Xccept’s mission is to provide merchants with the highest quality, affordable payment processing solutions they need to satisfy their customers. Their merchant accounts include interchange, surcharging, ACH, and cash discount options so you can save money on every transaction. They also offer zero fees processing services. Below are factors that affect payment processing fees.
Interchange fees
The interchange rate helps banks cover the costs of processing payments, which means it’s a cost that will be passed along to customers in the form of higher prices.
Factors Affecting Interchange Rate
Brand of The Card
One of the factors affecting interchange rates is the card brand. There are different card brands, and each one charges different interchange fees.
If you want to reduce the processing fees your company pays, you should choose a different card brand than the one used by your competitors.
Type of Card You Use
The most crucial factor affecting interchange rate is the type of card used. Credit cards have higher fees than debit cards because they have more risks. Debit cards have lower charges because there are few risks.
How is Your Card Processed?
How you process your card is a significant factor affecting the processing fees. For example, your processing fees are lower if you use swipes instead of online transactions. It’s because there is not much risk involved in swiping transactions.
Hopefully, this article will help you with the factors affecting payment fee processing. For more information about Xccept and their offers on zero fees processing, visit their website https://xccept.com/.
