Understanding Emerging Markets and Special Interchange Rates
Insurance, Fuel Dealers, Child Services, Subscriptions, SaaS, Direct Marketing, Telecommunications, Education, Schools, Utilities, Government Entities, Non-Profits, and charities.
These are some of the business types that get special rates from Visa, MasterCard, Discover, and American Express
What Are Emerging Markets?
Emerging markets are specific types of businesses identified by card brands as eligible for special interchange rates. These businesses can benefit significantly from reduced processing/interchange fees if set up correctly. Our expertise is helping these businesses get correctly classified to maximize their savings.
How Do We Help You Save?
Our consulting team specializes in “Interchange Busting,” a strategy that leverages card brand rules and our proprietary software to save you hundreds or even thousands of dollars. Similar to how a CPA can save you money on taxes, we ensure you save on your credit card processing fees by:
- Proper Classification: Ensuring your business is correctly classified to qualify for special rates.
- Accurate Data Transmission: Transmitting the correct data to the processor to secure the best rates.
We work closely with your organization to set up your website, software, point-of-sale systems, or machines. Additionally, we can enable the Dual Pricing Program if needed, allowing you to process transactions at 0%. You can also add a small fee to help reduce your fees. It is up to you and, in some cases, along with offering ACH as a payment option.
Choosing the Right Technology
We offer a variety of technology solutions to meet your needs:
- Payment Portal
- Invoicing
- Terminals
- Mobile Solutions
- Gateway
- API
- Virtual Terminal
- E-Commerce
- Merchant Types Eligible for Special Rates
Certain merchant types can qualify for special interchange rates, including:
- Insurance (6300, 5960)
- Fuel Dealers (5983)
- Child Care Services (8351)
- Subscription Services/Direct Marketing (5968)
- Telecommunications (4814)
- Education – Schools (8220, 8211, 8299)
- Utilities (4939)
- Government Entities (MCC 9399, 9211, 9222)
- Charities/Non-Profits (8641)
Importance of SIC and NAICS Codes
The Standard Industrial Classification (SIC) is a four-digit code that categorizes industries based on business activities. Although mostly replaced by the six-digit North American Industry Classification System (NAICS), SIC codes remain crucial for credit card processing. Proper classification can lead to significant savings, especially for emerging-market businesses.
How Do We Guide You?
We specialize in helping emerging markets navigate the complexities of credit card processing. Our team ensures your business is registered correctly to obtain the best rates, guiding you every step of the way.
Get Started Today
Our consulting team is ready to assist you in putting together a program tailored to your needs. With our expert guidance and innovative solutions, you can save time and money. Contact us today to benefit from special interchange rates and efficient processing solutions.
NPS Consulting specializes in helping businesses optimize their credit card processing fees. Focusing on emerging markets, we provide tailored solutions to ensure you get the best rates. Let us help you save money and streamline your payment processes.
