Accepting Card Payments with Wholesale Pricing

The Core Cost of Accepting Credit Cards

As you might already know by now, every card under VISA, Mastercard, and Discover brands has a wholesale cost, known as the Interchange Rates for accepting credit cards. Those rates are charged by the banks that issue the cards to their customers, the cardholders. Depending on the type pricing you’re currently in, those rates are usually passed through with a markup by VISA, Mastercard, and Discover, as well as your provider you use for accepting card payments. There’s not much anyone can do about the wholesale cost or Interchange rates charged by the issuing banks or the card brand’s markup, but there’s a lot a provider can do to lower your overall cost.

Finding the Best Pricing Option for Accepting Credit Cards

There are different types of pricing methods so different ways to mark up each transaction. Some try to lump up all your transactions into 1-3 rates to cover all the cost, while others put a fixed markup on each transaction over the Interchange (Wholesale) cost which is known as Interchange Plus pricing. Interchange Plus has always been the better side of the of the above pricing types, as it always kept your cost to the lowest possible denominator. However, a lot of providers add additional monthly fees to increase their profits on each account.

Keeping It Simple, While Keeping Cost Down

Wholesale Payment Partners offers a better, fairer way than charging you a percentage of each transaction, a statement fee, as well as any other fees usually added by providers. We simply offer a flat fixed monthly cost, with a small transaction fee. This way you pay only the wholesale cost of accepting cards, a flat monthly fee for an account with us, and a small transaction fee. We have pricing packages as low as $30.00 monthly with a $0.15 transaction fee, depending on how much you do in sales volume. 

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