Like many credit card processors, Clearent is constantly making updates and changing its processing fees. Here at Merchant Cost Consulting, we keep track of these changes and publish them so you can stay informed.
You can also check out our complete guide to interchange fees and rates to learn more about how these fees work and where they’re coming from.
Here’s a summary of the latest interchange updates and rate increases from Clearent.
Clearent Rate Increases and Credit Card Processing Updates
Merchants using Clearent for credit card processing received a notice on their latest statement regarding new changes effective 4/1/2022. Here’s a summary of those changes, rate increases, and updates:
- Effective April 1, 2022, any business required to run quarterly network scans must complete and pass those scans to avoid PCI Non-Compliance fees.
- Clearent is updating the terms and conditions of its Merchant Agreement. To see the revisited agreement, visit www.clearent.com/merchantagreement.
- An increase will be applied to all settled Visa, Mastercard, Amex, and Discover volume. This increase is a discount rate of 9 basis points, which is equivalent to 0.09%.
Clearent Merchants who need help with PCI compliance are urged to contact the PCI Help Desk at 855-864-1732. The help desk is open from 7 am to 7 pm Central, Monday to Friday.
Additional Reading: Clearent Review: Pros, Cons, and Pricing Comparison
About Clearent
Clearent is branded as an “intelligent credit card processing” solution. The company was born in 2005 when CEO and founder, Dan Geraty, launched Clearent in his hometown of St. Louis, Missouri.
The following year, they created an online reporting tool designed to add transparency and clarity to credit card processing statements. In 2008, Clearent became a certified credit card processor for Visa and Mastercard. It wasn’t until 2014 that they began processing Discover and American Express.
Today, Clearent provides a wide range of features, benefits, and solutions to 45,000+ merchants across multiple industries. Some of these features include EMV chip certification, next-day funding, and more.
Clearent also likes to acquire ISVs (independent software vendors) in niche categories, like dry cleaning and field service management.