DVBE Spend
How Exactly Is the DVBE Spend Amount Determined?
Click the DVBE Spend Meter For Details
Learn how Ignite Payments-Fairmed/Fairmed can help you achieve your DVBE diversity spend goals.
If your company’s goal is to increase your DVBE Spend, then part of the challenge is finding a Prime or Tier Two DVBE that provides enough service, and therefore dollar expenditure, to move the needle.
We provide a 1.7 percent average figure, but the DVBE Spend amount is actually a variable based on three factors:
- The type of transaction: face-to-face or online (card not present)
- The type of credit card issued/used: rewards and/or business cards
- The type of sale (your business vertical and applicable Interchange Tables): utility, education, retail, grocery, etc.
Ignite Payments-Fairmed/Fairmed, Inc. – a certified DVBE – is pleased to offer a unique tool: a formula for calculating your DVBE spend. Simply take your current Visa®, MasterCard®, and Discover® processing volume received through your website and/or point-of-sales (POS) and multiply that dollar amount by 1.7 percent (which is the average cost-of-goods in merchant processing based on the three variables listed above) and then add a little profit for the DVBE.
First Data is our powerhouse support. Ignite Payments-Fairmed/Fairmed is backed up and supported by over 37,000 First Data employees.
DVBE Spend Formula: Visa® MasterCard® Discover® processing dollars X 1.7% = DVBE SPEND
