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When referring to the percentage merchants pay for accepting credit card transactions, Visa and Mastercard use the phrase “Interchange Rate”. American Express uses the phrase “Discount Rate” when referring to their processing fees, which can be misleading. Instead of giving merchants a discount for particular purchases, they are actually taking a larger percentage of the purchase than most credit card processors. As American Express works as a closed loop system (dispersing their own cards, authorizing and settling payments), they set their fees at high price rates for whatever they can get away with in our current economy.

Amex Discount Rates Vary From Business To Business

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Too often, companies accept losing money on merchant account fees when they would not accept those kinds of losses in other areas. But merchant account fees are presented in such a way that it can feel like an insurmountable task to cut back on expenditure. It is possible the fees are purposely obscured so businesses are not aware that fees can be reduced.

By optimizing your interchange rates, weeding out unnecessary charges, and implementing more tried-and-true techniques, Verisave could reduce your merchant account fees anywhere from 25% to 35% each month. Years of experience sorting through companies’ merchant account statements has given Verisave a familiarity with the process. Our savings experts focus solely on reducing your merchant account fees, saving your business more than they imagined was possible.

Interchange Rates Contribute The Most To Your Merchant Account Fees

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