My Credit Card Processor Raised My Rates – Now What?

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You know the drill. Your monthly processing statement comes in, and your processor is raising your rates. How do you stop it?

Credit card processing isn’t cheap. But it doesn’t have to be as expensive as many business owners think. In this article, I’ll cover the different types of price increases, which ones are avoidable, and how to stop them.

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Types of Price Increases

When your processing rates go up, it could be because Visa and Mastercard raised rates, your processor raised rates, or both. When Visa and Mastercard raise rates, there’s nothing you (or your processor) can do to lower them again. However, processor rate increases are avoidable. There are two ways to avoid them.

The Easy Way

Join Card Fellow’s wholesale credit card processing club. Our members enjoy contractually-secured rate locks on the processor’s markup, so your processor can’t increase rates over time. We stick around to monitor your pricing and ensure you pay as little as possible for processing.

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The Hard Way

Learn about the different ways that processors may apply price increases, and watch your statements. You’ll need to compare the interchange rates listed on your monthly statement to the published interchange rates on Visa and Mastercard’s websites in order to determine if interchange is passed to you at true cost.

Determine the Source of the Increase

In credit card processing, an increase can be the result of a few different things, some of which are in your processor's control and some of which aren’t. You’ll need to first determine if the increase was your processor’s doing, or Visa / Mastercard’s.