How can I get the best possible rates while processing cards?
In short, reduce the risk of possible fraud to get the best rates! Risk, and each card-type's rates, are measured by the statistical probability of fraud or chargeoffs. For example, a Debit card that was swiped at the grocery store, and had the correct PIN number, will have an almost 0% chance of being a fraudulent charge. Therefore, the rate is low on that type of transaction. Inversely, a credit card that was taken over an internet page where it had the wrong billing address and no CVV code, would have a much higher probability of risk. If your terminal prompts you for zipcode, address, sales tax, or customer ID number, do NOT leave any of these blank or else the processor will throw that one item into the high-risk bucket that carries an inflated rate to compensate their chargeoff losses. Also, sales tax is only for corporate cards, and it must be between 0.01% and 20% of the total.
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