Credit Card Processing

Return to Learn Page

Interchange 101

• Interchange Rates are rates that Visa & MasterCard charge business customer’s to process credit card transactions.
• The average Interchange rate falls between 2%-3% depending on the type of merchant account you have.
• These Interchange Fees are primarily used to pay for retail credit card holder(s) “free” rewards program.

Teaser Rates – Too good to be true?

Teaser Rates or Intro Rates are rates that are advertised by sales organizations to lure business customer’s to sign merchant contracts in order to take advantage of the low advertised rate. The reality is, once the business customer signs the contract, they are locked in many times with early termination fees, and during the life of the contract, the business customer’s rate doubles or in some cases triples from the advertised rate for the majority of their transactions.

Early Termination Fee

Early Termination fee is a common fee charged in the credit card processing industry. It is used as a tool to recoup any lost revenue due to expenses incurred during the initial boarding process. Riva Payments / EPX NY does not normally require any early termination fee as part of its standard contract. We let our superior customer service speak for itself during the life of our merchant contract(s).