Can any merchant service provider really guarantee rates? The correct answer is “yes” and “no” as it depends what rate is being discussed. In the merchant processing industry, every time a business processes a credit card, multiple organizations charge rates for their role in the overall process.
Visas fees (card networks) and the issuing banks charge the majority of the rates and fees which is known as “Interchange.” These rates and fees are the same for all merchant service providers and are subject to change and cannot be negotiated. In fact ‘Interchange” is typically adjusted every year in April and October.
BinglePAY, as the merchant service provider, also charges a fee for our vital role as we handle authorization of all cards, deposits, customer and technical support and even the risk and underwriting of each account.
Our rate can be guaranteed because it is our fee and not associated with “Interchange.” Our fee is also the only fee that you can negotiate when setting up a merchant account. BinglePAY does guarantee that our pricing will never increase for the lifetime of your account and we provide full transparency in our statements, allowing you to always verify our rates.