Merchant Accounts And The Fees That Come With It
Credit Card Processor
Merchant Account-Pricing
Your business can be taken advantage of with unnecessary costs from your credit card processor. The aim of this article is to understand how the merchant account-pricing model works and why it’s important to be mindful about it.
Card Processing Companies Card processing companies allow merchants to process payments for a small fee. However, some companies will take advantage of merchants, adding extra and unnecessary charges. When you are shopping for merchant accounts, the fees are probably one of the most important deciding factors. The problem with these fees comes when they’re not disclosed and you’re not expecting them.
PAYING ANYWHERE
Transaction
Hidden Transaction Fees: In virtual cases, you can expect to pay 10-20% whenever your customer swipes a card; even if the transaction is not accepted. If the customer keys in the numbers, you’ll be paying anywhere from 25 to 30% per transaction.
The Company Charges
Transaction Fees
PAYMENT GATEWAY FEES:
MONTHLY MINIMUM FEES:
CHARGEBACK AND RETRIEVAL FEES:
Apart from the fee that a merchant has to pay for using a payment gateway, make sure you understand that the provider might charge for every transaction.
If you do not reach this minimum, you will be required to cover the difference
These fees only occur when a customer contacts the bank to dispute a charge.
Contact Us
ADDRESS US Head Office 10300 49th Street N Suite 427Clearwater, Florida 33762
EMAIL ADDRESS info@merchantstronghold.com
PHONE NUMBER +1 (888) 622 - 6875