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by: Bret Morrison - posted (or last updated): 8th, January 2009

Mastercard Merchant Accounts:
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Mastercard merchant accounts are obtained from any of the acquiring banks or their affiliates and it is not obtained directly from Mastercard corporation itself. In fact Mastercard is an association and not a banking institution. This is very different than both Discover and American Express whereby both provide merchant accounts directly and not through other parties.

The integration of Mastercard merchant account is done through the merchant account provider and the payment gateway service that you get from a processor. You will need to have integration instructions for having a payment gateway compatible with your merchant banking.

Unlike Discover and American Express, the fees for Mastercard merchant account is somewhat complex.

Mastercard merchant account fee structure

Application fee of $100-$200 (but most often, it is waived)
Setup fee of $50-$300 (but most often, it is waived)
Discount rate: about 2.1% is reasonable enough (Interchange rate and fees are misleading)
Transaction fee: about 12-25 cents per transaction (this is negotiable with your provider)
Monthly minimum of $25 (this is often non-negotiable)
Monthly statement fee of $8-$10 (this is negotiable with your provider)
Statement fee/Customer support fee/Software fee - all are silly fees and should be waived
Chargeback fees are about $20-$25 per chargeback

For more information on fees description, see credit card merchant fees.

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