Help with Terminals, Pin Pads, Point of Sale Systems, Integrated Gateways and More
Our Merchant Processing Partners Include
Working with IC Plus takes the worry and concern about picking the wrong type of equipment for your business. Whether its EMV terminals and pinpads, PCI compliant processes and systems, Point of Sales Systems for your retail set up and industry or other industry specific needs, trust the experts at IC Plus to analyze and provide the right solution from day one!
We help clients with all type of payment types ranging from retail (customer facing transactions), cardholder not present payments (mail order/telephone order, recurring billing), commercial, to mobile payments for businesses on the go. All of our merchant services are based on the industries best, most transparent and straight forward pricing...interchange plus.
What is Interchange Plus Pricing?
Interchange plus pricing is a credit card processing pricing structure that separates the components of processing costs allowing for transparent reporting and interchange optimization often leading to lower costs when compared with other forms of pricing such as tiered or bundled. Interchange plus is the term used to describe a merchant account pricing model where a fixed markup is applied directly to interchange fees published by Visa®, MasterCard® and Discover®.
Interchange = Credit card processing rates set by the card brand (Visa, MasterCard, Discover).
The word "Plus" refers to the processor's markup that's applied to each credit card transaction. The markup is typically expressed as basis points (explained below) accompanied by an authorization fee.
Basis Points: A basis point is equal to 1/100th of a percentage point. A processor's markup is typically measured in basis points. However, any percentage-based fee can be expressed in basis points. For example, Visa's current interchange fee for a swiped consumer credit card is 1.54% plus a transaction fee of $0.10. Measured in basis points, this fee would be one hundred and fifty four basis points (1.54% = 154 basis points).
It is extremely important to look at the big picture when comparing credit card processors. If you simply focus on the basis point markup, the transaction fee, or another individual fee, you're setting yourself up for failure. What you really want to focus on is the effective rate for each quote.
Many factors such as business type, processing method, owner credit worthiness and others are used to determine the basis point markup that a processor offers. At IC Plus, we have over 20 years of industry experience in evaluating your business type, history, risk and what it takes to put you in the right pricing, platform and technology to minimize the transition!
Merchant Card Processing for Retailers, Restaurants, Commercial Businesses and More
I.C. Plus partners with only the best merchant processing platforms in the industry! Our partnerships with First Data, Sage, TSYS and others, along with our trained staff, provides clients with the right fit based on your unique needs, preferences and existing circumstances in order to help you save time and money in getting up and running smoothly, quickly and with interruption.