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A-detailed-guide-to-credit-card-processing-fees!

Credit card processing fees can be confusing and frustrating.

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A-detailed-guide-to-credit-card-processing-fees!

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  1. A Detailed Guide To Credit Card Processing Fees! Credit card processing fees can be confusing and frustrating. You know you're paying them, but you may not know exactly what they are or how they work. This guide will help you understand credit card processing fees so that you can make informed decisions about the best way to process your business's transactions

  2. What are Credit Card Processing Fees? Credit card processing fees are the fees charged by credit card companies and processors for the privilege of accepting credit cards as payment. These fees can vary depending on the type of card being used, the processor, and the terms of your merchant account. Generally, there are three types of fees associated with credit card processing: interchange fees, assessment fees, and processor fees.

  3. Interchange Fees Interchange fees are the fees charged by the credit card companies themselves. These fees are set by Visa, Mastercard, Discover, and American Express, and they are non-negotiable. The interchange fee is a percentage of the transaction total, plus a flat per-transaction fee. For example, a typical interchange fee for a Visa credit card transaction might be 1.51% + $0.10.

  4. Assessment Fees Assessment fees are the fees charged by the credit card associations (Visa, Mastercard, Discover, American Express) to cover the cost of running their networks. These fees are also non-negotiable. Assessment fees are typically a flat per-transaction fee, but they can also be a percentage of the transaction total.

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