Understanding how credit card processing fees are determined and how different merchant account pricing models work can save your business hundreds of dollars a month in transaction costs. One of the first questions you’ll ask is “Which should I go with, tiered pricing or interchange plus?” Tiered pricing is never in your best interest, but don’t […]
Tiered pricing or interchange plus? How do you know what’s best for your business?
First of all, what does “credit card processing fees” actually mean? There are several different rates and fees that make up your total processing cost. In this article I’ll explain the different aspects that contribute to the fees to give you a solid understanding of who’s charging what and which areas of cost you can […]
Credit card processing fees seem complicated. But take away the sales jargon and it makes more sense.
This often leads to lower costs when compared with other forms of pricing such as tiered or bundled. But what IS interchange plus pricing, exactly? And is it the best pricing model? In this article, we’ll explain interchange plus in detail and take a look at the benefits. What is interchange plus pricing? Interchange plus […]
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 shortened from “interchange reimbursement fees,” interchange refers to a set of categories that are used to determine the rates for individual card transactions. Every category has requirements for eligibility and a rate associated. Interchange can be a complex topic. For the purposes of this article, we’ll include a simplified overview, and a detailed explanation. […]
Accepting credit cards at a business comes with costs. The largest portion of the costs is known as interchange.
For businesses searching for a new merchant account without actual processing data, the effective rate should be interpreted as a general indicator of cost-effectiveness — not as a precise measurement. However, it is still extremely important in determining the best processing solution. Basics of Effective Rate and Processing Fees Examples Example A Example B Basics […]
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 your current processing solution.
It may be tempting to hire a credit card processing consultant in order to lower your processing fees. But consultants are often expensive and cut into your savings. Add to that the fact that you can get the benefits of a consultant through CardFellow for free, and a credit card processing consultant won’t seem like such […]
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 pricing is becoming more popular as businesses try to find ways to cut credit card processing costs. This type of pricing can be competitive, but there is an element of marketing spin that can sometimes make it seem better than it actually is. Subscription flat rate pricing is available from some processors in the […]
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.
Use the secrets that credit card processors don't want you to know to drastically lower your credit card processing fees.
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