With a broad range of international banking relations, 247ccNow offers some of the lowest pricing in the industry.
1. Merchant Discount Rate
Merchant discount rate is a percentage charged from every sale amount. There are two ways your merchant account can be set up:
Interchange++
markup from 6.95%
Each transaction is subject to different interchange fees. Final rate for the merchant is a sum of Interchange Fee and Card Scheme Fee set by Card Associations (Visa/MC) and involved banks. On top of that a fixed markup added by the acquirer/processor. Interchange and Card Scheme Fee vary based on merchant and cardholder's issuing bank location and card type. Final rate can be as low as 6.95% for our EU/UK/US merchants.
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OR
Blended Rate
from 6.95%
A more traditional method of applying a merchant discount rate. A merchant may opt for this pricing model if they desire to keep things more easy. Every sale made by the merchant is charged with the fixed percentage fee. Final rate is determined by the payment provider during initial assessment based on risk category, sales volume and geographical distribution, it can be anywhere between 6.95%-9.50%. We use this model mostly for high risk non-EEA merchants.
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2. Processing Fees & Standard Terms
In addition to above rate, below fees are added. Final fees may vary based on acquirer used for MID setup.
