Check out Wagner Machine
Are you looking for a trusted partner in custom machining and fabrication? Wagner Machine has been delivering reliable, high-quality solutions for more than 65 years, built on precision, expertise, and care. It is a name you can count on for exceptional results every time.
Interview with Emilee Tucker
In this episode, William and Emilee Tucker have a conversation about her company, Authentic Leadership Consulting. They help clients get to the root of their communication and their values through growth and awareness in leadship development .They focus on empowering leaders to cultivate and embrace their own authentic leadership style.
Check out Los Angeles Mission
Are you looking to support a cause that truly changes lives? Los Angeles Mission is dedicated to restoring hope and opportunity to individuals experiencing homelessness. It continues to make a meaningful impact through compassion, care, and community service.
Klipsys Technologies Prepares You for the Unexpected
The world we live in presents new cybersecurity risks every day. With the advent of AI and all its capabilities (for good and evil), figuring out how to constantly navigate around threats is a daunting task. When you work with Klipsys Technologies, your company is put in a position of safety in the present but is also prepared to react immediately as the threats evolve.
How do interchange fees impact your credit card processing bill?
For every payment your business processes by card, your business pays a series of fees. One of these is an interchange fee, which is collected by the paymentâs issuing bank. While interchange fees arenât necessarily flexible on your providerâs side, they are something you can take steps to reduce. In this article, we take a look at interchange fees and how you can optimize your payments to lower the cost of this component.
What fees do you incur on every payment you make?
On each payment you accept, whether itâs in person, over the phone, or online, you pay the following fees:
- Authorization fee, which is collected by the gateway â an encrypted platform that acts as an intermediary during your transaction
- Transaction fee, which is collected by the processor â your merchant services provider
- Assessment fee, which is collected by the card network â such as Mastercard or Visa
- Interchange fees, which are collected by the issuing bank
Ultimately, these fees can amount around 2% of the total of every transaction.
What are interchange fees specifically?
Interchange fees are collected from you â the merchant â by the cardholderâs bank and cover the cost of the risk associated with approving a payment. While these fees are determined by the card brands and are non-negotiable, there are different levels of interchange fees based on key factors, including the information that you submit every time a payment is made. In fact, there are over 300 different interchange rate levels that could be applied to your payment processing.
What impacts your interchange fees?
Your interchange fees are going to be impacted by a variety of factors, not all of which are in your control. However, some decisions that you make, as a merchant, will determine what youâre charged.
Interchange fees can be determined by card type, and which types of cards carry more risk for the bank:
- Debit versus credit
- Corporate versus personal
- Rewards and travel cards
- Card brand
The fees are also determined by the way the card was used during the transaction:
- In person, online, or over the phone
- Inserted with a chip, tapped, or signed for with a cardholder signature
In this example, a cardholder signature would be seen as the least risky transaction, whereas a purchase made with card-not-present (CNP) carries the most risk.
Finally, the fees are also determined by the data sent along with the transaction. The fewer details sent, the higher the fees typically are. This is where your business has room to make decisions that can lower your fees without taking measures to limit your customers, such as reducing the card types you accept.
How do you optimize your interchange fees?
Depending on the nature of your operations, your business can qualify for a lower interchange rate by working with your payment processor to optimize the data you send every time a transaction is made.
Many businesses that accept basic retail transactions, as well as other CNP transactions, will only be able to send what is known as Level 1 (L1) data. However, organizations with larger corporate or governmental clients can often optimize the information they send to secure the best rates.
Standard L1 transaction data includes very basic information, the amount paid, the card number, and the date. However, there are two additional levels; L2 and L3, that include more data and reduce fees. L2 adds data like customer codes and sales tax amounts for a discount around 0.50% lower. L3 data includes details such as product quantity and item descriptions for a discount of up to 1.0% lower. In order to optimize your interchange rates, you must be working under a payment processing structure that allows for the capture of this information.
If you can optimize, you should.
Not every organization is eligible for submitting L2 and L3 three data. Unfortunately, these businesses may face higher merchant services fees than others. Â However, if your business is in the position to optimize your interchange rates, you can expect to save significantly. With payment processing fees eating up a considerable amount of every transaction, you need every advantage that you can get.
Spotlight for Safe Harbor of Chester County
Safe Harbor of Chester County: Providing More Than Just a Place to Sleep
Safe Harbor of Chester County proudly is the largest homeless shelter in the community and the only one specifically serving single men and women. Each year, the organization supports around 150 individuals, offering not just a place to stay but a path toward stability and self-sufficiency.
Executive Director Jessica Chappell has been leading the organization since 2023. Under her guidance, Safe Harbor has remained true to the mission it was founded on 30 years ago while implementing new programs that expand and elevate its services.
âOur new model of service really focuses on treating the whole person,â said Chappell. âWe make sure we’re doing everything we can to support people from head to toe, treating each individual who walks through our doors as someone with full potential.â
Safe Harbor’s services extend well beyond providing shelter. Residents receive intensive case management and take part in therapeutic day programs focused on employment readiness, computer literacy, mental and physical wellness, creative expression, and recovery support. Additional offerings include family reunification services, and job placement assistance.
A key component of their approach is the wraparound program, which offers ongoing case management to individuals after they transition out of the shelter and into independent living. Volunteers and staff work closely with residents to build personalized plans with the goal of securing permanent housing and fostering long-term independence.
âHumanizing our residents and operating as a trauma-informed workforce is essential,â Chappell emphasized. âItâs incredibly important to how we do our work.â
Community support plays a crucial role in Safe Harborâs efforts. Donations, both monetary and in-kind, help sustain the wide range of services offered. These partnerships allow the shelter to maintain its holistic approach.
âWe want to expand not only our services but our footprint, so we are excited to be moving toward a capital campaign to build a new building next door. This will allow us to provide transitional housing for folks,â said Chappell.
Looking ahead, Chappell and her team are exploring ways to expand their impact. Plans include more education and training in trauma response, increased transitional housing opportunities, and enhanced workforce development initiatives.
In a world where housing insecurity continues to rise, Safe Harbor of Chester County stands as a beacon of compassion, innovation, and hope. Through personalized care, community involvement, and an unwavering belief in human potential, the shelter is helping to transform lives, one person at a time.
Visit their website to learn how you can support their work.
Download the PDF.
How do interchange fees impact your credit card processing bill?
For every payment your business processes by card, your business pays a series of fees. One of these is an interchange fee, which is collected by the paymentâs issuing bank. While interchange fees arenât necessarily flexible on your providerâs side, they are something you can take steps to reduce. In this article, we take a look at interchange fees and how you can optimize your payments to lower the cost of this component.
What fees do you incur on every payment you make?
On each payment you accept, whether itâs in person, over the phone, or online, you pay the following fees:
- Authorization fee, which is collected by the gateway â an encrypted platform that acts as an intermediary during your transaction
- Transaction fee, which is collected by the processor â your merchant services provider
- Assessment fee, which is collected by the card network â such as Mastercard or Visa
- Interchange fees, which are collected by the issuing bank
Ultimately, these fees can amount around 2% of the total of every transaction.
What are interchange fees specifically?
Interchange fees are collected from you â the merchant â by the cardholderâs bank and cover the cost of the risk associated with approving a payment. While these fees are determined by the card brands and are non-negotiable, there are different levels of interchange fees based on key factors, including the information that you submit every time a payment is made. In fact, there are over 300 different interchange rate levels that could be applied to your payment processing.
What impacts your interchange fees?
Your interchange fees are going to be impacted by a variety of factors, not all of which are in your control. However, some decisions that you make, as a merchant, will determine what youâre charged.
Interchange fees can be determined by card type, and which types of cards carry more risk for the bank:
- Debit versus credit
- Corporate versus personal
- Rewards and travel cards
- Card brand
The fees are also determined by the way the card was used during the transaction:
- In person, online, or over the phone
- Inserted with a chip, tapped, or signed for with a cardholder signature
In this example, a cardholder signature would be seen as the least risky transaction, whereas a purchase made with card-not-present (CNP) carries the most risk.
Finally, the fees are also determined by the data sent along with the transaction. The fewer details sent, the higher the fees typically are. This is where your business has room to make decisions that can lower your fees without taking measures to limit your customers, such as reducing the card types you accept.
How do you optimize your interchange fees?
Depending on the nature of your operations, your business can qualify for a lower interchange rate by working with your payment processor to optimize the data you send every time a transaction is made.
Many businesses that accept basic retail transactions, as well as other CNP transactions, will only be able to send what is known as Level 1 (L1) data. However, organizations with larger corporate or governmental clients can often optimize the information they send to secure the best rates.
Standard L1 transaction data includes very basic information, the amount paid, the card number, and the date. However, there are two additional levels; L2 and L3, that include more data and reduce fees. L2 adds data like customer codes and sales tax amounts for a discount around 0.50% lower. L3 data includes details such as product quantity and item descriptions for a discount of up to 1.0% lower. In order to optimize your interchange rates, you must be working under a payment processing structure that allows for the capture of this information.
If you can optimize, you should.
Not every organization is eligible for submitting L2 and L3 three data. Unfortunately, these businesses may face higher merchant services fees than others. Â However, if your business is in the position to optimize your interchange rates, you can expect to save significantly. With payment processing fees eating up a considerable amount of every transaction, you need every advantage that you can get.
Recommendation for Muslim Association of Hamilton
To whom it may concern,
I am pleased to offer this letter of recommendation for the Muslim Association of Hamilton, located in Hamilton, Ontario. Over the years, it has distinguished itself as a cornerstone institution serving a broad and diverse community with integrity and vision. Its longstanding presence and reputation testify to its commitment to community development, spiritual guidance, and social welfare.
It offers a range of vital services including marriage ceremonies, funeral planning, Islamic education, facility rentals, and social support through its âMishkaâ program. It also administers zakÄat distribution, helping connect community members with charitable resources. These services reflect a deep understanding of the spiritual, social, and practical needs of the community it serves.
The strength of it lies in the dedication and professionalism of its team. The staff and volunteers are consistently courteous, knowledgeable, and passionate about their mission. They work collaboratively and diligently, often behind the scenes, to ensure seamless coordination of events, programs, and essential services. Their responsiveness to community needs is commendable, and they maintain high ethical standards in every endeavor.
I wholeheartedly recommend the Muslim Association of Hamilton because it demonstrates sound leadership, compassionate outreach, and a capacity to deliver meaningful services to a multicultural population.
Sincerely,
Mutaz Dirar
Business Optimization Specialist
Schooley Mitchell
