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What is Zero Interchange Program?

The world of credit card processing can be very daunting. Everywhere and anywhere there are small fees to be concerned about. However, this is not the case with the Zero Interchange Program. Let’s take a closer look at this savvy new technique being used by credit card companies.

Merchant accounts are riddled by consistent credit card fees. But with the Zero Interchange Program, this is all about to change. The idea behind this program was to allow merchants to accept credit cards at their businesses and pay no processing fee for that transaction. Before, merchants would have to pay about 2% for each transaction.

However, there is this movement for the Zero Interchange Program that is becoming close to a reality. The economy is pushing the credit card companies more and more to this way of thinking; that they are only hurting small businesses and the end consumer with all these fees. One of the key drivers to this revolution is the advances of technology. Technology has allowed information to flow much more freely than in the past that it is essentially driving the costs down. More efficient and less costly machines and methods allow credit card companies not to have to charge as much and thus forcing the banks to hopefully follow in suit.

The second piece to this push for no fees for the merchant is due to the fact that the information available to the merchants and public is driving up the revenues. As people are allowing access to their likes and shopping habits, businesses are taking advantage and looking to see how they can get more with less. By being able to focus in a customers’ wants and desires, merchants could get more repeat customers, thus increasing the use of their credit card purchases and adding more revenues for everyone involved.

The Zero Interchange Program is aimed at reducing the costs for merchants when they accept credit card transactions in their business. It has the most effect on small business owners but does benefit everyone in the chain. Credit card processing centers have always been notorious for charging merchant accounts with fees when using their machines for credit card transactions. These fees have continuously gone up over the decades however, technology is changing the way we look at money transactions. It is hoped that this program will start taking more effect with more credit card processing centers.


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