Most business owners know that they need to process credit card transactions in order to keep their businesses running smoothly. However, not all are aware that there are free processing options for credit card transactions that help eliminate high-cost, unpredictable fees.
Today, more and more businesses are choosing to process their credit card transactions through a third-party payment processing company like Xccept. This can be a great option for businesses that want to avoid the hassle and expense of setting up their own merchant account and being responsible for uncertain fees.
What Is Third-Party Payment Processing?
Third-party processors group business clients into a single account rather than opening separate merchant accounts for each client. This way, a business can pass along all their credit card processing needs to one handler while only paying a certain flat rate on credit card transactions. This simplifies the process for everyone involved and oftentimes offers free processing or lower rates than opening an individual merchant account.
Without third-party processing, you would need to set up a separate merchant account with a credit card processor. This process can be time-consuming and expensive. With third-party processing, however, the third-party payment processor handles all of the technical details for you. Eligible businesses can benefit from reduced expenses, as well as a quicker underwriting and account approval process. Furthermore, free processing options are usually available as well.
Benefits of Free Processing Options
One of the main benefits of free processing is that there are no setup fees or additional costs associated with it. You also won’t have to worry about dealing with any hidden fees or high transaction costs. Plus, free processing makes it easier for businesses to track payments and manage their finances more effectively.
In addition, free processing typically comes with a number of other benefits. These include better fraud protection, lower rates for high-volume transactions, and certain incentives for members.
Cost-Effective and Free Processing Methods
Interchange-Plus Pricing
In layman’s terms, interchange-plus pricing divides the merchant service fee into two halves. The “interchange” is the cost of the transaction from the issuing bank to the card network to you. The “plus”, or markup, is the price for processing it. This method allows businesses to pay a pre-determined amount for each transaction based on the processor’s markup plus an additional fee based on the type of card being used. However, if a card network changes the interchange fee rate on a particular card, that component automatically adjusts.
Interchange-plus pricing clearly displays your processor’s markup, allowing you to understand how much of a transaction’s cost is going to the issuing bank and credit card association and how much is kept by your processor. This option is one of the most cost-effective methods for businesses, as it eliminates most unexpected fees and allows business owners to have more control over their overall rates.
To simplify, interchange-plus pricing can help ensure that businesses get the best rates and fees possible for their transactions. With interchange-plus pricing, businesses can easily identify the exact fees they’re paying for every credit card transaction, allowing them to determine whether they’re getting a good deal or not.
Cash Discount Processing
Cash discount processing is a free credit card processing solution for businesses that are looking to reduce their overall credit card processing costs. This method allows businesses to pass the cost of processing credit card transactions onto customers instead of absorbing it themselves.
Typically, cash discount processing works by charging customers an additional fee if they choose to pay with a credit or debit card. The customer then has the choice of either paying with cash and avoiding the fee or continuing with their original payment method and incurring the extra charge.
Overall, this type of processing can help businesses save money on transaction fees and make it easier for them to manage expenses. Furthermore, cash discounts can provide an incentive for customers to use alternative forms of payment, such as cash or checks, helping to reduce the costs associated with credit and debit cards.
Third-party processors benefit from cash discount processing in one simple way: by only taking the cost of a credit card transaction when it actually occurs. There are no setup fees or any additional fees for implementing this type of free credit card processing solution. At Xccept, our cash discount processing provides a free processing option to businesses tired of paying multiple fees for each transaction and expensive monthly processing bills.
How Does Xccept’s Cash Discount Program Work?
At Xccept, we offer free credit card processing that allows businesses to pass the cost of processing onto customers who choose to pay with credit cards. With our free cash discount program, businesses can eliminate all unexpected credit card service fees, reducing their costs for each transaction and allowing them to save money. It’s a great option for businesses looking to track payments and manage their finances more effectively while still providing their own customers with a secure payment option.
Our cash discount processing solution is easy to set up and use, and it’s compatible with all major credit cards. Plus, our free processing option doesn’t require any additional hardware or software — just a simple signup process. With Xccept’s free processing solutions, businesses can begin to see significant savings on expenses and start reaping more of the profits from goods or services sold.
Start Accepting Credit Card Payments for Free
Accepting credit card payments is a great way to add convenience for your customers. It can also help increase sales and make it easier for you to manage payments. Accepting credit cards is a must for any business looking to thrive in today’s digital world. To get started, partner up with Xccept to receive immediate access to free processing options and a straightforward setup process.
If you’re a business owner looking for free credit card processing options to help save on transaction fees and manage costs more effectively, Xccept is the perfect solution. Get started by applying with us today!
