Switching to Cayan under AMBC's plan will give you $100 credit on your AMBC Dues!
AMBC and Cayan have teamed up to offer you a unique program to process credit cards. Processor rate structures are often made complicated, confusing, and misleading on purpose. A teaser rate is presented as the processing rate, although only a small portion of the cards that qualify for that rate will ever be used at your store.
The processors increase rates for non-qualified cards like rewards or corporate cards to make up for the teaser rate. They have to make money somewhere, so they increase non-qualified rates, and add a list of addition fees to make money.
As business people we understand that they need to make a profit to survive, but all we ask is that they be up front, honest and understandable about how we are being charged.
Here is the bouquet of rates that are charged to the merchant under the AMBC Cayan program:
These are the constants that are marked up by processors. For the most part they consist of a percentage and a swipe fee. As of publication, they are as follows for Visa and MasterCard:
Debit- 1.03%+ .15
Credit- 1.54%+ .10
Corporate- 2.20% +.10
Key entered- 1.85% +.10
In addition to interchange fees, there are other fees that Visa and MasterCard charge acquirers and issuers as a condition of membership. The most critical of these fees is an “assessment” fee which is assessed to both acquirers and issuers based on processed volume. Assessment fee levels for Visa and MasterCard are 0.0925% and 0.0950% respectively.
These are the markups that Cayan will apply to the Interchange Fees. It is a tier structure based upon how much you process a month.
+0.35% + .15 >$5,000/month processed
+0.30% + .12 >$10,000/month processed
+0.25% + .10 >$15,000/month processed
+0.20% + .10 >$20,000/month processed
AMBC Cayan Additional Fees
No cancellation fee
No application fee
No setup fee
No download fee
No annual fee
No customer service fee
No hidden fees
No application fee
No AVU fee
No programming free
No monthly minimum for swipe accounts
No complicated qual or non-qual tiers
No gateway fee
Free cost comparison with your current processor
Statement fee $4.95
Batch fee $0.10
Electronic AVS $0.05
Minimum Monthly $15.00
Chargeback fee $25.00
Manual Voice Auth fee $0.95
Return trans fee $0.15