How important is the merchant account set-up in getting my company the best rates?
It is critical. In determining rate categories, Visa & MasterCard classify merchants into one of three categories: (1) Retail (swiped) Merchant; (2) Mail Order / Telephone Order (MOTO) and (3) Internet/E-Commerce. From the perspective of industry risk factors and the underwriting process, retail swipe merchants always have a less expensive interchange rate than MOTO or Internet merchants due to less instance of fraud with cards being swiped through a credit card terminal. We help you work through the complicated setup process so that you have the best chance of accepting credit cards at the lowest possible processing rates.
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