Tangled in interchange terms

Where can I find the section on GS Online that gives the definitions of all the interchange program codes? For example, I want to know in plain language what "card present with swipe" means.

John Carro

John:

You will find our nine-part article series "Interchange untangled" at www.greensheet.com/interchangeuntangled.html . We provided the series in response to numerous reader requests for definitions of the various interchange levels. For example, Visa's CPS (Custom Payment Service) Retail is the most common rate qualification for merchants performing transactions in a face-to-face environment. To qualify for this rate:

• The cardholder, card, merchant and POS device all must be present at the time of the sale.
• The card must be swiped for authorization, and the full, unaltered contents of the magnetic stripe must be sent for authorization.
• Only one authorization is allowed per transaction.
• The transaction must be settled within 24 hours of the transaction date.
• The merchant must obtain an authorized signature on the receipt.

Editor

Please recommend cost-saving tools

I have been working with a local merchant service provider here in Chicago for two years. Is there any methodology, training or tools you can recommend for reading, analyzing, pricing and presenting cost savings to merchants?

I need to streamline the statement analysis process. I am working on bigger accounts with bundled rates and interchange charges; there has to be a method to the madness.

Bill Yergler
GS Cooper & Associates

Bill:

The Green Sheet does not make product or company recommendations; however, our readers may be able to help. If you are a member of GS Online's MLS Forum, please post your question at www.greensheet.com/forum/viewforum.php If you are not a member, you may register online for free.

Editor

I remember an ad ...

Within the last six months I've seen an ad concerning purchasing residual cash flow. I have looked through my copies of the publications, and I am unable to locate it. The ad had a large "66X" as its headline. If you could find the ad and send me another copy, I would be very grateful.

Thank you,
Jeffrey T. Condon
Wireless Web Inc.

Jeffrey:

The only ad in The Green Sheet that has come close to what you described is for Equity Commerce LP. The ad's headline is "36x Multiple." The ad is on page 67 of the Jan. 9, 2006 issue (06:01:01). You may access this issue on GS Online in the GS Archive at www.greensheet.com/pdf/060101.pdf I hope this is what you are looking for.

Editor