Payco Card wants our merchants to understand the difference between a Swiped Transaction and a manually entered or keyed in transaction when it pertains to the rate allocated:
Swiped Transaction –
Is performed in front of the card holder and is labeled a Card-Present transaction. This type of transaction presents the least amount of risk for all the credit card associations and has a very low rate. Retail brick-and-mortar storefronts or mobile swipe businesses can all enjoy our low rates and process with maximal protection from fraud.
Keyed-In / Manually Entered Transaction-
Transaction which is processed without seeing the physical card or the cardholder is labeled a Card-not-Present transaction. This type of transaction can be performed over the phone, on the internet or even via invoices or emailed payments. A Card-not-Present transaction is of higher risk to the credit card associations hence a slightly higher rate is attributed.
Rates on any given transaction are determined by the type of card that was used at time of transaction. Remember to discuss this with any merchant accounts advisor before setting up your account.
Payco Card will ensure all our merchants gets a low rate with the highest measures of PCI compliance and protection from fraud. Allow us to take on all the behind the curtain work while you enjoy our low rates. Get the peace of mind to move forward and build your business!!!