Merchants Can Now Get a Merchant Account with 0.49% Processing Rate
New Durbin Amendment allows merchant account provider to deliver incredibly low 0.49% debit & check card processing rate!
Leaders Merchant Services has announced that merchants can now open a merchant account with an incredibly low 0.49% debit & check card processing rate! At less than one half of a percent, this rate is unbelievable!
Thanks to the recently enacted Durbin Amendment, Leaders Merchant Services is able to provide merchants with this industry leading new low rate. The Durbin Amendment, which caps Interchange fees – the fees that card issuing banks charge for accepting debit and check card payments, also called “swipe” fees – at less than half the average fee previously charged, was instituted to keep the credit card companies and issuing banks from overcharging and constantly raising fees. Leaders Merchant Services is giving businesses of all sizes a chance to really compete in the market by allowing everyone to take advantage of rates that, until now, only big retailers were privy to.
According to a 2010 study conducted by the Federal Reserve System on the payments industry, debit cards are the leading noncash payment choice of consumers. In 2009 alone, debit cards accounted for 35% of all noncash payments, whereas credit cards accounted for only 20%. And research indicates that debit card usage is still on the rise. That means merchants stand to save significantly with Leaders Merchant Services’ new 0.49% debit and check card rate.
Leaders Merchant Services is a nationwide credit card processing company based in California and maintains an A+ rating with the Better Business Bureau (BBB). Leaders Merchant Services offers retail merchant accounts, MOTO merchant accounts, and Internet merchant accounts, as well as mobile credit card processing accounts (this includes mobile credit card terminals and smartphone credit card processing). Leaders Merchant Services also offers check guarantee services, business cash advances, and gift card programs. A representative at Leaders said, “We can approve most merchant account applications in less than 24 hrs.”
- Contact Information
- Katlyn Rodriguez
- Press Manager
- Leaders Merchant Services
- (1) (877) 538-3377
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