Because of the complexities of credit card processing, monthly transaction statements are typically difficult to understand. This is an important area of customer service that is often overlooked. That's why we make it a point to meet with you to thoroughly review your first statement. This gives you the confidence of knowing you are getting the low rates you contracted for, and gives us a chance to catch any opportunities for you to further lower your charges.
To give you an example of an easy-to-understand, straightforward statement, here is a statement from Worldpay.
Like all processor statements, your Worldpay Monthly Statement can be viewed online, free, using WorldPay's web-based reporting tool created exclusively for our merchants.
Your monthly statement will reflect either a Tiered account or a Cost Plus account depending on your account type. These statements look similar; however, the Card Fee Summary, is slightly different on each.
The Cost Plus Interchange Level displays specific Visa®, MasterCard® and Discover® interchange rates by category per card and transaction type, while the Tiered Interchange Level shows qualified, mid-qualified and non-qualified interchange rates.
The Transaction Summary is the core of the statement and consolidates your deposited batches, deductions and checking account deposits into one report.
The Card Fee Summary breaks down the interchange and discount fees for each card type and qualification level.
The Summary of All Fees provides the fees and adjustments to your account due to chargebacks, chargeback reversals, Interchange and assessment fees, discounts and financial adjustments.
The Daily Deposit Detail columns provide summary information on your deposit activity by day.