Credit card processing fees seem complicated. But take away the sales jargon and it makes more sense.
Interchange plus pricing is a credit card processing pricing structure that separates the components of processing costs allowing for transparent reporting and interchange optimization often leading to lower costs when compared with other forms of pricing such as tiered or bundled.
Accepting credit cards at a business comes with costs. The largest portion of the costs is known as interchange.
For businesses that already accept credit cards and have actual processing data, the effective rate can be interpreted as an exact measure of the competitiveness of the current processing solution.
Credit card processing consultants offer to negotiate with your credit card processor to lower your costs. But is it the best way to save your business money?
Subscription or membership flat rate merchant accounts are one option for businesses that want to take credit cards. A subscription pricing model is one in which a credit card processing company charges a fixed cost instead of a percentage of your sales.
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