Show HN: Pass in data to Visa and cut your credit card fee by 50%(demo.runtrellis.com)
demo.runtrellis.com
Show HN: Pass in data to Visa and cut your credit card fee by 50%
https://demo.runtrellis.com/projects/sec-filings/assets
3 comments
In the world where even 5% makes the difference, 50% sounds like a magic :)
Is the URL (https://demo.runtrellis.com/projects/sec-filings/assets) related to the rest of the text? That's reads like you want to promote the blog post.
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Credit card interchange fees are expensive. These fees are what the credit card networks like Visa and Mastercard charge the merchant (you) whenever your customer swipes their card. Stripe or your payment processor passes these fees onto you.
To incentivize data collection, Visa and Mastercard lower your fees whenever you pass in transaction data like zipcode, sales tax amount, invoice amount, customer address, itemized purchased services or goods, and the list goes on.
This is called L2 and L3 data, and you can pass this into Stripe (or your payment processor) to lower your credit card fees.
Parsing invoices manually to provide L2/L3 data to Visa is a pain. But with Trellis, you can do this automatically within seconds for any invoice. Watch how we do it here: https://runtrellis.com/blog/how-passing-in-data-to-visa-can-...
If you’re a business and you accept credit cards, you can cut your credit card processing fee in half.