The Strawhecker Group is an advisory/consulting group for us in the Payments Industry. And they’ve recently come up with a compelling infographic explaining swipe fees — what they are, and where they go.
Tag: Compare Merchant Services Fees
Fees to Consider as you Compare Merchant Services Fees
When businesses compare their revenue to the revenue of businesses that offer more payment options, implementing those additional options often becomes a priority. For most businesses, increasing payment options requires contracting with a merchant service, an organization that is backed by a bank and offers a variety of payment processing options.
Compare Merchant Services Fees: Facets Affecting Overall Charges
If your business operates online, the ability to process credit cards is a necessity. Consumers want the additional convenience of being able to make a payment for services or products online. They also prefer to use a credit card because of the extra security it provides for each transaction. Adding this payment method is a great way to match the competition, increase profits, and grow as a business. However, it can also be very costly if you do not compare fees appropriately. Stepping into this new business realm blindly is never recommended.
