Most Just Pricing Model There Is
Interchange fee is an amount charged to merchant’s bank account by a credit card issuing entity every time a consumer swipes a credit card for a purchase. And Interchange-plus as the name suggests has a fee addition to the existing interchange.Interchange-plus pricing model has two aspects i.e. percentage fee and fixed fee per transaction. It is considered the best model for smaller merchants who process lower volumes and merchants that process higher volume of transactions. The fee is constant and fair and there is no penalty for smaller who process lower amounts.
Interchange-plus pricing offers transparency to all parties involved. It clearly provides details of money that goes to card-issuing entities, credit card associations and also to IMD. Merchants and clients will be in the know of how IMD makes money and how much we make. Pricing model we have is the most just model of all.
Our Pricing Model Makes US Unique
Other merchant service providers have many different pricing models, but those models do not offer transparency on interchange rates. In facts, overcharging for a service attracts benefits in those models. It is unfortunate to see such practices where no one knows the transaction cost, pricing structure and any other fees. But IMD is focused to lead by example and bring change to the way pricing works.