Test your knowledge with these True or False questions. 


Q: My business isn’t impacted by taking credit cards. TRUE or FALSE

A: False, while this may seem like a no-brainer, research shows that sales can double or even triple versus current sales. One financial management survey, found that 83% of small businesses that accepted credit cards saw increased sales. Fifty-two percent of those surveyed made at least $1,000 more a month and 18% made at least $20,000 more a month.



Q: I don’t understand my rates because the banks keep changing their Interchange fees. TRUE or FALSE

A: False, Interchange fees for the two largest card brands (Visa and MasterCard) change twice annually in April and October.


Q: A salesman told me he can get me a rate lower than Interchange. TRUE or FALSE

A: False, Every merchant is bound by the exact same interchange schedule. It is the markup from this schedule that determines what you will ultimately pay. The cost structure is the same for all companies, it’s the additional markup over cost that varies.


Q: I have control as to how much I am charged for every transaction. TRUE or FALSE

A: True, how you process a sale will impact your fees. It’s called Interchange Qualification, and it happens on a per-transaction basis. Factors that merchants can influence include:

  • Card Present-vs-Card Not Present- Transactions that are keyed in manually, are generally charged a higher rate, the reason being is the risk factor. You can blame those pesky thieves who tend to obtain credit card numbers more often than the actual cards.
  • Information is power, get enough information! The more information that is keyed in with a manual sale can save you money. If your business does a high amount of manually keyed transactions, your terminal or software should prompt for the info below…
  1. Street numbers
  2. Zip Code
  3. CVV2 Code

Obtaining this information will also help you in case of a chargeback.


Q: All ISO’s are the same, as long as I get a good rate it doesn’t matter.  TRUE or FALSE

A: False, not all ISO’s are created equal. Not only should your rates be a factor on what company you choose for your merchant services but customer service is a huge factor if there is an issue. Things like phone response time and how fast equipment is replaced, can play a huge role on your bottom dollar.


TransPay Processing has been servicing merchants processing needs since 1996, with a solid bank relationship and exceptional customer service,
make TransPay Processing your choice for merchant services.

 Direct (760) 776-5954 Toll Free (888) 205-7922