Our Pricing Information

What You Don't Know...
You Don't Know!

Unfortunately, the credit card processing industry is what we affectionately refer to as a "need not to know industry." 

Business owners and merchants who do not understand the truths and myths about merchant services pricing, can and most likely will pay dearly by paying unnecessary junk fees and grey area pricing that credit card processing companies are notorious for charging.

"THIS MERCHANT SERVICES PROVIDER CLAIMS TO HAVE THE LOWEST PRICES"

LESSON # 1:  No matter how big or small, old or new a credit card processing company may be, every credit card processing company receives the same interchange pricing from Visa, MasterCard, and Discover Associations. In fact, Visa and MasterCard Associations post their pricing on their respective websites:

• Visa Interchange Rates
  
  
• Mastercard Interchange Rates

"WHAT LANGUAGE ARE THEY SPEAKING?" 

LESSON # 2:  Whomever you speak with about establishing a credit card card processing account will determine what rates and fees you will pay to accept credit and debit card payments. If a business owner or merchant is properly educated, he or she can avoid paying those unnecessary junk fees and grey area pricing.

LESSON # 3:  What a representative of a merchant services provider does not tell you may be even more important than what they actually do say to you when trying to get you to sign up for a credit card card processing account. Therefore, it is strongly recommended that the representative provide you with an easy to read listing of all fees charged.

"INTERCHANGE PASS THRU PRICING"

For many years, large volume businesses were treated more favorably by merchant services professionals because this market segment insisted on better pricing. In order to meet the demand, credit and debit card processing companies use a unique pricing model know as "Interchange Pass Thru".

In the simplest terms, "Interchange Pass Thru" means "Cost +" pricing.  Credit and debit card processing companies pass their true cost from the different card associations directly to the merchant or business owner. The processing company then clearly discloses an additional fee(s) that is used to cover overhead expenses and to make a small profit.

Small to medium sized volume merchants, on the other hand, would typically be offered a completely different pricing model, best known as "Tiered Pricing".  

Instead of having the actual cost to accept credit and debit cards passed thru to merchants, "Tiered Pricing" blends nearly 500 individual pricing points into as few as three to four tiers. If you hear or see the terms Tier 1,2,3,& 4 or Qualified, Mid-Qualified, or Non-Qualified, then you know that the merchant services representative is using a "Tiered Pricing" model and this is not to your benefit.

LESSON #4:  Merchant services representatives do not like using the "Interchange Pass Thru" pricing model, because they have to fully disclose all fees being charged and in most cases, make a lot less money.

Since January 2008, Zeeke and Associates has exclusively used the "Interchange Pass Thru" pricing model with their customers.

"TIERED PRICING"

Tiered pricing is preferred by most merchant services providers because it is their way of being able to excessively charge for the vast majority of transactions and make huge profits.

LESSON # 5:  Merchant services processing representatives are in business to make as much money as they possibly can; therefore, when at all possible, merchant services representatives will use the "Tiered Pricing" model. By using "Tiered Pricing", it is much easier to hide excessive grey area pricing and thus the processor and their representative can and will make huge profits. 

LESSON # 6:  If a representative of a processor states, whether verbally or in writing a single rate (1.54%, or 1.62% or ........) to process credit and debit card payments, then you know that the representative is using the "Tiered Pricing" model. Immediately review LESSONS # 3, 4 & 5.

Insist that your merchant services provider only uses the "Interchange Pass Thru" pricing model and that your monthly merchant services statement displays detailed "Interchange Pass Thru" pricing!

"AVOIDING JUNK FEES"

By now, you are probably thinking how much more can I be charged to accept credit and debit cards in my business? The answer is a lot.

Remember the concept from earlier: What a business owner or merchant does not know can, and most likely will, cost them a lot of unnecessary junk fees.  There is no truer statement. 

Merchant services representatives and processors can and do charge a host of unnecessary fees.  Unfortunately, unsuspecting merchants and business owners agree to pay them, not knowing they are junk fees. Review the list of the most common Junk Fees vs. Zeeke and Associates' Recommended Processors' fees:

Though these are the most common Junk Fees, there are many others -- with new fees being introduced regularly.