Costa Mesa, CA, January 26, 2013 --(PR.com
)-- CardFlex (www.cardflexnow.com), a leading payment processing provider, notes that charitable or social-service-related nonprofit organizations may be able to benefit from lower credit card processing fees and merchant services due to Visa’s Consumer Credit Card Charity Interchange Rate Program. To take full advantage of Visa’s program, nonprofit organizations should setup a nonprofit merchant account with a merchant payment processing company that specializes in working with the unique needs and goals of nonprofits.
Nonprofit Merchant Account Benefits
Since October 15, 2011, Visa has been offering its Consumer Credit Card Charity Interchange Rate Program that is specifically designed for nonprofit, charitable organizations that have the Merchant Category Code or MCC of 8398. Although the rates may vary, nonprofits will see substantial discounts with their nonprofit merchant accounts.
To qualify, nonprofit organizations must:
· Use full-magnetic stripe read or key-entered transactions
· Have transactions settled within one day from authorization
· Have transactions that qualify for the MCC 8938
Advocates for Nonprofit Merchant Accounts
Nonprofit organizations can reap the benefits of having a nonprofit merchant account with the assistance of a payment processing provider that is also their advocate. As an advocate, these services ensure nonprofits meet the requirements for the Visa program and negotiate with Visa on the organization’s behalf to lower processing fees. Experienced nonprofit merchant service companies offer many benefits to nonprofits because they can:
· Help the organization qualify under MCC 8938
· Partner with nonprofit organizations to ensure they receive the lower, Visa-approved rate
· Keep up-to-date on any policy or requirement changes and help the nonprofit organization change to meet them
· Educate the organization on how to make the most of its credit card processing, including those not run directly through Visa
From autism charities to professional camp organizations to boys and girls clubs, virtually all organizations with a nonprofit merchant account can lower their credit card processing fees and thereby save money while increasing the amount of charitable donations. Merchant services providers like CardFlex have a deep understanding of the nuances of nonprofit payment processing and the challenges nonprofits face. As a trusted partner and long-time advocate, CardFlex helps nonprofits maximize their funds so they can continue to do great work in their communities.
Learn more about partnering with CardFlex to setup a nonprofit merchant account that can enable your organization to participate in Visa’s Consumer Credit Card Charity Interchange Rate Program to receive discounts on credit card processing fees. Visit www.CardFlexNow.com or call 866.634.3044 to see why more nonprofits turn to CardFlex when they want a hands-on payment processor that truly understands their needs and acts as an advocate to help them achieve their goals.