Merchant fees for Credit card processing?
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What does it cost a business when a person uses a credit card to purchase something (The rate charged). I would like the fees the businesses have to pay for Visa, Mastercard, Discover and American Express.
Merchant fees for Credit card processing?I use Simple Payment Systems. They give you the equipment for free and also free software to accept credit cards online.
The discount Rate is 1.79% and a .25 transaction fee. Example $100.00 transaction =$2.04 (Cost to business owner) $100.00=1.79%+.25=$2.04
Merchant fees for Credit card processing?At my hotel, we pay a monthly fee, + 2.5% on Visa and Mastercard purchases
4.5% on AMEX purchases
and 5% on Discover, and Diners Club purchases
If we didn't pay the monthly fee, it would be an additional .5% for all of them.
Merchant fees for Credit card processing?Varies widely. Here in California, Costco was advertising that they would process credit cards for as low as 1.5%. It mainly depends upon the type of business and your transaction volume. AMEX will charge a few percent more.
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