In the world of payment processing, merchants are often confronted with a crucial decision: which pricing model should they adopt? Among the various pricing options available in payments, two stand out as the most popular and widely used: flat rate pricing and interchange plus pricing, also known as cost plus pricing. Each of these models […]
Credit cards have revolutionized the way we transact, providing convenience and security for consumers worldwide. However, for merchants, accepting credit card payments comes with fees that range from 1.9% to sometimes well over 5%. In this article, we cover some of the credit cards that are known to be more expensive for merchants. By understanding […]
Payment processing and point-of-sale systems can be complex and frustrating at times. The Toronto Star article titled “All Stick, No Carrot: Store Owner Balks at Sales Terminal Company’s Fee for a Service He Doesn’t Need” discusses the frustration of a store owner who is being charged for a service he does not require. The owner […]
Interchange rates are fees that merchants pay to the banks that issue credit cards for processing payments. These rates vary depending on the type of credit card, the transaction amount, and the merchant’s industry. This article focuses on the credit card type from the basic starter credit card to the exclusive and fancy “black” credit […]
Interchange rates are fees that merchants pay to credit card processors and issuing banks for accepting credit card payments. The fee is based on things such as the type of credit card being used (premium, rewards, basic, etc), the type of transaction (in-person, online, etc), and the type of business (high risk, low risk, etc). In […]
Interchange fees are the biggest part of the fees that merchants pay whenever a credit card is used for a transaction at their business. This fee is paid by the merchant to the issuing bank as a percentage of the transaction amount. There are also additional fees that merchants pay for processing the payment. This […]
In credit card processing, a chargeback is a process by which a cardholder disputes a charge on their credit card statement with their issuing bank. The card issuer then investigates the dispute. If the issuer finds it was a false or incorrect charge, they will reverse the charge and refund the credit card holder’s money. […]
Interchange fees, also known as swipe fees, are charges that merchants pay when a customer uses a credit card to make a purchase. Sometime interchange rates also apply to debit cards, in particular Visa Debit Cards. Interchange fees are primarily a percentage of the total transaction amount and they are paid to the issuing bank of the […]
As a business owner, one of the most important decisions you’ll make is which forms of payments to accept. American Express (AMEX) has over 100 million credit cards in circulation and is a widely recognized and accepted credit card, but is it the right choice for your business? In this article, we’ll explore the benefits […]
One of the great things about credit card processing is that funds are deposited into your bank account within one or two days without having to go to the bank. Everything is digital. However, not all payment processors are equal. Some do same day or next day funding, like Clearly Payments, and some payment processors […]
