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It’s important for small business owners like yourself to understand the pricing plans offered by various credit card processors (or merchant service providers) in the market, so you can compare their processingcosts before you decide who to sign up with. Q: What security measures are essential in credit cardprocessing?
Interchange plus pricing Interchange plus pricing is a pricing model that charges based on whatever the interchange rates are at that particular moment, “plus” a markup fee that pays your processors processingcosts — e.g., 2.1% + $0.10 This software needs to be EMV compliant to handle chipcard transactions securely.
Similarly, the size of your business and the volume of credit card transactions you process can influence merchant service providers to offer volume discounts or more favorable terms, lowering overall processingcosts. However, there are ways they can avoid some of those costs.
EMV Chip Technology EMV (Europay, Mastercard, and Visa) chips generate unique, one-time codes for each transaction, making it much harder for fraudsters to clone or counterfeit debit cards. PCI DSS Compliance This is the cornerstone of debit cardsecurity.
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