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What is a discount rate?

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What is a discount rate?

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A discount rate is a fixed percentage rate that is deducted from the purchase cost by your bank when a credit card order is made. A small transaction fee is also deducted in addition to the discount rate. With an Internet merchant account from QuickBooks Merchant Services, the discount rate is between 1.76% and 3.14% plus a $0.23 transaction fee.

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The Discount Rate is a fee associated with collecting, assessing, approving, processing and settling credit card transactions.

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A fee the merchant is charged for processing a transaction. This discount rate is a percentage multiplied by the gross dollar amount of the transactions for a billing period (month). The merchant account is debited once per month for both the discount rate fee and the transaction fee.

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Every bank charges a discount rate. The discount rate is the percentage of each transaction that the processing company charges to handle the transaction for you, Our discount rates are the lowest for both retail (swiped) merchants and for mail order/telephone order and Internet merchants, gift cards, and wireless merchants in the industry.

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Every bank charges a discount rate. The discount rate is the percentage of each transaction that the processing company charges to handle the transaction for you. Our discount rates are exceptionally low for retail (swiped on the terminal) merchants as well as for mail order/telephone order and Internet merchants.

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