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What Other Processors Hope You Don’t Know

Using The Right MCC

Using the Merchant Category Code (MCC) code 4900 for specialty cleaning and sanitation services, your company qualifies for lower interchange rates when processing credit cards. Most payment processors are not familiar with all the specific category codes for the various industries in our world, which could cause your business to pay more than it should for accepting credit cards. Some processors are familiar and use this MCC code to generate more profit off of your account and that just doesn’t sit right with us. We are here to help grow your business, not cost you more in operations.

Why The MCC Matters

Did you know that specific MCC Codes can qualify your business for lower interchange rates, potentially reducing your operating costs? While other processors may charge you a flat rate, sometimes 2.5% making you feel like it’s competitive, they often exploit this knowledge to pad their markup and pocket the difference. By understanding and leveraging these interchange rates, businesses can save significantly on transaction fees, making it crucial to choose a processor that offers transparent pricing models like Interchange Plus. It’s like playing chess while your competitors play checkers.

MCC + Magothy = Massive Savings

With our interchange plus pricing, the true cost of interchange set by card networks is passed directly along to you, with our standard 0.50% markup added on top, resulting in potentially substantial savings. In contrast, other processors often employ flat rate pricing, which doesn’t consider MCC codes and instead charges a fixed percentage per transaction. This means that even if your company qualifies for lower interchange rates, you could still be overpaying with flat rate pricing, making the interchange plus model a more cost-effective option for any businesses seeking to maximize their savings.