Interchange + pricing is the most transparent pricing model available today, because you know exactly what your cost is for each type of payment card you accept. Beyond the base cost charged by the card brands (interchange), it then becomes clear exactly what the transaction markup percentage (discount rate) and transaction fee are. We walk through every fee line item right with you to make sure you understand what you are paying for and always have your back to make sure that you are realizing cost savings and receiving accurate statements.
There are just two fee components to flat rate pricing for every transaction: a percentage fee and a fixed dollar amount, say 2.9% + 30 cents. However, after understanding the Interchange + model, it quickly becomes clear that paying a flat rate per transaction across the board does not make sense when many of the cards merchants accept have lower transaction costs all-in than the flat rate that is being paid. Nevertheless, we are happy to offer flat rate, especially when it comes to SaaS integrated software partners.
The true benefit to the Interchange + pricing model is that it creates a compelling revenue share opportunity for your business. We are able to provide unprecedented incentives that are directly tied to the amount of volume your merchants bring to the table. Whether you are an ISV, a referral partner, or an agent bank, it only makes sense for us to share in the benefits as our relationship reaches scale. Interchange + allows you to take hold of your own customers and price them effectively for your business.