Assessments

The merchant account statement might include something labeled as “Assessments” or “Assessment Fees.” These are industry-wide fees that are determined by each specific credit card brand. Here is a complete definition of credit card processing assessments.

Evaluation of Credit Card Brand Value

In school, an assessment is an evaluation, test or measurement of your capabilities in some intellectual endeavor. There are also assessments of other talents, such as musical or athletic. Basically, an authority figure is looking at an individual, group or business to determine its value during an assessment.

Local communities will make an assessment (additional tax) to raise money for special projects. It might be used to build a new school or fix some roads. The assessment attempts to spread out the costs of funding something over the entire community. Credit card assessments use the very same concepts of shared burdens.

Credit Card Membership

The credit card processing assessment fee is basically a comprehensive charge covering branding, marketing and operating expenses. Each of the top credit card issuing banks has its own network with its own valuation.

Some financial experts have noted that credit card banks are updating their fees every three years or so. As technology changes, such as near field protocols, the credit card industry can use assessments to pay for its educational campaigns to encourage customers, businesses and banks to make the necessary upgrades. Financial marketing efforts can be expensive. The top credit card banks make an “assessment” to collect from all of their network members.

Quarterly Dues

The merchant account is usually set up by an acquiring bank who provides a line of credit. The acquiring processing bank will also handle all debits and credits for the business. Some acquirer banks have the authority to issue their own cards or electronic credit card processing machines.

When a company sets up its merchant account, it is actually becoming a member of the credit card associations. All entities benefit from a robust, healthy financial payment system. Generally, the “Assessment Fee” or “Membership Due” will be charged on a quarterly basis.

GET FREE QUOTE TODAY AND START SAVING


Testimonials

It took me a while to decide who I wanted to settle with to handle all of my credit card transactions because every company wants to make it sound like they're offering you the best rates. CreditCardProcessing.com was able compare and beat all of the other offers I received. They were also able to provide me the fairest price on my EMV-compliant terminal. My sales representative and the support team were there to assist every step of the way. Ultimately, I'm looking forward to a long term relationship with this company.

Roland Tran from the Hong Kong Kitchen

It is a pleasure dealing with these folks. Their pricing is fair, their statements are understandable and their employees are knowledgeable and friendly.

John MacMillian from the Great Lakes Baking Company

The service was very professional, my sales person (Steven B.) was very well versed in the product and most helpful in getting our company set up to accept credit cards via my cell phone. Their rates are some of the lowest on the market and their service is unparalleled. I will recommend them to anyone requiring a credit card processing service.

Michael Harper from Deluxe Auto Body

Jonathan C. is wonderful to work with. He is very helpful, accommodating and resolves any issue quickly. It is hard these days to find someone who gives great customer service, but I can say, Jonathan is the best! I would not hesitate to recommend him to any business owner and to assist you in helping to grow your business.

Linda Garner from Regali Da Forno

I called indecisive about getting a device, but speaking to your Sales Consultant completely settled me. He was very professional, knowledgeable and patiently walked me through the process. He always responded to my voicemails and answered all my questions. After I received my merchandise, he called following up to ensure that I had received it. Customer service I would say is 5 stars. Stellar! Thanks Credit Card Processing, I will definitely recommend you.

Sarah Morgan from Vision International Ministries
Call Us Today! (866) 837-0751

© 2016 CreditCardProcessing.com. All rights reserved. Privacy Policy
CREDITCARDPROCESSING.COM, LLC is a registered ISO of Wells Fargo Bank, N.A. Walnut Creek, CA

*Further terms and conditions may apply. Promotion contingent upon CreditCardProcessing.com's receipt of written competing offer(s).

**Certain restrictions may apply.

Promotional offers brought to you by CreditCardProcessing.com.

Call (866) 837-0751 for details.