Cheaper credit card processing rates than bank

cheaper credit card processing rates

Cheaper Credit Card Processing Rates

cheaper Credit Card processing rates, Every merchant wishes for low rates for credit card processing from its Credit Card processing company. There are many Credit Card processing companies that will not tell you everything about the fees that they charge you, i.e. the breakdown of the fees you pay them on every transaction.

If you are a merchant for a long time, you know that payment processing companies charge you a fee for every payment made by your customers using their credit cards. Something that you might not know is that several big banks offer the opportunity to merchant to directly deal with them without having to involve a third party payment processing company as a middleman.

The banks do this so that they can avoid the commission they pay to third party payment processing companies. Many merchants like to directly deal with the such banks and pay them the fee whatever they charge, however having a third party payment processing company to help you with payment has its perks. Few benefits of involving a third party company, and at the same time having cheaper Credit Card processing rates then the bank are:

Cheap Credit Card Processing Rates Process:

  • Flexibility: we do not hesitate in negotiating with Merchants in terms of fees. Banks usually have a fixed flat rate of fee that they charge every single Merchant, whether small or large. People tend to feel more secure when directly dealing with the bank, however, this is a myth.
  • direct deals with the banks you don’t get to enjoy the perks of having a third party payment processing company, especially in cases of disputes and billings. The banks are too busy to handle your disputes adequately because according to them they are doing you a favor by letting you directly do business with them.
  • There are fees like statement fees, batch fees, PCI compliance fees, etc. that payment processing companies simply remove for you, in case you request them to.
  • You have other options then paying a fee, you can ask your payment processing company to give you terminals on rentals and not charge a fee, in case your savings is less in your business.

Customer support and updated Technology: In Merchant Industry you can rest assured that you will have a much better customer support than the bank. In terms of saving money on fee, our technology is always more up to date then the banks, saving you huge amount of fees.

  • When your transaction for the day is not processed within 24 hours you have to pay twice the amount of fee on the same transactions, payment processing companies make sure that that doesn’t happen because they do not want to disappoint you or lose you as they are customer.
  • high risk of fraud in your business will end up paying a higher fee. Payment processing companies make sure that that doesn’t happen. At the time of installation and setup of the payment processing system, they make sure that all your information is accurate. They offer you a POS system where you can enhance your security yourself by setting up certain policies of answering security questions to validate transactions.

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