The wholesale rate, or the interchange rate, is the baseline fee charged by Visa, MasterCard, Discover, or Amex that is applied to every card use. The fee varies based on the type of card used. For example, the rate is different for debit cards versus credit cards, retail versus eCommerce, and rewards versus non-rewards. Even the type of product that is being purchased affects the rate.
The Other Guys
The interchange rate is something that you can’t change and is going to be added to any purchase regardless of the card processor being used.
The problem is that most card processors lump the wholesale rate with their own rate, which includes markups and hidden fees, making the final rate a confusing bundle of charges. At 99 Merchant Account, there is no extra rate added to the wholesale, allowing members to pay the low rates set by the card providing companies. Our commitment to transparency and wholesale rates gives businesses piece of mind and saves money.
99MerchantAccount makes it easy to get credit card processing for small businesses!