![]() If you process with Heartland as an interchange-plus pricing customer, you can calculate your Heartland effective rate to see how much goes to the card brands and issuers and how much actually goes to Heartland. Calculating your effective rate can give you a gut check each month on your processing spend. The effective rate is the best way to see the overall percentage you pay for processing. Your effective rate is your total processing fees divided by your total deposits (your sales volume during the month). For flat-rate processing, you’d look to your statements to know what cards you accept most, estimate your sales and whether you complete more card-present or card-not-present transactions to get a sense of what you’ll pay in processingĮffective rate is a calculation that a lot of merchants use to keep an eye on their costs without having to get so deep into the weeds. It’s a lot of work that may or may not yield the results you’re looking for. For business owners that use interchange-plus processing, you’d have to really dig into your merchant statements to know what card types you’re accepting most and try to forecast what you’re likely to accept. ![]() Credit card brands usually include their interchange rates on their websites. Merchant service fees (for the ability to access the authorization network necessary for processing transactions and for value-added services like PCI compliance assistance, EMV capabilities, etc.)Ĭan I calculate estimated payment processing fees? Interchange fees (that go to the credit card brands and card issuers - usually the bulk of what you pay) But at Heartland - and in general - you can expect your processing fees to include: Your total processing costs will vary based on many factors unique to your business. Unlike other payment processors, we pass through the true wholesale cost to merchants without inflated costs, markup or hidden fees. For interchange-plus customers, it’s important to note Heartland doesn’t receive any portion of interchange fees – which include dues and assessments, discount per item (DPI), and discount % rate fee. Your pricing structure and contract with Heartland will determine what you see on your merchant statement. Should you opt-in to subscriptions, you’ll see fees for those services in their own section, Value Added Services Fee Summary. Value-added services: Heartland offers many services to help maintain and grow your business: from gift card, instant deposit, and surcharge programs to the many add-ons to our Retail and Restaurant POS systems that harness your data to work smarter, not harder. Many payment processors expect you to find a vendor on your own, which can be expensive.Įnrollment in the Merchant Protection Plan covers you up to $100,000 in the event of a data breach.Īccess to InfoCentral: an online portal through which you can easily access your account data, including batch information and state-of-the-art security features to keep your and your customers’ data safe. Service and regulatory mandate: This is the monthly fee to maintain all of the great services you can expect from Heartland, including:Īccess to Sysnet, our trusted partner for validating your PCI compliance. Heartland charges a minimal fee to settle monthly instead. daily discount cost: Card brands bill and settle payment processors daily - this can be a big task for some small businesses. Transaction fee: This fee is for the attempt at running a transaction for passthrough payment processing services to debit and credit card companies. These fees may show up on your statement as:ĭiscount fee: This fee is what Heartland charges to a merchant for passthrough payment processing services to debit and credit card companies. Interchange processing costs as they move through the credit card authorization network. Credit card transaction fees What are Heartland’s processing fees? We’re here to answer frequently asked payment processing questions related to the MBOR and re-affirm your rights to transparency, competitive pricing and the best possible value for payment processing. We believe in making it easy for merchants to understand processing. ![]() We’re the only processor to establish a Merchant Bill of Rights (MBOR) that promotes fair credit, debit and prepaid card processing practices. At Heartland, we pride ourselves on giving you the transparency you deserve. As a business owner, you deserve to know exactly what you’re being charged for when you accept credit card payments. A single swipe, dip or tap sends a payment on a journey that isn’t always clear to consumers or entrepreneurs. No doubt about it, payment processing is complex. Frequently asked questions and merchant bill of rights
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