Lowest Visa Charity Non Profit Interchange Credit Card Processing Rates
Lowest Visa Charity Non Profit Rates
First off...
Quickbooks Advanced is only $170 per year for non profits at https://www.techsoup.org/intuit . That is 14.16 a month!
If you can all agree on Quickbooks...
Then you can likely all agree that online or cloud version is cheaper, better, faster, more secure than trying to get in to the IT business yourself and maintain a financial server! So again $170 a year and done! Everyone has access that needs it.
Phones, Internet Bills, Credit Card Processing, Events, Copier Rental, and Reservations? Send help@sbcashregister.com a phone bill, Cox/Frontier/Impulse bill, Credit Card Processing statements (we all know you have an average of 7 different credit card processing platforms that ding you every month even when not in use), and any other monthly subscription type service that comes out of your account every month or on a quarterly annual basis.
Clocking in? This can be handed by the point of sale so DO NOT buy time clocks.
I really think I can be a valuable resource...
Please get the above statements so I can do the math.
Visa grants super-low rates to nonprofits classified as “charitable or social service organizations”
Visa has a special rate category specifically designed for nonprofits. Not all nonprofits will qualify – but if you’re classified with the MCC of 8398, or as a “Charity or Social Service” organization, then you’ll qualify for far-reduced interchange rates
- Only Charitable and Social Service organizations are eligible (MCC 8398). Churches, schools, associations, and other nonprofits are not eligible for this rate category.
- CPS Qualified – Magnetic stripe, contactless, or chip data read, obtain customer’s signature, E-Commerce, or key-entered
- Authorize and settle within 1 day.
- Obtain and pass 1 valid electronic authorization.
- When processing a Non-PIN debit transaction the authorization and settlement amount must match.
CPS Charity – 1.35% + $0.05
Downgrade (any reason): EIRF, 2.30% + $0.10/txn
CPS Retail 2 CNP Debit – 0.65% + $0.15 (Capped at $2.00)
Downgrade (any reason): CPS Card-Not-Present Debit, 1.65% + $0.15/txn
Regulated Debit – 0.05% + $0.22
Downgrade: This card type does not downgrade.
Who’s eligible?
You’ll only receive these rates if you’re a registered nonprofit with the MCC of 8398.