Visa program reduces rates for non-profit merchant accounts

2019-05-16 Business No comment

Due to Visa's consumer credit card charity exchange rate program, charitable or social service related non-profit organizations may be able to benefit from lower credit card processing fees and merchant services. To take advantage of Visa's plans, non-profit organizations should establish a non-profit merchant account with a commercial payment processing company that specifically addresses the unique needs and goals of non-profit organizations.

Non-profit merchant account equity
Since October 15, 2011, Visa has been providing a consumer credit card charity exchange rate program designed for non-profit charitable organizations with a commodity category code or MCC of 8398. Although the rates may vary, non-profit organizations will receive significant discounts. Their merchant account.

To qualify, non-profit organizations must:
• Use full magnetic stripe read or key input transactions
• Complete the transaction within one day of authorization
• Have a MCC 8938 qualified transaction

Advocate for non-profit merchant accounts
Non-profit organizations can benefit from having a non-profit merchant account with the help of a support processing provider, who is also their advocate. As an advocate, these services ensure that non-profit organizations meet the requirements of the Visa program and negotiate with the organization on behalf of Visa to reduce processing costs. Experienced non-profit business services companies offer many benefits to non-profit organizations because they can:
• Help organizations meet the requirements of MCC 8938
• Work with non-profit organizations to ensure they receive a lower Visa approval rate
• Keep abreast of any policy or request changes and help non-profit organizations make changes to meet these changes
• How educational organizations can take advantage of their credit card processing, including those that do not run directly through Visa

From autism charities to professional camp organizations to boys and girls clubs, all organizations with non-profit business accounts can reduce credit card processing costs, thereby saving money and increasing the amount of charitable donations. Leading commercial service providers have a deep understanding of the nuances of non-profit payment processing and the challenges faced by non-profit organizations. As a trusted partner and long-time advocate, non-profit business account experts help non-profit organizations maximize their funding so they can continue to do great work in the community.

Learn more about setting up a non-profit merchant account that allows your organization to participate in Visa's consumer credit card charity exchange rate program to get a discount on credit card processing fees. Learn why more non-profit organizations are turning to reputable payment processing providers because they need real payment processors that really understand their needs and act as advocates to help them achieve their goals.

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