ICS Merchant Services

Across the nation, businesspeople just like you are looking for ways to make their businesses more profitable. Is it possible that important information on how to increase profits has eluded the masses? YES! ICS was founded after learning one thing: HOW THE CREDIT INDUSTRY WORKS.

Business owners frequently say, “I know how that credit card stuff works, so I pay all of my accounts off in 25 days! They never get any more of my money!” What they are referring to is interest is on their own credit card usage. This has nothing to do with the credit cards that they accept as payment at their business.

Each time you swipe a card there is a huge opportunity to increase your profits!

The process of a credit card transaction involves more steps than most merchants realize. At each of these junctures fees are charged to you the merchant.

Discount rates are what determine the fees that you pay to the issuer for processing the transaction. They are called discount rates because they are fees that are deducted or “discounted” from each of your transactions. And not all transactions are the same.

Depending on the type of card and how the transaction is processed, you are charged different rates! The rates that you are charged can range from low to high.

Qualifying transactions (QUAL) give you the best rate and are most likely your most common transaction. Let’s say you swipe a card and process a normal transaction. Most likely, this will fall into the QUAL bucket and you will be charged the best rate. But what if the card is damaged?

If you cannot swipe the card and need to key the number in by hand, the transaction will not be considered a qualifying transaction. Instead, it will most likely fall into the MID-QUAL bucket for which you are charged a higher rate. But wait, the rates can get even higher!

NON-QUAL transactions are the most expensive for you to process. Customers who use certain types of rewards card or corporate cards will make transactions fall into this category.

Many times, merchants just like you don’t know what causes a transaction to be charged at a higher rate. Here are just a few examples:

• If you accept tips
• If a traditional rewards or signature rewards card is used
• If you key in a transaction by hand
• If you take a telephone, mail or internet order
• If you forget to settle or batch your transactions daily

To make it even more elusive, the rate of each bucket is different for nearly every type of merchant. For Visa alone, there are over 70 rate categories which fall into the three buckets! So what does this mean for you?

You need to partner with ICS so we can help you keep more of your hard earned money in your business! ICS will analyze your current credit card processing statement and find the places where you can save the most money. We will work with you to reduce your cost of doing business.

Request more information or call us today at (866) 818-4898