Frequently Asked Questions


Why do you only accept established and enterprise merchants?

InterchangePlus Solutions focusses exclusively on larger processing merchants who can truly appreciate the high level of service we provide, at the special PASS THROUGH interchange plus pricing.

What if I am a new merchant who does not meet the $50,000 per month threshold?

For new and emerging companies, we offer a specially designed interchange plus program through our sister company START Merchant Services. Once START merchants meet the IPS threshold, we will convert your processing to InterchangePlus Solutions.

How long does it typically take for funds to be deposited into my business checking account?

The typical time period is 2 to 3 business days for Visa and MasterCard. American Express and Discover typically take 3 to 4 business days.

How can you offer Visa/MC processing at rates so much lower than other processors?

Because we only offer ‘interchange plus” pricing. With “interchange plus” pricing, merchants simply get charged the actual cost to process the cards they accept, plus a small markup to cover the cost of Authorization, Capture, Settlement, Support, Risk Management and Revenue.

Because there are over 400 Interchange MasterCard & Visa Rate Categories, most processors “simplify” the complexity of Interchange by “bundling” merchants’ Visa/MC rates into the ARTIFICIAL CATEGORIES of Qualified / Mid Qualified / Non Qualified.

This allows processors to successfully hide what we believe are excessive profits by forcing inexpensive cards like Debit cards into the Qualified category, and Rewards & Corporate cards into Mid Qualified and Non Qualified categories. The fact is that most merchants accept approximately 10 to 12 different Interchange categories of Visa/MC under normal business conditions, so why not show merchants their actual costs?

Will I be locked into a contract I can’t get out without paying penalties or cancellation fees?

NO! You can terminate your Merchant Account agreement at any time. As long as you adhere to our simple termination procedure, there are no penalties or fees of any kind. Our agreement states:

“The Agreement may be terminated by Merchant at any time during the initial or any renewal term of this agreement provided Merchant does so in strict adherence to the Termination Procedure contained herein. Merchant may only terminate this Agreement in writing 30 days in advance of signing with another service provider.”

What is interchange?

Interchange is the clearing process that card associations facilitate to settle transactions between banks that issue credit cards, and banks or service providers that process card transactions for merchants.

The interchange process makes it possible for customers with credit cards from hundreds of different banks to make purchases at thousands of merchant locations. As part of the interchange process, card associations charge banks or service providers that process card transactions an interchange fee for each transaction.

This fee goes to the cardholder’s bank, the issuer, as compensation for expenses incurred in providing lines of credit to cardholders. Interchange fees make up the largest part of your merchant discount rate. The other part of your discount rate—the processing fee—compensates the bank that provides authorization, deposit, and settlement services for your transactions.

Besides cost savings, are there additional benefits to “interchange plus” pricing?

Yes. On the monthly statement, you will actually see the exact card types (the Interchange categories) such as debit, rewards, corporate, etc being used at your business; this provides valuable insight into the demographics and payment preferences of your customers.

I want to accept Debit or Check Cards in addition to credit cards. Do you offer that service?

Yes, you will automatically be able to accept Debit or Check Cards as well as Credit Cards. And many merchants that accept large numbers of Debit and Check Cards realize some of their most dramatic cost savings with “interchange plus” pricing.

How can I get more information about your services?

You can e-mail us at info@InterchangePS.com, call us at 888-573-PLUS (7587), or complete our online form.

How do I find out your prices on point of sale equipment – such as terminals, printers, pin pads, etc.?

Please e-mail us at info@InterchangePS.com and an Account Executive will contact you within 1 business day. You can also call us directly at 888-573-PLUS (7587) and select East Coast Sales at extension 102 or West Coast Sales at extension 101, depending on your location.

Can I use someone else’s merchant account to do my transactions?

No, this practice is known as “credit card laundering” or “factoring.” It is against the Visa® and MasterCard® agreement. Using someone else’s merchant account to process your credit card transactions can lead to heavy fines and perhaps more. In addition, you’ll also put that merchant’s credit card processing account in jeopardy.

What is a chargeback and what do I do if I get one?

A chargeback is a processed credit card transaction that is reversed (charged back) to a merchant because the customer or customer’s bank finds something wrong with the transaction.

There are several reasons a transaction can be reversed:
Authorization error—a transaction was allowed even though the authorization was declined
Processing error—incorrect calculation on the sales draft, invalid account number, or expired card
Customer disputes—the customer denies taking part in the transaction, claims purchased merchandise or services were never received and an attempt was already made to resolve the dispute, mail order merchandise was defective, or a promised credit was never processed

If you get a chargeback:
Follow the procedures in the chargeback documents you receive in the mail. We provide detailed information on chargebacks, tips on how to avoid them, and instructions on how to handle all common Visa and MasterCard chargebacks. To learn more about chargebacks, please visit http://www.InterchangePlusSolutions.com/support/fraud-prevention/

Why open an online store if I have an existing retail outlet? Won’t I be competing with myself?

Selling online offers “brick and mortar” retailers a great opportunity to grow their businesses through a cost-effective additional sales channel. Open 7 days a week, 24 hours a day, an online store is not limited by time or geography. And electronic commerce offers many new avenues for building a broader customer base.

PLEASE NOTE: Your Retail Merchant Account cannot be used to process transactions in real time on your Website. Please contact us to discuss setting up your eCommerce Merchant Account and Authorize.Net payment gateway.

Why are Visa/MC rates higher for eCommerce and Mail Order / Telephone Order (MOTO) transactions than Retail face to face transactions?

Face-to-face transactions where the credit card is swiped and a signature is being obtained are considered less risky by banks and processors. Therefore eCommerce and MOTO rates are higher because the risk of fraud and chargebacks.

Do you offer recommendations for eCommerce merchants to minimize risk?

Yes. We have many years experience working with Internet merchants and provide valuable recommendations to assist eCommerce merchants to help protect themselves by using common sense and best practices. In addition, Authorize.Net provides free basic fraud prevention with Address Verification and CVV settings. For a further level of fraud protection, Authorize.Net offers their Fraud Detection Suite (FDS).

What is PCI Compliance?

“PCI compliance” refers to compliance with one or more of the Payment Card Industry’s (PCI) Security Standards which have been put in place to protect cardholder data against potential compromise.

The PCI Security Standards Council (Council) currently maintains three standards:

  • The PCI Data Security Standard (PCI DSS) is the standard to which merchants and service providers must adhere for the complete protection of cardholder payment data. If a business accepts or processes payment cards, it must comply with the PCI DSS.
  • The Payment Application-Data Security Standard (PA-DSS) and PIN Entry Device (PED) security requirements support the overall implementation of PCI DSS by allowing merchants to choose from PCI l certified payment applications and PIN entry devices to further cardholder data security.

To learn more about PCI Compliance, please visit http://www.InterchangePlusSolutions.com/solutions/pci-compliance

How private and secure is your company?

InterchangePlus Solutions is committed to protecting your privacy. We know the information we collect is very confidential; that is why we keep it strictly private. Transactions are secure, and passwords are required to access the system. Only specific IPS employees are permitted to access electronic data. To find out about how we protect your privacy, please see our Privacy Policy.