As a business if you take any kind of credit card payments there are different transaction fees for the different ways people pay. It is always good to review your monthly merchant service invoice to stay on top of your own expenses. By reviewing your merchant service invoice you could save your business hundreds to thousands of dollars per month.
All merchant service providers have different transaction fees. Transaction fees are determined by how your customer pays. If they pay using their chip, there is a fee. If they pay swiping, there is a fee. If they pay and you have to manually enter in their card, there is a fee. Some fees are higher than others, depending on how you choose to take their payment. Since you can’t force clients to pay a certain way. You can choose which merchant service provider to use to help lower costs of certain transactions fees.
Some merchant providers charge incremental rates based on how much volume you do. The more you sell the less you pay in credit card fees. The less you sell the more you pay in monthly credit fees. All things to look at and consider when choosing a merchant service provider.
Reviewing your merchant service provider invoice allows you to review trends, rates, and options. Shop other merchant service providers to get an idea of other cost effective solutions. Just because you have been with one vendor for a long time doesn’t mean they are cost effective to your bottom line profits.
Contact C Three Business Consultants today for a free credit card statement assessment. Allow us to see where we can SAVE YOU MONEY!