He sold textbooks and lab materials to middle school teachers; teachers were reimbursed by the State after attending a workshop he ran every weekend.
Most orders were in excess of $100.
$100 * 0.10% + $0.30 = $0.40
$100 * 2.90% = $2.90
The trick is, if you don't know to ask for IPP, you get the 2.9% (but some orders will be as low as 1.9%) rate. If you do ask, you can opt for $0.30 + 0.10%.
I don't know what sort of behind-the-curtain negotiation it required to get the rates he got, but whether or not it saves you $ depends on your average transaction and expected sales volume.
Using my numbers, if your transactions are normally below $11, you'll probably benefit more from the standard three tier.
Most orders were in excess of $100.
$100 * 0.10% + $0.30 = $0.40
$100 * 2.90% = $2.90
The trick is, if you don't know to ask for IPP, you get the 2.9% (but some orders will be as low as 1.9%) rate. If you do ask, you can opt for $0.30 + 0.10%.
http://www.cardfellow.com/blog/interchange-plus-pricing/
http://www.interchangeplussolutions.com/interchange/intercha...
I don't know what sort of behind-the-curtain negotiation it required to get the rates he got, but whether or not it saves you $ depends on your average transaction and expected sales volume.
Using my numbers, if your transactions are normally below $11, you'll probably benefit more from the standard three tier.