Rectangle Health regularly sends notices to its customers regarding new rate increases, updates, and changes to credit card processing pricing.
Here at Merchant Cost Consulting, we stay up to date on those notices so you can stay informed about the latest interchange fees and changes to your statements.
Rectangle Health Rate Increase (Effective June 1, 2024)
As of June 1, 2024, Rectangle Health is increasing its processing rates 0.40% per transaction. This will be applied to all Visa, Mastercard, American Express, and Discover cards processed through Rectangle Health.
Here’s a copy of that notice that we obtained:
Check out our Rectangle Health review for a more pricing information and a complete breakdown of its statements.
Visa Updates For Rectangle Health
The following new acceptance fees apply to the US region as of 4/1/2022:
- VS Address Verification fee — $0.001
- VS Issuer Never Approve DOM — $0.10
- VS Issuer Never Approve Cross Border — $0.15
- VS Issuer Never Approve will bill for the first attempt and each subsequent reattempt for any Category 1 decline.
Mastercard Updates For Rectangle Health
The following changes apply to the US region for Mastercard transactions as of 4/1/2022:
- MC Digital Enablement fee increasing from 0.01% to 0.02%*
- MC Installment Fee Group A — 1.30%**
- MC Installment Fee Group B — 0.10%**
- Mastercard Pre Arbitration Fee — $15.00***
*There is a minimum $0.02 and maximum $0.20 bill amount established for this fee.
**For buy now, pay later transactions.
***Case filing feature allowing customers to resolve disputes before arbitration.
American Express Updates For Rectangle Health
The following Amex changes for the US region go into effect on 4/1/2022:
- Amex Participation Assessment fee increasing from $0.16% to 0.165%
- Amex Acquirer Transaction Fee — $0.02. This is a new fee that gets billed on all credit purchases and will be excluded from debit transactions and refunds.
Discover Updates For Rectangle Health
The following Discover changes for the US region go into effect on 4/1/2022:
- Assessment fee increasing from 0.13% to 0.14%
- Discover Account Verification fee — $0.02*
- Discover Address Verification fee — $0.005*
- Discover Digital Investment fee — 0.01% (for CNP transactions)*
*New fee.
About Rectangle Health
Rectangle Health is a financial technology organization operating in the medical, dental, and specialty healthcare space. They offer payment processing solutions including:
- Card on file (CoF)
- Contactless payments
- Mobile payments
- Online payments
- Text to pay
- Patient financing
With over 30 years in business, Rectangle Health processes over $6 billion per year in patient payments from 36,000+ healthcare providers.