@collegeitdept if any retail merchant is paying over 2% effective rate, they are paying too much. Post Durbin debt rates are less then 1%.
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Replying to @BrianRoemmele
@BrianRoemmele you just blew my mind. Thank for you that insight2 replies 0 retweets 0 likes -
Replying to @collegeitdept
@collegeitdept thank you! It is hard to watch the media numbers. No true merchant account is marked up >75 basis points over interchange.1 reply 0 retweets 0 likes -
Replying to @BrianRoemmele
@BrianRoemmele and what's the base interchange rate?2 replies 0 retweets 0 likes -
Replying to @collegeitdept
@collegeitdept interchange reimbursement charts are Googleable. Typical effective (debit/credit) rate about 1.2% for most small merchants.1 reply 0 retweets 0 likes -
Replying to @BrianRoemmele
@BrianRoemmele wow. 1.2%. Where are people and retailers coming up with the 3-6% credit fees? When complaining about credit?1 reply 0 retweets 0 likes -
Replying to @collegeitdept
@collegeitdept this is the popular media %. If interchange is about 1% effective rate for retail and markup is 0.75, 5% is insane.1 reply 0 retweets 0 likes -
Replying to @BrianRoemmele
@BrianRoemmele we in the media had no idea it's only ~ 75 bps. So clearly we relied on retailer numbers. So where are retailers getting 5%?3 replies 0 retweets 0 likes -
Replying to @collegeitdept
@collegeitdept 2) Merchant accounts are the most competitive business and someone paying 5% will see 100s of calls to lower rates.1 reply 0 retweets 0 likes -
Replying to @BrianRoemmele
@BrianRoemmele calls asking for lower rates. Doesn't mean the banks will acquiesce4 replies 0 retweets 0 likes
@collegeitdept 4) So the question is how much is it worth to have a customer at your business with ready credit and no risk?
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Replying to @BrianRoemmele
@BrianRoemmele excellent point. Many fail to see. Especially very high end high net worth customers0 replies 0 retweets 1 likeThanks. Twitter will use this to make your timeline better. UndoUndo
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