It’s elementary: Nonprofit organization for school psychologists finds funding

The National Association of School Psychologists (NASP) is a professional society based in Bethesda, Maryland that supports professionals concerned with the mental health and educational competence of children.

NASP has annual sales of approximately $5 million. Much of the money is generated through membership dues, conference registration fees and publication subscriptions. Payments typically are received by credit card.

NASP used multi-tier pricing structure

The multi-tier pricing structure used by NASP’s merchant card processor had been in effect for a number of years. Under the multi-tier pricing method, rates for transactions vary depending on how the credit card is processed (physically swiped through or manually keyed into a terminal or via the internet).

Working with industry experts from Expense Reduction Analysts (ERA), NASP found a new vendor that offered a cost-saving Interchange Plus price structure.

New pricing offers many advantages

Under this pricing method, NASP pays a fixed mark-up — regardless of how the credit card is processed — plus the actual processing costs charged by MasterCard and Visa.

The new pricing structure reduced the effective rate a significant 0.78%, from 3.07% to 2.29%.

Interchange Plus pricing offers NASP complete transparency of transaction processing and pricing, and also provides management with information to manage the controllable portion of merchant fees.

 

Extra funds are now available for mission focused grants, research, and scholarships.

 

 

 

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