Credit Card Processing Fees


iClassPro offers two billing methods, Flat Rate and Interchange Plus Pricing. Below you will find a description and example of both. In some cases, other miscellaneous fees may apply and a description of those fees are listed below. 

Flat Rate Pricing

Flat rate pricing has a flat percentage and a per transaction fee, regardless of the credit cards used or how they are entered. No matter what the card company's interchange rate is, the flat rate will be equal to iClassPro's rate.  

The flat rate iClassPro charges is 2.9% and 20¢ per transaction for Visa, Mastercard and Discover transactions.  American Express transactions are 3.25% and 20¢ per transaction.

For example, if you process a $100 Visa transaction and the flat rate fee is 2.9% +.20¢, the total fees on that $100 transaction would be $3.10.

The benefits of flat rate pricing are that it's easy to understand and to estimate your credit card processing fees.  Flat rate pricing is good for new businesses that might not qualify for discounted rates.

What is Interchange

Interchange is the underlying fee that companies like Visa and MasterCard charge for moving money between card issuers and merchants. This rate is a base fee set by the card companies. These fees compensate the issuer for going through the trouble of qualifying consumers, issuing cards, handling transactions and taking on the risk involved in offering a line of credit. 

The interchange rate assigned to an individual credit card transaction varies from 0.05% to 3.17% depending on several variables such as card type, card brand, processing method, and more. This is the (BLUE) in the chart. (Note: These are not actual rates.  Actual rates can be found on the card brand websites.)

As you go through the two pricing methods offered by iClassPro, pay attention to the (GRAY) this is the processor’s fee for the transaction.

Interchange Plus Pricing

Interchange Plus Pricing is a billing method used to give you further transparency and savings.  iClassPro charges a single markup percentage and per transaction fee (this markup is dependent on your gross processing volume) on top of the card company’s interchange. For example, if a transaction had an interchange fee of 1.50% and iClassPro's fee is 0.70% and 20¢ per transaction, then the total cost for that transaction would equal 2.20% plus 20¢.  This type of rate plan is ideal for mature businesses with higher processing volumes. 


Other Fees

  • $10 USD Monthly Gateway Fee 
  • $25 USD Non-Refundable Chargeback Fee (per case)
  • 1% Foreign Handling Fee (to accept foreign credit cards)
  • $1 USD Voice Authorization Fee
  • $1.25 Mastercard Per Location Fee
  • Daily Settlement Assessments  (only billed to merchants on Interchange Plus pricing)
    • Visa Assessment - 0.13% of gross Visa processing volume
    • Discover Assessment- 0.13% of gross Discover processing volume
    • Mastercard Assessment- 0.13% of gross Mastercard processing volume
  • Visa Fixed Acquirer Network Fees (only billed  to merchants on Interchange Plus pricing)

Please feel free to contact our payments team at if you have additional questions about credit card pricing. 

Need More Assistance?

Call us at 877-554-6776. Our business hours are Mon-Thu 9am-9pm and Fri 9am-6pm Central Standard Time.