Getting the cheapest payment processing

Payment Processing with Clearly Payments

Merchants are paying too much on payment processing. That’s a fact. Most merchants have the opportunity to save significantly on accepting payments if they follow a few simple strategies. We know this first hand. Many merchants are paying 3% to 6%, which is very high, including transaction fees ranging from $0.10 to $0.50, in addition […]

It’s time to get rid of MDR in payments – Merchant Discount Rate

Merchant Discount Rate in Payments Needs to Go Away

Merchant Discount Rate (MDR) sounds like a good thing. Who doesn’t want a discount? But the term is highly misleading. Watch out. When you hear MDR from your payment processor, think hidden fees. What is a merchant discount rate (MDR)? There are several pricing models in payments and MDR is used in the “tiered” pricing […]

Dentists reduce credit card processing cost with wholesale membership plan

Dentist Payment Processing

The fees for payment processing add up. Many dentists don’t know how much they are paying, but they do know they are paying too much. All too often, dentists think they have low fees, but in reality, they are paying 3% or more. It is important to state this clearly: no dentist should be paying […]

Reading your credit card statements

Reading credit card statements is complicated. There is no standard and there are no regulations enforcing a pricing method. There is a credit card processing code of conduct, but it is not enforced because it is more of a recommendation. We’ll take you through a few things that will help you read and understand your […]

Getting the lowest credit card processing fees in Canada

Getting good rates from a credit card processor is tough but not impossible. It can be complicated to understand your rates. Credit card processing has some of the most complex pricing of any industry. We’re trying to remove that complexity or at least make it so you don’t need to care about it. Here are […]

The top tricks for Canadian credit card processing companies

Most Credit Cards are Supported by Clearly Payments

You need to make sure you have good rates as a merchant. If you don’t have good credit card processing rates, it means less cash flow for you. You have higher costs, less profit, and will potentially need to resort to higher prices for your customers. It’s a downward spiral that makes it hard to […]

Ways to get the cheapest pricing in payment processing

First, just because a payment processor says they will get you 1.54% rates does not mean that is what you will pay. It’s unfortunate but true. Keep in mind, it is possible that there is a credit card type using a particular payment method that will give you that rate, but 99% of your transactions […]

Interchange Plus Pricing for Merchant Accounts

If there is one point you should take from this article, it is that Interchange Plus pricing is by far the most merchant friendly pricing model in credit card processing. If you don’t have interchange plus, get it. It is the model that is most difficult to have unexpected fees and it is the easiest […]

What is interchange plus in payment processing?

Interchange plus pricing, sometimes called cost plus, is on of the less common ways that payment processors price to merchants. There are other forms of pricing, such as flat rate and tiered. In the end, interchange plus is regarded as the most transparent and fair for merchants. That’s why it’s not used very much. Tiered […]

What are basis points?

When you’re in payments, you’re in an industry with thousands of competitors in a complex value chain. In fact, most of the industry involves just a handful of very large banks. However, the industry is so big that very large companies can be built by just taking a sliver of the industry. That’s why basis […]