Lighting Store

Traditional Program

SIMPLE AND TRANSPARENT 

What Is The Traditional Program?

Credit Card Purchase

Our Traditional Program is interchange + plus pricing, also known as ‘Wholesale Pricing’ are the lowest attainable rates available.  It works by passing through your credit card transactions at their respective interchange rates with only a small markup added.

Interchange plus is the most desirable form of merchant account pricing both for its transparency and potential to allow for lower costs. You pay exactly what the card brands rates are with our fixed margin rate. That's it! Your savings can be thousands.

Credit Card

What Is Interchange?

Interchange is a percentage fee paid by the merchant’s payment service provider at the time of a card transaction to the cardholder’s issuing bank. The interchange fee covers the card issuer’s handling costs including the risk measures performed during transactions. Simply put, interchange is the exact cost the card brands charge to process that specific card. 

STOP OVER PAYING FOR  CREDIT CARD PROCESSING

Image by Giulia May

Why Tiered Pricing is Bad

Tiered merchant account pricing is currently the most common form of pricing for credit card processing services. Tiered pricing is not transparent, it's expensive and it's the vehicle for many hidden fees that plague the credit card processing industry. JollyPayments does not use tiered pricing.

It’s Expensive

Tiered pricing is a costly pricing model. At JollyPayments businesses save up to 35% or more on credit card processing charges by switching to our Interchange + Plus Traditional Program.

Conceals the True Cost of Processing

A processor doesn’t disclose the actual cost. Instead, only the processor’s qualified, mid-qualified and non-qualified rates are visible. By hiding interchange fees, a business is never shown the actual cost of its processing. Thus, the processor has the ability to charge markups that are often exorbitant.

 

Tiered pricing rates are usually categorized as either qualified or non-qualified, although many providers also include a mid-qualified rate as well. In addition to setting their own rate schedules, each provider is free to set their own rules regarding whether a transaction will fall under the qualified, mid-qualified, or non-qualified category. As you might expect, qualified transactions have the lowest processing rates, while non-qualified transactions have the highest. What you might not expect is how much of a difference this determination makes in your actual cost. In general, non-qualified rates can be as much as two to three times higher than qualified rates from the same provider.

 

Some Processors will quote you a "Discounted Rate" or "Qualified rate" but actually they add "other tiered rates" to your Qualified or Discount Rate making your actual cost two to three times higher. The tiered rates are grouped together on top of your Qualified or Discount Rate. These tiered rates are called "Non-qualified" and "Mid-qualified rates." Most of your transactions will fall under higher rates in a tiered system.

 

Increased Cost, Same Rates

Tiered pricing makes it possible for a processor to increase a business’s processing cost without increasing its rates. Processors accomplish this by routing a greater number of interchange categories to the more expensive mid and non-qualified pricing tiers. 

Look At Your Credit Card Processing Statement

Look to see if your set up with a tiered program. If you see terms on your statement such as Qualified "Qual", Non-Qualified or "NQual", Mid-Qualified or "MQual", Standard or "STD", Level 1, EIRF, DR1, CNP, Bill-Back ERR, APR BB, EBB, Discount rate.

If you see terms like these? Your are on a tiered program and are paying too much for merchant processing. Switching over to JollyPayments Traditional Program will save you up to 35% or more!

We can go over your current processor statement and breakdown the costs associated with your current processing statement. 

                 Stop Over Paying For Credit Card Processing!

Simplified Batch Processing

No Monthly Minimums

No PCI Compliance Fees

No PCI Annual Fees

No PCI Regulatory Fees

No Processing Contracts

24/7 U.S.-Based, In-House Technical Support

No Set Up Fees

No Non-Qualified or Mid-Qualified Fees

Free Online Merchant  Transaction Center

Plus, we offer no mark-up pricing on any of our point-of-sale systems or terminals

How is Our Traditional Program Different?

JollyPayments Traditional Program, also know as Interchange + Plus, gives business owners direct access to wholesale pricing. Our Program can save your business up to 35% or more by switching to our Traditional Interchange + Plus Program!

Interchange rates are the wholesale processing rates set by Visa, MasterCard, and Discover, and they differ according to card type and transaction type. i.e., swiped, key-entered, or online.

With our interchange plus pricing, our small margin is a fixed percentage over actual interchange rates. The markup stays the same regardless of the type of card or how a transaction is processed. The result is a low consistent markup over actual cost.

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         Simple Transparent Pricing. 

We offer fair and equitable pricing, with clear costs, no hidden fees, no crazy bait & switch    rates, no games! We never nickel-n-dime you with ridiculous fees that other traditional                         processors charge. Choose what pricing program works best for you.

Traditional Program

Save up to 35% or More

14.95 Flat Monthly Subscription                  With Unlimited Processing

We offer interchange plus pricing, also known as ‘Wholesale Pricing’ are the lowest attainable rates available. No more tiered-rate plans, pay your interchange and assessment fees at-cost. No More Downgrade charges!

Interchange plus is the most desirable form of merchant account pricing both for its transparency and potential to allow for lower costs. You pay exactly what the card brands rates are with our fixed margin rate. That's it!

                        Fixed Margins

      Above Interchange Per Transaction

Visa /Mastercard/ Discover ...  0.39% + $0.12

American Express...................... 0.30% + $0.12 

*Amex Card Not Present Surcharge  0.30%  Added onto Keyed Transactions. 

Even lower rates for high volume accounts

             Traditional Program

                       Pricing Per Occurrence

Costs....................................................JollyPayments

Interchange + Margins .........................0.39% + $0.12

American Express Interchange +.......0.30% + $0.12

Interchange Costs...............Passed-Through at Cost

Card Assessment Costs....Passed-Through At Cost

Batch Cost.....................................................$0.10/Batch

Monthly Minimums.................................................None

Annual Fee.................................................................$25

AVS Cost................................................$0.05/Instance

Retrieval Cost............................................$25/Instance

Voice Authorization...............................$1.75/Instance

PCI Compliance & Regulatory Fee.....................None

PCI Non-Compliance (If Applicable)........$20/Month

Wireless Billing (If Applicable)...................$20/Month

Charge Back Fee.................................................$35.00

ProCharge Virtual Gateway..................................FREE

eGift Card Processing (No Fees).........................FREE

Merchant Reporting............................................... FREE

Valor Cloud-Portal (If Applicable)..........$4.95/Month

      

 

Unlike most other merchant account providers. JollyPayments Electronic Payments platform does not charge higher margins for e-commerce businesses. The above margin rate is the same for retail or online.

FAQ

Who Is This Traditional Program Perfect For?

Our program is perfect for those businesses that are looking to save money and process payments on a simple, transparent program without any hidden fees. 

Will I Know How Much Money Was Paid To The Card-Issuing Banks, How Much Went To The Card Association's and How Much To JollyPayments?

Yes, your wholesale Pricing’ are the lowest attainable rates available. Wholesale Interchange pricing + our fixed margin. You pay exactly what the card brands rates are with our fixed margin rate-card brands $0.39% + $0.12  & Amex  $0.30% +$0.12

I Want To Save Up To 100% Of My Business Credit Card Processing Fees. Will This Program Help Me Do That?

If your business is looking to offset up to 100% of your processing fees, Then JollyPayments Cash- Discount Program would be a better fit for your payment needs. You can learn more here

My Current Merchant Processor Charges Me A Flat Rate-Fixed At 3% For Every Transaction. Am I Paying Too Much?

Most of the time you are. Let's dive into that. Each card you accept has a different interchange rate (The wholesale rate the card brands charge for that specific card).  

 

When the customer uses a credit card to purchase your service or product, you have no idea what specific interchange rate that card is. You accept the card and the payment is processed. If you are using a tiered or one fixed rate percentage you may be paying way over the actual cost of that specific card. 

Let's have an example. If the card you accepted at your retail store front was a typical type of card, a Visa CPS Retail. The Card Association Interchange wholesale total rate is 1.65% + JollyPayments Margin 0.39% = 2.04%.  If your every transaction rate is 3%, you overpaid by .96% or almost 1%. If you were on a tiered program you could have overpaid by two to three times that amount. Switching to our Traditional Program not only saves you money but you know exactly what you are paying and who get's what. 

 

JollyPayments Electronic Payments processing is transparent, fair and equitable pricing, with clear costs and no hidden fees.

What about American Express?

We offer our merchants an all-in-one solution with one statement, one deposit and one servicing contact for all the major card brands you accept. That means less paperwork and a simplified back-end process.  We handle you AMEX billing, funding and support in-house. We offer lower rates, next day funding, no monthly statement fees, consolidated reporting in one statement.

Learn more about or OptBlue American Express Program on the bottom of our pricing page -Go here