Merchant Rate Quote Q&A

Merchant Rates Quote Questions and Answers

Do you have a sample rate quote proposal?

Our Merchant Rates Calculator delivers an instant Interchange calculation for accepting credit cards. A sample quote may be seen at Business Proposal Sample.

What are the best merchant rates possible?

May we make a suggestion? Look for the best merchant rates provider instead. Consider a value package of rates, service, terms, solutions, incentives and testimonials. ALL merchants large and small should seek an Interchange rate price structure to achieve the lowest possible rates. But don’t stop here; there are many other elements that impact your bottom line costs. So focus on your total costs of service when selecting a payment processing partner.

What other fees are involved?

Every fee is shown on the Vantage Merchant Rates quote for the merchant services costs of accepting MasterCard, Visa and Discover including a detailed breakdown of Interchange, Assessments, Access fees, processing fees and all other fees. Speak to your personal Payment Analyst for a quote on PIN Debit, AmEx, EFT or other payment services as needed and to select the payment technology right for your business.

I was quoted a flat rate of 1.x%...why are your rates higher?

Advertised rates like this are only the tip of the iceberg. And you are familiar with the Titanic, aren’t you? The advertised “rate as low as” may be the only rate you were quoted but it won’t be the only one billed. A closer look will show our rates are lower and it’s simply a difference between “marketing” and “full disclosure”.

What are the merchant account rates when issuing cardholder credits?

On the Vantage Merchant Rates quote, you will see the Credit Voucher Interchange rate schedule for Visa, MasterCard and Discover. These are the rates that are used to calculate the amount of money to be returned to you when you process a cardholder credit. For more information on credit voucher Interchange read "The Essential Merchant Guide to Card Payment Refunds".  

Where do I find payment solution pricing on the Merchant Rate quote?

While Interchange rates are a known commodity and well suited for a web based quote engine like MerchantRates.com, there is no substitute for a professional consultation with a Payment Analyst. Payment technology is constantly evolving and many options are available. Only after a conversation to gain a better understanding of your business, your existing infrastructure and your needs can we make appropriate recommendations. In many cases we work with what you have. Otherwise, we provide a full line of payment solutions for every industry, competitively priced and as transparent as the rest of the Vantage quote.

Does Vantage offer American Express merchant services?

Yes. Multiple processing options are available including plural interface processing (PIP) and high speed IP. Your Payment Analyst will quote AmEx transaction fees if any apply and if you are new to AmEx acceptance, we can provide all the rates and incentives available as well as establish service for you.

How can I qualify for the lowest corporate card merchant rates?

Commercial card products like Corporate, Business, Purchasing and GSA Purchasing cards require a Level 3 merchant account to qualify for the best available B2B Interchange rates.

What does it cost to accept PIN debit transactions?

PIN debit pricing consists of a transaction fee plus the U.S. Debit Network Switch and Interchange fees. Each debit network has its own fee schedule detailing the cost by industry and any maximum Interchange if available. Speak with a Payment Analyst who can examine your merchant statement and provide a PIN debit break even analysis to determine if PIN acceptance is right for your business as well as provide a quote.

What is the term of the Vantage merchant agreement? 

Our agreement is a true month-to-month term and reads like this... "This Card Services Agreement shall remain in full force and effect for an initial term of thirty (30) days. This Card Services Agreement shall be automatically extended for successive thirty (30) day periods on the same terms and conditions expressed herein…"

Are there any Exit fees to terminate?

No. And while we are on this topic, be careful. Read the fine print of all agreements for yourself. Don’t take anyone’s word for it. Many times it’s a matter of semantics, renaming the early cancellation penalty a de-conversion fee or some other invented legal term.

I’m currently in a contract, should I wait before making a switch?

Your Payment Analyst can help you create a break even analysis. If you have to pay a $500 exit fee if you terminate before the next two years when your contract is up, but your lower merchant rates would save you $1,000 a year, it becomes a straight forward business decision…$2,000 in savings lost trying to avoid a $500 termination fee.

Would your company be willing to pay our current contract cancellation fee?

We can’t risk picking up the tab of your existing cancellation fee unless we force you to process with us long enough for that transaction to make financial sense. Instead of getting the lawyers involved, we prefer to give you the best merchant rates and let our savings offset any cancellation fee from your previous processor as quickly as possible. Companies that offer to pay your cancellation fee are usually only locking you into an even richer cancellation fee with them. What you really want is to not switch from one bad contract to another but to make a switch to a true month-to-month term.

How often do your rates increase?

Our processing program is designed to keep your rates highly competitive. Our agreement is month-to-month and you can cancel at anytime. Can you think of a better incentive? We are not just offering the promise of good service and low costs, we have to perform every month to keep your business. We follow and track Interchange and Assessments changes that impact our clients on our Vantage Viewpoint blog and our Interchange Announcements page. And with the Merchant Rates calculator quote tool you can always check to make sure your rates are competitive by running a new quote anytime.

Where can I find reviews and testimonials on Vantage Card Services?

Read about us, our history, our merchant account guarantees and merchant testimonials.

How quickly can I be up and running?

Once we have the complete paperwork, the typical turn around averages just a few business days. If you are buying a terminal allow extra time for it to be programmed, tested and delivered. If you are going with a virtual terminal or touch tone capture, next day is likely. If you require a rush, just let your Payment Analyst know and they will help expedite your service.