There are two ways we can come up with a rate. The first is to use your most recent 3 credit card statements to audit both your per transaction rate, as well as all the individual and monthly fees that you currently pay. We then cut our margin to at least meet or beat all your rates to give you the most competitive rates we can, hopefully saving your company a lot of money.

The second is to have you answer three questions about your transactions, volume, per transaction size, etc. and we come up with a flat, sometimes called wholesale rate. Obviously, without any statements to compare to, we wouldn't be sure how much money we'll be saving you, but we'd give you a good flat wholesale rate.

Well, that depends. For Step 1, where we are just getting you a competitive quote, all we need are your 3 most recent statements or answer the base questions, and we can have a quote to you within 1-2 business days.

If we are just getting you a competitive quote, all we need are your 3 most recent statements, and we can have a quote to you within 1-2 business days.

If you don't have your monthly statements, then we can quote you based on answering the base questions.

In Step 2, there is a form, with all the information we need to fill out the application. The form can be filled out in 30-60 minutes.

There are also quite a few documents that underwriting requires and it can take you a few hours to days or weeks to run them down (eg. bank statements, tax returns, photo IDs, etc.).

All in all, it's not difficult, but a little time consuming.

Once Clarity has submitted the application with the associated documents, underwriting will have our answer back within 48 hours or 2 business days.

Occasionally, they will come back and ask for additional documentation, which happens fairly quickly.

That depends on where we are embedding and accepting the payments. For many of our clients, we are building them a new web store, portal, etc. and could be a month or more out from going into production.  For other clients, you may already have a form or storefront where you want us to embed our payment processing. Depending on whether we have an off-the-shelf plugin for that platform or not dictates how long before you'll be accepting payments. Your project manager will give you an idea upfront as to your expected timeline.

Possibly. Level 2 and 3 interchange rates are discounted rates offered by the card issuers when you send up more qualifying data about the businesses and items processed for a B2B transaction, for qualified cards only (Corporate, Government, Purchasing,  and some Business cards).

How do they know if it's B2B? Well, the card itself is issued as an eligle card first. If it isn't a qualifying card, then even if you send data, the issuer considers it a B2C transaction and you pay the normal transaction fee. IF the card qualifies as eligible, then the card issuer will provide a discounted transaction rate if you pass all the information they require with the transaction. One note, the connected gateway must also be configured to pass the data through to the processor.

Talk to your Sales Rep about Level 2 and 3 pre-qualifications.

Some clients have a collection of transaction types (both B2C and B2B) and are looking for a flat rate. Merchant Account companies may decide, based on volume, to extend a flat rate, which can potentially save you quite a bit of money on your processing fees.

Talk to your Sales Rep to see if you qualify for a Wholesale rate.