Instore

Instore + CardConnect

Flat rate pricing is simple. Credit card processing is not. In fact, flat rate pricing isn’t designed to be competitive at all–the attraction comes from the ease in which merchants can understand the structure.

Every transaction a merchant processes incurs three fees:

1. A fee to the issuing bank, e.g., Chase (interchange)
2. A fee to the card brand, e.g., Mastercard or Visa (assessment)
3. A fee to the credit card processor

While assessments are fixed costs, the interchange rate is not. This rate can vary from as low as 0.05% to over 3%. Processors that charge a flat rate need to account for every possible interchange rate. The good thing about flat rate pricing is that there’s no guesswork and it’s easy for a merchant to figure out how much it’s going to cost them to process their payments. Unfortunately this convenience comes at a cost of spending about 20% more than they have to on processing costs.

CardConnect’s partnership with Instore has allowed them to offer “interchange plus” pricing, optimizing costs for merchants while providing Instore’s best-in-class platform.

About Instore

Simple platforms for accepting credit cards are now commonplace, designed to service a wide variety of businesses and micro-merchants. But a cafe owner and a handyman don’t have the same needs, and payment processing is just one piece of a point of sale. That’s where Instore comes in.

Instore runs entirely off of your tablet, allowing you to accept payments from the same place or manage your employees and track inventory. Instore even provides a card swiper for free—all your need is an iPad.