O3Merchant Services would like to inform you that our industry has 2 ways of charging merchants.
Some merchants are getting charged traditional tiered method and some with interchange cost method.
In this method merchants get charged in 3-4 classes of pricing
Check Card (Debit Cards)
Qualified (Regular Credit Cards)
Mid Qualified (Credit Cards with Rewards)
Non Qualified (Corporate, Business & Foreign Cards)
This method is usually used for high volume merchants
“Interchange cost” is the portion that merchants get deducted by issuing banks for the cost of various cards & “plus” is the margin that O3 shares with the processor.