the table below details this better than anything else.

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