Merchant Bill of Rights
As a small business owner, you deserve transparency
Small business owners face more headwinds these days than ever before. One of those challenges shouldn’t be payment processing. Promoting transparent and fair credit, debit and prepaid card processing is in Heartland’s DNA. It’s why we first published The Merchant Bill of Rights back in 2006. We firmly believe these rights are self-evident and should be the industry standard.
Your rights as a merchant
Knowing your rights can help you better advocate for your business to potentially save on processing. You deserve to know how payment processing works, why it costs money, how to tell if what you’re paying is fair, and how to pick a good provider. Let’s walk through your Merchant Bill of Rights.
1. The right to know the fee for every card transaction ― and who’s charging it
Fees shouldn’t be hidden. You have the right to fair and transparent credit, debit and prepaid card processing, no matter your rate structure. This includes a straightforward processing statement that clearly explains what you’re paying and why.
2. The right to know the markup of Visa®, Mastercard®, Discover® and American Express® fee increases
Markups should be disclosed. You have the right to know what you’re paying in interchange fees — including when any changes — and when you’re paying markup on that interchange from your processor.
3. The right to know all Visa, Mastercard, Discover and American Express fee reductions
Passthrough should work both ways. You have the right to know about — and receive — fee reductions and grant incentive programs when offered by card brands. Fee reductions and incentive programs can significantly impact your bottom line — so your processor should pass along those savings.
4. The right to know all transaction middlemen
No one wants to deal with middlemen — and you shouldn’t, either. You have the right to know all the players in a credit card transaction, since each party gets a cut. The fewer third parties involved in your services, the less you’ll likely pay.
5. The right to know all surcharges and bill backs
Fees should deliver value. You have the right to know what additional processing charges are included in your bill and see them listed separately from the base rates you were quoted.
6. The right to get the best rate structure for your business type
Rate structures vary. You have the right to know which pricing structure is the most cost-friendly to your business based on its processing habits.
7. The right to encrypted card numbers and secure transactions
Data security is crucial. You have the right to robust card data security and data encryption through state-of-the-art technology to prevent card data theft at your business.
8. The right to real-time fraud and transaction monitoring
Fraud monitoring reduces bad transactions. You have the right to regular, ongoing real-time detection and protection from payment fraud.
9. The right to reasonable equipment costs
Hardware and SAAS fees shouldn’t mask markup costs. You have the right to affordable equipment — whether buying, leasing or renting a POS. This includes reasonable terms that allow for monthly payments over a multi-year period.
10. The right to real-time customer support
Support should be available when you need it. You have the right to live customer support 24 hours a day, 7 days a week, 365 days a year because any disruption in service can cost you money — and customers.
Your guide to the ‘Merchant Bill of Rights’
Take a deep dive into the MBOR, payment processing, and why Heartland created a bill of rights for small businesses.
The lifecycle of a credit card transaction
This beginner’s guide breaks down the credit card authorization process, including all the players and steps from swipe, dip or tap to funds hitting your bank account.
Guide to fintech security for small businesses
Accepting payments means complying with established data security standards to protect cardholders — and your business.
We honor your rights
Every entrepreneur deserves the clear and straightforward presentation of credit card costs.