Interchange management is the art of ensuring that every credit card or debit card transaction qualifies for the lowest rate possible for the type of card presented for payment. I call that watching your back.
If you get a great price plan, but you aren’t qualifying for the lowest interchange levels, you’re paying more than you need to.
A qualified professional understands what levels of interchange YOUR BUSINESS qualifies for when presented with different types of transactions and different types of credit cards (consumer, corporate, rewards, debit etc), and reviews your transactions to make sure you hit them.
For example, a credit card transaction at a real estate company that could qualify at 1.10% could just as easily qualify at 2.04%. This is not a transaction downgrade because the merchant made an error. This is the same transaction with two different processors. Both might be correct in their own way, but the merchant would certainly prefer 1.10%. Should I reveal how this happens so anyone can read it?
Sorry, not today. Please call for a personal merchant statement analysis at no charge, and if you are suffering from lack of interchange management, I’ll show you exactly where and discuss options to fix them.
BTW The extra money from different interchange qualification isn’t going to your salesperson or the processing company, but largely, if not all, to the card issuing bank. Salespeople are not compensated on interchange qualification since the company or division they work for does not profit or lose based on how you qualify. At least, I’ve never heard of one offering this type of compensation which would be a nightmare to track.