Do I need to do PCI Compliance?
Yes, PCI compliance is a federally mandated program. Not having a PCI compliant system can make you liable for losses from card holders and Visa / Mastercard can come after you for breaching your agreement with them regarding processing their issued cards.
What is Interchange?
Interchange is assigned card rates from an association comprised Visa / Mastercard primarily. There is a transaction fee and a rate associated with all cards. This schedule of fees is the same for all businesses who process Visa / Mastercard / Discover cards other than Walmart. Where money is saved is from Bank Access Fees and Processing fees.
What is the best way to save money?
There are ways to save money on fees and Gold Star can review your statement and give you a straightforward way to simplify and save money. Many times businesses are running the wrong type of account and getting surcharged for missing data. That is a common way processors make more money. They show great rates on paper but when companies process credit cards they are signed up for the wrong type of account and usually don’t pay those qualified rates.