Importance

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Abstract

The presently preferred embodiment of the invention comprises a dynamic merchant pricing model that provides any of the following for new and existing merchants: A new or existing merchant is provided with a number of bankcard processing options from which to choose that best suits the needs of the merchant's company, and not what best suits the financial gains of the bank or ISO. Merchants are provided with an option to choose a bankcard processing program that does not penalize their business, based on the facts that they either have little or light processing volumes within the first calendar year, e.g. <$1,000 per month, or processing volumes below the financial break even levels of a traditional bankcard processing program, e.g. <$1,000 per month. Merchants are provided with an on-line merchant statement at the end of each month. Within the month end statement, various other bankcard processing pricing programs are offered as an alternative choice to the merchant's existing processing program. The merchant is also able to view what they would have paid had they chosen one of the other processing programs based on the month-end bankcard processing volume their business completed the prior month, as that volume is reflected on the merchant's month end statement. Merchants are provided with an option to switch bankcard processing programs automatically at the end of each month to a program that best suits the needs of their company.

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First Claim