What is interchange plus in payment processing?

Interchange Plus pricing for payment processing by Clearly Payments

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 …

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History of Credit Cards

There is a long history of retailers or financial institutions providing credit for customers. In the 1800s and early 1900s, imagine going into your local general store and telling John to put it on your tab. Some store turned this into a paper card to track your purchases.

Now fast forward to 1950 and the …

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How to create a return policy

A return policy is a must. Whether you allow returns or you don’t, a policy should be clear. There are statistics out there that around 10% of items purchased are returned and the number is even higher for online purchases, sometimes in the range of 25%. Having a clear policy sets expectations with your customers. …

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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 …

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