cc processor fee question

[wafers]

hello guys, anyone knows what are those rates mean? I have 2.3% discount rate and $10 monthly statement fee, but I am getting more than $40 every month for doing under 1k.

Discount rate tier description
Rate 1 Blank
Rate 2 rate 1 +1.50%+9 cents
Rate 3 rate 1+1.90%+13 cents

Business card 1 rate 1 +1.10%+9 cents

[mcguffin]

Welcome to WebmasterWorld, Wafers.

The 1.50% and 1.90% are probably surcharges based off of how the transaction was entered.

The highest level of security (and lowest risk) is when a merchant physically swipes the card.

If a merchant has the card present but only keys in the number, there's a lower level of security (and a higher level of risk and chance of error/fraud). That leads to a surcharge.

If a merchant takes a credit card number over the phone, never seeing the card, that's the lowest level of security (and highest level of risk and chance of error/fraud).

Corporate cards, because of how they work, tend to have a surcharge to them as well.

The $0.09 and $0.13 fees look like inquiry fees per transaction.

Hope this information helps you.