Wholesale pricing is Fortis actual cost to run that transaction. This means there is 0 profit markup for Fortis in the transaction.
Every time you swipe a card visa, mc, amex & discover charge a % fee to the merchant (you). Just like when you go to the gas station or grocery store and use your rewards card to get your points, the gas station or grocery store is paying for your rewards. The same is happening when your patients come in and use their cards in your office.
Most companies mark up each transaction with per item fees (15-50 cents per transaction), an unknown % markup and lots of other junk fees. The problem is you have no idea what you are really paying!
Fortis is giving you the processing at the lowest possible cost with NO PROFIT MARKUP ON EVERY SINGLE TRANSACTION. We don’t care if it is swiped, from a stored card or a recurring transaction!
What this has done is brings the average office overall rates (total fees / total volume) to 1.5%. We even have some offices that run lots of debit transactions as low as 1.2%!!! Every office will be slightly different due to their card mix (debit vs credit vs rewards vs amex)… but rest assured, it is the lowest possible overall rate!!