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The Hidden Costs of Payment Processing No One Talks About

Clearly Payments

The Many Types of Payment Processing Fees Below is a breakdown of the lesser-known or hidden fees that can show up on your monthly statements: Interchange Fees What It Is: The fee paid to the card-issuing bank every time a customer buys something with a credit or debit card. Cost Range: Usually 1.5%3.5% on top of interchange fees.

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How Do You Offset Credit Card Processing Fees?

EBizCharge

and can cover the costs associated with transferring funds between banks, fraud prevention, and compensating card networks, payment processors, and issuing banks. Assessment fees are imposed by credit card networks to cover the cost of operating their global networks. These fees typically range from 1.5%

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What Is Accounts Receivable Factoring?

EBizCharge

A factoring company specializes in purchasing outstanding invoices by assessing the credit risk associated with unpaid invoices and providing an advance rate, which is a percentage of the invoice’s value. The AR factoring company evaluates these invoices by assessing the debtor’s creditworthiness.