Merchant Account Fees
Is it Legal to Charge a Credit Card Fee? – SecureGlobalPay
Many businesses come to us asking whether it’s legal to pass on the processing costs to their customers. The short answer? Yes, but with some caveats. To give you a more nuanced answer, we have to delve into a web of regulations, types of fees, and best practices that merchants need to follow. So in
What is a Convenience Fee and How it Differs from a Surcharge
Over the past few years credit cards have become the most used payment method. For many businesses out there, this means high credit card processing costs — and lower profits. One common way merchants can reduce some of the costs associated with accepting credit card payments is to charge a convenience fee. In this article,
How to Implement a Merchant Surcharge Program
In 2022 alone, US merchants paid a record 161 billion in processing fees. As the number of credit card purchases continues to increase, it’s unsurprising to see more and more merchants implementing surcharge programs in an effort to lower their processing costs. Currently, it is estimated that 5-10% of US businesses who already accept credit
Dual Pricing in Credit Card Processing – No Transaction Fees
Rising credit card processing fees have been putting pressure on merchants for a while, and the landscape keeps getting worse. Towards the end of 2023, Wall Street Journal published how Visa and Mastercard plan to increase their rates, costing merchants an additional $502 million annually in processing fees. Learn how dual pricing merchant services and
No Cost Merchant Services – A Comprehensive Guide
No cost merchant services refer to a range of financial services that enable businesses to accept electronic customer payments while reducing or offsetting the fees associated with the services. These services can include credit and debit card processing, point of sale (POS) systems, and online payment gateways. However, traditional merchant services can be expensive, with
Zero Fee & No Fee Credit Card Processing Explained
As businesses rely more on accepting credit card payments, they need reliable and affordable payment processing. No fee credit card processing, also know as zero fee merchant processing is a solution designed to assist compliant merchants in minimizing fees when accepting debit and credit card payments. In this post, we will explain everything you need
Merchant Surcharge – What is It and How Does it Work?
Merchant surcharge rules are contentious and continue to be a source of debate in the United States. A merchant surcharge program allows for a convenience fee that a business may charge its customers in addition to the base price of an item or service when paying via credit cards and debit cards. Merchant surcharges are
How to Implement a Cash Discount Program and Lower Your Merchant Processing Fees
A cash discount refers to a reduction in the price paid for goods or services which sellers offer customers in order to incentivize cash payments. It’s a common method merchants use to encourage quick payment, reduce fees associated with credit card processing, and improve their cash flow. When implemented correctly, cash discounts programs are completely
How to Read a Payment Processing Statement
The payment processing statement is perhaps the last thing you want to see when you spend your day owning or managing a business. Learn how to read your merchant card payment processing statement by identifying a few key components before requesting a statement analysis from your payment provider. Your merchant card processing statement is a
How Much Does It Cost to Process Credit Cards?
Partnering with a credit card processing company and payment services provider is a great option for growing your business and increasing revenues. However, when business owners first start thinking about accepting non-cash payments, the first question that comes to mind is, “how much does it cost to process credit cards?” What are the advatanges and