Submitted by: Submitted by mawdud
Views: 137
Words: 598
Pages: 3
Category: Business and Industry
Date Submitted: 06/03/2013 04:47 AM
Dear Sir,
This is my pleasure & privilege to introduce you about some of activities/operation areas regarding card business which may attract your attention. IFIC BANK LTD started its card business during June, 2007 and already captured a significant portion of market share. Our cards are acceptable at ATM booths and merchant POS carrying Visa & Q-cash logo. In addition to card issuance, the bank also acquires both Visa Cards & Q-cash through its large merchant network as mode of payment for the goods and services sold by the merchant.
Now, we are going to introduce promotional campaign regarding discount merchant outlet & a very special offer to IFIC credit and debit cardholders. If you are ready to be a partner of us, you will get some benefits.
Discount merchant outlet is the rate charged to a merchant by a bank for providing debit and credit card services. The rate is determined based on factors such as volume, average ticket price, risk and industry. The merchant must set up this service with a bank, and agree to the rate prior to accepting debit and credit cards as payment.
The average merchant discount rate is between 1-3% . However, for online merchants, the rate tends to be higher. This applies to merchants that deal both online and in-store. They will often pay a higher rate for their online sales.
1. Purpose
* Companies providing credit card services make money from merchants by charging a discount rate. The discount rate is a percentage charged for each transaction accepted by a merchant. The merchant's sales amounts are discounted based on this rate, causing the merchant to receive a discounted amount of the credit card purchases.
You have to consider that most merchants are already making a hefty profit on their goods. When you will enter into an agreement with IFIC Bank to offer a discount for using their cards, they are compensated by us per transaction although usually at a lower rate than the discount...