Adding ACH processing to MX Merchant is easy. Follow the below steps.
Setting up ACH.com
Archives: FAQs
MX Customer Database – Store Credit Card Data
With MX Merchant, it’s easy to store your customer’s payment details for later use. Once your customers are in the system, you’ll have historical records of their purchases and an easily searchable database of your payment history. Watch the video to see how to use the Customer Database.
MX MarketPlace Apps
MX Marketplace allows you to download additional apps to your account, such as B2B processing, Invoicing, Merchant Insights and more.
Mastercard Consumer Interchange Rates
Mastercard allows issuance of two distinct card types – Consumer and Business. Depending on your customer demographics, most card-present or “retail” merchants will receive predominantly Consumer cards. Read on to see how different cards qualify for different interchange rates.
Visa Consumer Interchange Rates
Visa allows issuance of two distinct card types – Consumer and Business. Depending on your customer demographics, most card-present or “retail” merchants will receive predominantly Consumer cards. Read on to see how different cards qualify for different interchange rates.
What is Interchange-Plus Pricing?
This pricing model works by adding a constant margin onto the underlying interchange-rate. It’s widely considered the fairest model in the industry.
What is Interchange?
Interchange is the underlying cost of every credit-card transaction. It’s what every provider pays back to your customer’s issuing bank.
Mastercard Consumer-Issued Cards
Mastercard credit cards are issued to customers not by Mastercard, but by an issuing bank. These credit cards will have varying terms/rewards, as every bank is different. The below guide is a handy reference to see how cards are typically classified. Note that issuing banks have a lot of “leeway” in how they classify a card. So, some cards may have similar benefit structures, yet will fall into different categories. What’s important to keep in mind is that you have NO control over this aspect of card acceptance. You can’t tell what type of card you’re accepting just by looking at it, and most customers won’t even know their card type if you ask them. This process is designed to be “invisible” and in the background.
Visa Consumer-Issued Cards
Visa offers several different card types that banks can issue to their customers. The more “perks” that each card offers, the more they cost in interchange fees. See the main categories of Visa cards and see how it all works out by reading on.
Visa Retail Rates
CPS stands for “Custom Payment Service”. The CPS classification is typically known as the best rate structure offered by Visa, and CPS requirements are often the “minimum” qualification requirements for more advanced interchange rates. Read all about CPS here. In a nutshell – you have to first qualify for CPS rates before other more advantageous rate structures will apply. The “CPS Retail” category encompasses traditional consumer credit cards, as opposed to rewards/business/purchasing cards. Barring a few exceptions (below), most merchants are able to receive this interchange rate. Read on to see how different types of CPS Retail cards are assessed.