Accepting credit cards in person or online is a requirement for most small businesses. If you online accept checks or cash you could be missing out on a lot of sales. It’ s obvious you need a credit card processor but the problem is choosing one with the hundreds of options that are available to you.
Luckily, at Ruskin Consulting, we have a very good relationship with the banks and can save over 90% of businesses money on their credit card processing! These credit card companies aim to confuse you with complicated jargon such as: 2 tier system, non-qual cards, qual cards, batch fees, ACH rates, etc. But we’ re here to make this all easy for you.
In simple terms credit cards companies charge your business money to use their cards, “interchange rate”, so they can give their card users points.Depending on how much the credit card charges the credit card processor you use will determine if the credit card is considered a “quality card” or a “non-quality” card by your processor. Non-qual, “non-quality” cards charge you more to process them than qual cards.
So these credit card processors will usually put all these credit cards into two tiers, qual and non-qual, non-qual again costing you more. Some credit card processors will do three tiers and some will even give you a “flat rate” on all cards. One thing you should know though is that these different credit card processors determine on their own if a card is qual or non-qual. That means in order to get a fair comparison between different credit card processors you’ d have to look to see which cards each of them label as qual vs. non qual; and there are hundreds of credit cards to look through!
At Ruskin Consulting we do things differently. We offer simple, affordable pricing for all types of credit and debit cards. We can offer you a way cheaper and simpler solution with our interchange rate pricing model which gives small and medium size businesses the same low rates as large corporations! We don’ t put cards into confusing “tiers” like other companies. We process cards individually and give you a low cost interchange rate saving you hundreds or thousands of dollars.
So that’ s our solution! That’ s the way we ourselves a ton of money on our credit card processing and we want to pass our savings on to you. We want to be as transparent as possible and not hide behind our rates and tiers. You basically only get charged what the credit card changes you. In most cases this will be below 2% in processing fees in total! Please let me know if you have any questions or if you are interested in saving you and your business a lot of money and taking your credit card processing through us.