FAQs Archive - El Punto Agency

Q: Why are Rewards Cards making my processing fees increase?

As big brand stores partner with banks to issue Rewards Cards we continue to see an increase in competition to provide better Reward options. The bottom line is merchants pay for these programs through processing fees. The people use these types of card the more rates will rise. We are in no way trying to discourage any consumer from using such a card but merchants must at least understand that the more often these are used, the more processing fees they will pay. The basis of our program strives to create balance and no penalized card paying customers but only make them responsible to share in the increase of cost as they use more of these types of cards.

Q: What if I sign up and I really don't like the program?

No problem whatsoever! If at any time you wish to go back to paying all of the fees yourself we will be happy to put you on our standard processing platform. We can’t guarantee what the rate will be at that time as there will be another Visa/Mastercard increase taking place in April of 2018.

Q: What makes the Take Charge Program possible?

The flat rate Take Charge program has evolved from The Durbin Amendment. The Durbin Amendment is Section 920 in the Dodd-Frank Wall Street Reform and Consumer Act, which is part of the broader Financial Regulation Reform and Consumer Act passed by the Senate in May 2010. July 21, 2011, merchants can impose a $10 minimum on credit card transactions . This was previously banned in VISA® and Mastercard® merchant agreements.