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How to reduce your fees. Here are 5 tips you can use to save money on your credit card processing.
Fees
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Merchant account fees are diverse and go beyond just percentage-based transaction costs, encompassing various charges like monthly minimums, statement fees, and authorization fees. Additional fees can include AVS, PIN debit, voice authorization, batch, and online reporting fees, impacting the overall cost of payment processing. Merchants should be aware of these potential fees, such as retrieval, chargeback, ACH reject, gateway, and terminal-related costs, to fully understand their payment processing expenses.- Published on
Businesses can significantly reduce payment processing costs by accepting checks or ACH payments instead of relying solely on credit cards. Credit card fees include percentage-based charges and per-transaction fees, unlike ACH which primarily involves a small per-transaction fee. Switching to ACH, especially with a merchant account, can lead to substantial savings, particularly for larger transactions, compared to credit cards or using third-party processors with higher fees.