Statement Analysis
After collecting the processing data from a Merchant’s statement, Cashwaive’s advanced system diligently identifies any potential Interchange inefficiencies, often referred to as Interchange Downgrades. These inefficiencies occur due to missing or inaccurate enriched data at the point of sale or during settlement. Common issues include the absence or mismatching of the cardholder’s billing address, commercial cards not configured in Level II/III format, improper handling of PIN Debit transactions, incorrect setup of SIC (Standard Industry Codes) / MCC (Merchant Category Codes), and errors in FSC (Fee Sequence Codes).
Our informative presentation aims to reveal to prospective Merchants their existing Interchange inefficiencies, expressed as rates. By processing transactions through our payment processing rails, these inefficiencies can be rectified, leading to significant additional savings for the Merchant.
Benefits
Once you have been processing with us for a few months, we conduct a thorough review of your statements to ensure that we deliver on our promises. We are committed to providing fixed pricing over cost, and while Interchange rates may vary slightly from month to month, our future effective rate quote for three months ahead carries only a small margin of error, typically ±0.00035 basis points. Moreover, in the majority of cases, this slight variation works in favor of the Merchant.
