For most business owners, reviewing merchant agreements and monthly billing statements isn’t the top priority. And even if it was, the statements are often confusing, with dozens of interchange categories, assessment fees, and more. A lot of business owners therefore just focus on a few key variables: their rate and the total cost. But that can miss important areas for saving. And with processing costs taking a bigger bite of your bottom line, it’s important to maximize those savings. Many avoidable fees are easy to overlook because they’re small or are charged inconsistently. But they add up quickly, often to the tune of hundreds or thousands of dollars per year. In this article, I’ll go over 7 (usually) avoidable fees that might be hiding in your processing statement.
