Another client just contacted me after a sales representative from one of the processors told her that the rates he was offering were lower than what she was currently paying. The problem here is that they are two different pricing plans Interchange Differential and Interchange Plus. A common practice is to quote the base fee and the non-qualified fee but not mention the differential fee when quoting Interchange differential (some don’t even mention the non-qualified fee). The table below shows a comparison of some common fees between Interchange Differential and Enhanced Interchange Plus (“enhanced” means different markups for qualified and non-qualified transactions). Note standard Interchange Plus with the same markup for both qualified and non-qualified rates is more difficult to compare however in this example Interchange Plus .15% would roughly compare depending how and who you do business with. To receive an interactive copy of this spreadsheet that you can enter your own rates into contact us.
Click link for PDF: Differential Intch Plus comparison