As I, Dean, reviewed the amounts that NTM was being charged to receive donations for missionaries via credit and debit cards, I realized that our rates were higher than for commercial businesses. With the permission of the finance team here, I contacted multiple merchant services companies and asked them to submit bids. After several weeks of research and discussions, we chose a company who lowered the rates that we are being charged by 33%. The finance team was unable to do this before, because they did not have enough staff to handle that task. Because God led me to come and work on the team here, we have had time to do this. That in turn means that $25,000 of our donors’ hard-earned donations can go to spreading the gospel, instead of going to the credit card company. Thank you for your part in the work to make this possible!
To answer the question in the title of this article, pass-through interchange rates are the amounts that credit card companies charge businesses to accept credit card payments. Our missionaries pay these fees when someone donates to them with a credit card. Because we were able to move our donation processing fees to this pricing structure, we were able to reduce the amount that our missionaries have to pay to receive credit & debit card donations.