> This is not what I've heard from the handful of store owners I've spoken with.
Are you well versed in interchange? Have you seen there merchant processing statement? What was their average ticket, Visa/MC/Amex/DC breakdown, total volume, and pricing (basis points, trans fee, plus hidden fees)?
If your a restaurant, you are going to take many more premium cards. My example is from grocery, where debit cards are common, and the retailers are extremely aggressive and sue companies like Visa on a quarterly basis.
>Do you know if data about industry-wide averages rather than the folks you work with?
Lololololol, that is a good one! No, this is an extremely fractured industry with literally hundreds of players, operating using pyramid scheme brainwashing tactics, and in ACN's and CDS's cases, as actual pyramid schemes (the latter pushed via a church).
Industry players don't share, and there are contracts & regulations preventing First Data, Tsys & Elavon from aggregating and distributing that type of info about their ISOs portfolios. Akin to the firewall in Investment Banking between analysts and bankers, it isn't about to come tumbling down.
What I can tell you is running a bit below 1% cost is fairly common in the supermarket vertical. Restaurants and other retail trend higher, due to their poor lobbying power, but still you should be well within 2.5% if not 2% if your clientèle aren't all exclusively using top tier cards and you aren't processing through some racket like Card Data Services where your fellow parishioner sold you payment processing that is 150 basis points over interchange.
Right, so "Most of the stores I work with average around 0.83% to 0.85%" is not very representative. I'm pretty happy with my initial characterization, whose roughness I emphasized with a tilde. Thank you for the interesting comments about the industry.
Are you well versed in interchange? Have you seen there merchant processing statement? What was their average ticket, Visa/MC/Amex/DC breakdown, total volume, and pricing (basis points, trans fee, plus hidden fees)?
If your a restaurant, you are going to take many more premium cards. My example is from grocery, where debit cards are common, and the retailers are extremely aggressive and sue companies like Visa on a quarterly basis.
>Do you know if data about industry-wide averages rather than the folks you work with?
Lololololol, that is a good one! No, this is an extremely fractured industry with literally hundreds of players, operating using pyramid scheme brainwashing tactics, and in ACN's and CDS's cases, as actual pyramid schemes (the latter pushed via a church).
Industry players don't share, and there are contracts & regulations preventing First Data, Tsys & Elavon from aggregating and distributing that type of info about their ISOs portfolios. Akin to the firewall in Investment Banking between analysts and bankers, it isn't about to come tumbling down.
What I can tell you is running a bit below 1% cost is fairly common in the supermarket vertical. Restaurants and other retail trend higher, due to their poor lobbying power, but still you should be well within 2.5% if not 2% if your clientèle aren't all exclusively using top tier cards and you aren't processing through some racket like Card Data Services where your fellow parishioner sold you payment processing that is 150 basis points over interchange.