SalesHEAD Guide to Reducing Credit Card Processing Costs
It’s the beginning of the month again and time for that dreaded credit card statement to arrive.
Opening the statement is kind of like getting a kick in the pants! We cringe when we see how much money has literally been taken from our pockets. And who can understand the statement anyway?
Believe me, you are not alone, credit card processors have hundreds of ways of disguising costs and keeping customers like you from ever figuring out how to save money.
Since accepting card payments is a must for most businesses, we believe that education is the key to making more informed decisions, and in turn, saving money for your business. In this article, we will shed light on how the card processing industry works, who the players are that are reaching into your pockets and how the method in which you accept card payments impacts your costs. We will also dissect the various pricing structures utilized in the industry, define some of the key terms you may see as well as explain how the various cards in your customer’s wallets also affect your costs each month.