Show HN: Pass in data to Visa and cut your credit card fee by 50%
3 by jackylin | 1 comments on Hacker News.
Here's how your business can save up to 50% on credit card fees. Credit card interchange fees are expensive. These fees are what the credit card networks like Visa and Mastercard charge the merchant (you) whenever your customer swipes their card. Stripe or your payment processor passes these fees onto you. To incentivize data collection, Visa and Mastercard lower your fees whenever you pass in transaction data like zipcode, sales tax amount, invoice amount, customer address, itemized purchased services or goods, and the list goes on. This is called L2 and L3 data, and you can pass this into Stripe (or your payment processor) to lower your credit card fees. Parsing invoices manually to provide L2/L3 data to Visa is a pain. But with Trellis, you can do this automatically within seconds for any invoice. Watch how we do it here: https://ift.tt/BYjuRJs... If you’re a business and you accept credit cards, you can cut your credit card processing fee in half.
3 by jackylin | 1 comments on Hacker News.
Here's how your business can save up to 50% on credit card fees. Credit card interchange fees are expensive. These fees are what the credit card networks like Visa and Mastercard charge the merchant (you) whenever your customer swipes their card. Stripe or your payment processor passes these fees onto you. To incentivize data collection, Visa and Mastercard lower your fees whenever you pass in transaction data like zipcode, sales tax amount, invoice amount, customer address, itemized purchased services or goods, and the list goes on. This is called L2 and L3 data, and you can pass this into Stripe (or your payment processor) to lower your credit card fees. Parsing invoices manually to provide L2/L3 data to Visa is a pain. But with Trellis, you can do this automatically within seconds for any invoice. Watch how we do it here: https://ift.tt/BYjuRJs... If you’re a business and you accept credit cards, you can cut your credit card processing fee in half.
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