💰The most asked question on every merchant’s mind is: How do I reduce my credit card processing fees?

It’s a good question, but a complicated one.
Here are some tips on the best ways to lower your processing fees.

Understand that merchant accounts and gateways are different. Merchant accounts are online bank accounts that allow a business to accept payments by debit or credit cards. Payment Gateways are an application service provider that authorizes transactions and processes payments. Doing business with a company that offers both will save you time, money, and headaches.

Make sure you are PCI compliant. PCI compliance is a set of security standards that protects credit card information. There is a fine imposed for PCI non-compliance, and if your merchant service provider has not tried to get you PCI certified, you need to find a new one as soon as possible to avoid costly non-compliance fees.

Choose the right solution for your need. Use a merchant services specialist, not a bank. Banks often contract merchant services out to a third party and charge you for the additional cost of handing off your business to someone else.

Avoid the middleman. A great company will offer 24/7 in-house customer support and connect you to a reliable relationship manager, without trying to lock you into a contract. It will also provide chargeback management, integrated payment solutions, and a secure payment gateway.

Before you sign anything, make sure your provider is offering flat-rate pricing. This ensures you will not pay any hidden fees. Tiered pricing is a red flag. With tiered pricing, processors can choose which rates to charge you. Typically, they will choose the highest rates possible.
Stay away from rounding. Most companies will round in their favor, not yours.

Interchange plus pricing is also a good option, as it offers fixed rates. You’ll know exactly what you’re paying — no hidden fees!

Ask your merchant service provider about application/sign-up fees, long-term contracts, installation/upgrade/support fees, monthly minimums, minimum transaction sizes, and monthly maintenance fees. You’ll not only ensure that you won’t find any unanticipated charges on your statement, but also convey that you know what you are looking for.

Other helpful content:

➡️ What Are the Average Credit Card Processing Fees That Merchants Pay?
[ Ссылка ]

➡️ 6 Ways Small Businesses Can Get the Cheapest Credit Card Processing
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Call now for a complimentary cost savings analysis.
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