What is Interchange Plus (IC++) pricing?
Interchange Plus pricing passes on the hard costs an acquirer must cover to acquire any transaction, so that you the merchant can see these transparently, and charges you a fixed fee for processing the transaction on top of these hard costs. This allows merchants to feel confident in the fees that they are paying, the margin the acquirer is charging and to price merchants as a reflection of their requirements. There are hard costs involved when processing a card payment and settling it into a merchant’s bank account. The real cost is determined by all the different parties involved who handle the transaction. Interchange Plus pricing is a pricing model that transparently breaks down the costs of card processing into three parts: interchange fee, a card scheme fee, and processing fee. The interchange fee and card scheme fee are hard costs every transaction incurs regardless of the processor, and the processing fee is the fee the acquirer charges you to process the transaction.
What is Trust My Travel’s IC++(P) pricing?
Whilst we realise our solution is slightly different to a traditional processor, we also see the benefit in also using this pricing structure to align with the expectations of our providers. We know that our providers indirectly receive the benefits of our ability to process payments from customers through our financial protection offering, so we think it makes sense to align our pricing with IC++. That is why we introduced IC++(P) Pricing to our providers who process over GBP 3 Million a year in sales through us. We will transparently display the three original components of IC++ and additionally add a Protection fee on top.
Is payment deducted or invoiced for IC++P?
You will be invoiced on a monthly basis.