Do you know which types of cards you are taking and how much Visa and Mastercard charge for those types of card transactions? If your statement doesn’t show the breakdown of the card type WITH the actual cost for those cards, then your processor is probably overcharging you.
Many processors have begun the unethical practice of padding the fees from Visa and Mastercard without really disclosing it. You will see charges that say “Interchange” which SHOULD be true direct costs passed through to you, yet the fees don’t add up to what Mastercard and Visa actual charge.
We know the true costs to process the cards and can review your statement to see if you are paying more than what you should be. Visit us at merchantadvocate.com or call 888.890.8822.