First-let us explain "Interchange"
Interchange is the actual cost charged to all Merchant Service Providers (MSP) byVrsa, MasterCard, and Discover to process a credit card transaction. These rates vary by brand and type of card (and also by the way the transaction is handled). Did you know there are over 200 Interchange rates charged by Visa, MasterCard and Discover?  The number of Interchange categories and distinctions between them is mind-boggling. but only a few are likely to concern you. In addition to Interchange, there are three rate dasses some MSP's will use:     

                                          Qualified        Mid-Qualified         Non-Qualified

•Costly problems arise when you are priced on a tiered-structure with qualified, mid-qualified, and non-Qualified rate. First. it doesn't reflect the lower discount rate you should receive, for example, when a customer pays with a debit card. Second, when a transaction "downgrades" you're probably paying a huge mark-up from the Interchange cost to your provider.

•Hyer Standards only offers "Interchange" plus priting. The "plus" is simply our markup over Interchange. Most major national retailers are set up on this pricing model. "Interchange Plus"
A business owner will dramatically cut costs and add money to their bottom line when they process with Hyer Standards.

What's my rate?  Calculating your rate for credit card processing services is not an easy task. Sorting through the maze of multiple offers, all daiming to have the lowest rate can be overwhelming. • Business owners just want to know what it is costing them. One simple way to determine what you are really paying for your processing is to first look beyond the discount rate and transactions fees, instead calculate the effective rate. This will take into account all fees paid for the month based on the total dollar volume processed.
• The effective rate is found by dividing your total processing charges for the month by the total credit card sales volume for the month. As an example:

• This will give you the most accurate measure of what you are paying. This is a helpful tool to use when comparing multiple offers. Please note; a lower discount rate does not necessarily mean a lower effective rate or mean you will save more money. Just about every credit card processor prices their services differently and using the effective rate calculation will answer your question, "What is my rate?"

• There are many factors to consider when choosing a processor to partner with, including expert personal service, multiple product offerings, professional customer service and a processor who invests in current industry technology and takes the time to educate their merchants on what they need to know and want to know!