How to Identify Tiered Pricing Flashcards
1
Q
What is Tiered Pricing
A
Pricing falls into different “bucket” rates
Processor decides which rate applies to which transactions
2
Q
Why does Heartland not use Tiered Pricing?
A
model does not offer transparency or control to merchants
3
Q
3 Buckets of Tiered Pricing
A
Qualified 1.6%
Mid-Qualified 2.6%
Non-Qualified 3.6%
4
Q
Why do competitors use tiered pricing?
A
Prevents the merchant from knowing what they are paying the card brands and what they are paying the processor?
