Brits Pay

There is a lot of merchant service provider in the market from Card scheme to down-the-line merchant. There are more than 150 card types does fall into various domestic & international charges. At the point of sale, a merchant does not know what kind of card is being used to buy their product, meaning their profit merchant can be less because the cardholder is using a card that might fall into international charges categories. The merchant only knows information about card type and brand and does not know various card categories and other information. Therefore, different types of cards do have various types of rates and charges. Therefore, it would be better to impose a capping mechanism on rates & charges after deducting IC++ (Including Acquirer’s Markup). Capping will be imposed for Payment facilitators, ISO, BDM, and so on.

We are providing training for SMEs to protect their business from unfair deductions for merchant services. Visa -Mastercard does not deduct huge transactional charges, even if not acquiring bank. In between, some other entities are deducting illegitimate transactional and non-transactional deductions for merchants by providing payment services. Our team is providing training for business owners or managers to calculate their settlement amount in terms of their transactions following the Interchange ++ model. 

We have conducted extensive research and found that most merchants or SMEs do not have dedicated staff to calculate every transactional deduction to verify whether your merchant service provider is deducting transaction and non-transactional fees legitimately. There are huge differences between deduction rates or fees and whatever is said in the contract. It is very important to justify your settlement amount as per your selling price after any deduction from merchant services according to a contract between merchants ( you ) and merchant service provider (e.g. global payments, WorldPay, etc).

You might have seen behind any lorry, saying ” If you can not see my mirror, I can not see you”. It does mean responsibility towards you, not technology providers (e.g. merchant services ). It is better to have somebody who can monitor your all transactional and non-transactional deductions as per the agreement from your merchant service provider.

We have also found that card Issuers are issuing normal Visa Mastercards with extended words which will have a negative impact on settlement rate and fees. Even a cardholder does not know what kind of card he or she is holding to understand whether his or her card will make the extra cost for merchants or not. Further research is required to be carried out to find out why it is happening and how it can be stopped to protect SMEs.Our team will monitor every deduction and will provide you with a report on where and how your business is affected by unfair deductions. Our team will collect transactional data and will analyse it to check whether a transactional deduction is being conducted legitimately according to the contract for all card type categories (e.g. Visa, Mastercard, Amex, etc). Your contract with a merchant service provider may be Interchange ++ or Blended model whatever, it does not matter if you know the deduction mechanism. But still, every business is suffering from extra deductions. We have found where, why, and how to get that money back from the merchant services providers by effectively communicating with FCA(Financial Conduct Authority). We do have third-party legal support who are equipped enough to claim the court including your legal expenses. It is so easy to find out where the excessive deduction is being carried out, therefore, it is also expected that you will win the claim. Claim is not an important element here but you must be vigilant enough to protect your business. Yes, we are so dependent on software or technologies and a highly reputed company but still, it is very easy to change any logic behind any technology which will have a negative impact on any deduction. If you can find it, you can then protect your business. But it is very difficult to find out because technologies are monsters or tigers. We are trying to be a monkey to raise the alarm before they are planning to harm you.