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In this week’s episode of Clearent Connects, Phil and Lauren explain EIRF or the Electronic Interchange Reimbursement Fee. This interchange rate fee is a charge applied to your statement when a transaction doesn’t qualify for an interchange category. Learn what causes this charge to happen, and what can you do to avoid getting EIRF’ed!
Clearent Connects is the in-house podcast for Clearent, your partner for payments. Each week, we’ll help unravel some of the mystery of what happens when a customer puts ther card into a terminal or clicks “Buy Now” online. Featuring interviews with technology experts and stories from small business owners, we’re here to share tips and stratiges on keeping your business growing with the changing technology and times.