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Want the Cheapest Credit Card Processing? Surcharging May Be the Answer

Stax

TL;DR Credit card processing fees eat into the profits of small businesses. Surcharging offers a way to pass credit card processing costs to the customer, letting businesses keep their earnings. Tiered pricing can hide true costs, as it lumps transactions into categories without disclosing exact interchange fees.

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The Price of Convenience: Is There Such a Thing as Free Credit Card Processing?

Stax

In this post, we’ll explore what surcharging entails and how it helps you tap into zero percent credit card processing. TL;DR Surcharging is a method for businesses to offset credit card processing costs by passing them on to customers. To understand surcharging, you have first to understand credit card processing costs.

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Surcharge vs. Convenience Fee: What’s the Difference?

EBizCharge

As payment processing costs continue to rise, many businesses are looking for ways to offset these fees. Two popular options—credit card surcharges and convenience fees —can help recover some of these costs. Used by merchants who want to keep prices competitive without absorbing card processing costs.

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How Do You Offset Credit Card Processing Fees?

EBizCharge

They charge these fees to merchants every time a customer uses a card payment to cover the cost of handling transactions and the risks involved. These fees can vary depending on factors like card type and transaction volume. Assessment fees are imposed by credit card networks to cover the cost of operating their global networks.

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Statistics on How Much Merchants Pay for Payment Processing in 2024

Clearly Payments

North American payment processing fees are the highest in the world due to a combination of factors, including high interchange rates , which can exceed 2% per transaction, and the dominance of major card networks like Visa and Mastercard that control over 80% of the market. Unlike Europe, where interchange fees are capped at 0.3%

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What Is a Credit Card Surcharge?

Stax

Purchase volumes through credit cards jumped 51% between 2015 and 2021. However, the idea of applying a credit card surcharge to offset the processing cost of credit cards has always been a hotly debated topic. By using a credit card surcharge, the transaction cost shifts from merchants to customers.

article thumbnail

What Is a Credit Card Surcharge?

Stax

Purchase volumes through credit cards jumped 51% between 2015 and 2021. However, the idea of applying a credit card surcharge to offset the processing cost of credit cards has always been a hotly debated topic. By using a credit card surcharge, the transaction cost shifts from merchants to customers.