FAQs
What are my options?
Understanding the pricing models
Unsure about the difference between merchant service pricing structures? We're here to help.
Surcharge Program
Eliminate all of your credit card processing fees.
- Only pay processing fees for debit card transactions
- Allow patients the option to pay with credit or debit cards to avoid fees
- Free terminal included when you sign up*
Interchange Plus
Transparent pricing that details the interchange rate plus the fee charged by the provider.
- Easily see interchange rates and processing fees separately listed out on statements
- Allows the practice to take advantage of lower cost cards and save money
Cash Discounting
Offer a discount to patients who choose to pay with cash. Patients who pay with credit or debit cards won't qualify for the discount and will instead see an adjustment.
- Eliminate all processing fees for credit and debit cards
- Give patients the option to avoid the fee by paying in cash
- Save money on processing fees to reinvest in your practice
Tiered Rate
A non-transparent pricing structure that has three separate tiers: qualified, mid-qualified and non-qualified.
- Unclear what the fee is for each transaction
- Processor's profit margin is grouped together with the interchange rate for similar card types
- Difficult to read statements and understand exact fees due to multiple line items
Apex glossary
Understanding the terms
There's a lot of jargon that gets tossed around in merchant services, and we're here to help you fully understand each aspect.
Interchange Fees
The majority of processing fees are made up of interchange fees, which are determined by the card networks and paid to the bank that issued the card used for each transaction. Interchange fees typically comprise a percentage of the transaction volume and a fixed per-transaction fee.
Network Fees
When it comes to card transactions, network fees are charged by the card networks and are paid directly to them. These fees can vary depending on several factors, much like interchange fees. You may also hear them referred to as “assessments” or “association fees.”
Issuing Bank
Issuing banks, also known as issuers, are financial institutions that provide payment cards and credit lines to practices, individuals and other businesses. These cards are affiliated with card networks and bear their branding. JPMorgan Chase and Bank of America are examples of issuing banks.
Card Network
Card networks provide the essential infrastructure that enables banks to process payments. You might hear card networks being called “card brands” or “card associations.” Visa and Mastercard are two examples. American Express and Discover are both card networks and card issuers, since they can issue cards independently.
PCI Compliance
For your practice to adhere to the Payment Card Industry (PCI) standards, it must comply with a set of regulations applicable to any business that accepts credit or debit cards. Apex is already a PCI-compliant Level 1 Service Provider, but your practice must take its own steps to ensure the operating environment is also PCI compliant.
Merchant Bank
Also known as acquiring banks, merchant banks are financial institutions that enable practices and other businesses to accept card payments and manage the flow of payment funds.
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