Retriever Payment



Interchange Cost Plus, Fees & Charges

At Retriever Payment Systems, we want to make sure all of our fees are explained UP FRONT!

We offer:
          NO Application Fees
          NO Monthly Minimiums
          NO early cancellation fees

In merchant credit card processing, there are two parts:  the equipment and the processing. 

Interchange Plus Pricing: 

Interchange Plus is the common name for a pricing structure for accepting credit cards in your business. Interchange Plus pricing means that the credit card processor (Retriever Payment Systems) charges you a variable discount rate consisting of the cost price (the card-issuing bank and Visa/MasterCard fees for running a particular credit card) plus a specified mark-up. This discount rate will then vary between transactions depending upon the characteristics of the sale including: card type (debit comes in at the lowest rate, then regular Visa/MasterCard credit cards, slightly higher are rewards, signature plus, and mileage plus cards, and higher still are corporate, purchasing, and international credit cards), channel of sale (face-to-face swiped transactions, keyed-in transactions, internet transactions, etc…), security measures involved (AVS or zip code confirmation, CVV2), and how long a transaction is held in the terminal or software without being batched out.


For example, interchange plus 30 basis points is not uncommon. In this instance, a merchant would pay just 0.30% above the true Visa/MasterCard cost.


This pricing structure should give you insight in the cost of your payment traffic (detailed in your monthly statement) and can also realize a lower total monthly payment cost.

Confused by the above words.  See the meanings in our glossary.

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