Entrepreneurship & Small Business

Credit Card Processing in 2015

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  • Feb 29th, 2016 11:25 am
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Deal Addict
Jul 21, 2004
1426 posts
378 upvotes
L4cky wrote: mind to share your quote? I heard Chase with CFBI gets very good rate, but you need to be a member of CFBI, which I am not... So I can't tell.. would but like to know. I got quoted by Pivotal payments too.
1.49 for visa and 1.55 for MC but those are not premium card. typical will be at near 2.

Moneris charging .125% for card brand fee via Evalon at .09 % can't remember monex.

Debit at 5 cents for moneris and 6 cents for evalon. Just an example.
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Nov 18, 2008
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Mont-Royal
koft wrote: 1.49 for visa and 1.55 for MC but those are not premium card. typical will be at near 2.

Moneris charging .125% for card brand fee via Evalon at .09 % can't remember monex.

Debit at 5 cents for moneris and 6 cents for evalon. Just an example.
What u mean premium card? Typical =?

I thought premier card for Mastercard is only world or corporate and Visa is infinite.
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Deal Addict
Jul 21, 2004
1426 posts
378 upvotes
L4cky wrote: What u mean premium card? Typical =?

I thought premier card for Mastercard is only world or corporate and Visa is infinite.
Sorry when I meant typical is what I see ppl used mostly point / rewards card. yes I understand premium are infinite or world card.

Because no one just use a plain Visa or MC. so the 1.49% is kind of misleading
Member
Apr 6, 2010
496 posts
54 upvotes
Toronto
koft wrote: 1.49 for visa and 1.55 for MC but those are not premium card. typical will be at near 2.
Moneris charging .125% for card brand fee via Evalon at .09 % can't remember monex.
Debit at 5 cents for moneris and 6 cents for evalon. Just an example.
Maybe you could also provide the rates quoted for Non-Qualified and Interchange Differential? That's where - in general, the big money is. Thanks.

Btw, I posted the link in another thread, just search for "moneris interchange rates". Find their posted rates on the Moneris site and also go to their FAQ. You will find a lot of interesting stuff, like "Target Qualification Rate" for example.
The "Standard" (qualified) Visa Interchange Rate is posted at 1.52%. Somehow I doubt they will offer you 1.49%. (Check their FAQ for "interchange rate")
So your 1.49 and 1.55 may not be exactly what you pay - other than absolute base rates. You need to verify before you sign up.

Cristian.
Deal Addict
Jul 21, 2004
1426 posts
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Cristian_01 wrote: Maybe you could also provide the rates quoted for Non-Qualified and Interchange Differential? That's where - in general, the big money is. Thanks.

Btw, I posted the link in another thread, just search for "moneris interchange rates". Find their posted rates on the Moneris site and also go to their FAQ. You will find a lot of interesting stuff, like "Target Qualification Rate" for example.
The "Standard" (qualified) Visa Interchange Rate is posted at 1.52%. Somehow I doubt they will offer you 1.49%. (Check their FAQ for "interchange rate")
So your 1.49 and 1.55 may not be exactly what you pay - other than absolute base rates. You need to verify before you sign up.

Cristian.
of course I am going to read all fine print before signing to anyone. but that is what my email say from a moneris rep quote. non qualified and key in add .25%. yes the interchange is a lengthy long chart too much to write it down. but those number are before card brand fee which I posted earlier for moneris at .125 and evalon at .09
Sr. Member
Nov 24, 2007
501 posts
74 upvotes
Jermyzy wrote: Does anybody use Helcim? I'm looking to switch credit card processors. Any experience with their service? Here are there rates:

https://www.helcim.com/ca/pricing/visa- ... nge-rates/
Those are the Interchange rates, not what they charge you. Click on the large-volume page to see what Cost+ price you pay. Under 50k a month would add .18% to the interchange rate as well as 8 cents per transaction.
Deal Fanatic
May 22, 2003
9325 posts
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Vancouver
RJones89 wrote: Those are the Interchange rates, not what they charge you. Click on the large-volume page to see what Cost+ price you pay. Under 50k a month would add .18% to the interchange rate as well as 8 cents per transaction.
Sorry, you are correct, here are there rates:

https://www.helcim.com/ca/credit-debit- ... s/pricing/

How do these compare to rates from companies like Moneris? I like how their pricing is transparent. Are these the current rates for Moneris?

http://www.moneris.com/merchant-support ... 23_15.ashx

If so, it seems Helcim is significantly cheaper?
Deal Addict
Jul 21, 2004
1426 posts
378 upvotes
Jermyzy wrote: Sorry, you are correct, here are there rates:

https://www.helcim.com/ca/credit-debit- ... s/pricing/

How do these compare to rates from companies like Moneris? I like how their pricing is transparent. Are these the current rates for Moneris?

http://www.moneris.com/merchant-support ... 23_15.ashx

If so, it seems Helcim is significantly cheaper?
You likely won't get interchange plus with moneris if you are a small business owner.

It depends on each transaction size. if you are charging less than $100 each then 8 cents per transaction can have a huge impact it is 0.08% or more. as well you will lose out if most transaction are plain card because you are stuck with .18% plus 8 cents. vs typical POS at based plus card brand up charge.

I made a spreadsheet to compared all the merchant and the typical volume and charges to see what works best for me.
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Mar 5, 2012
758 posts
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Canada
Anyone figured which is better between Helcim, Moneris and Elevon from Costco? Or even Chase, I see it often at retailers.
Thank you.
Member
Feb 18, 2014
325 posts
86 upvotes
BigKids wrote: Anyone figured which is better between Helcim, Moneris and Elevon from Costco? Or even Chase, I see it often at retailers.
Thank you.
Depends on a few factors.

1. How much of your credit card fees are non-qualified

2. Average Transaction Size

3. Brick and mortar, virtual, or ecommerce. How are you processing your transactions

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