How Do You Calculate Processing Rates? Processing rates can get out of control if you’re not keeping a close eye on them. But monthly statements can be complex and difficult to read, making it tough for businesses to truly understand what they’re actually paying to...
What is a Merchant Services Provider? A merchant service provider (MSP) offers the hardware, software, and infrastructure that businesses need to accept credit cards, debit cards, and electronic payment transactions. They also store payment information, keep...
What is a Payment Service Provider (PSP)? If you’re reading this right now, there’s a good chance you’re evaluating payment services and payment processing solutions for your business. Understanding key terms in the credit card processing space is crucial, and...
What is a Virtual Terminal? A virtual terminal is a web-based interface that allows merchants to process credit card payments. It’s a way for businesses to accept credit cards without a physical credit card processor, hence the name “virtual.” Virtual terminals...
How Much Does Square Credit Card Processing Cost? Square credit card processing starts at 2.6% + $0.10 per transaction for most businesses. But the exact price you’ll pay to use Square depends on a wide range of factors, including the transaction environment,...
How Do You Avoid Merchant Fees? Whether you’re selling products or services, expenses are simply a natural part of doing business. But the cost of merchant fees can add up quickly—sometimes exceeding 3% or even 4% of your gross sales. Rather than simply accepting...
Payment Processing Industry News & Updates (February 2023) Our team at Merchant Cost Consulting always keeps a close eye on the latest news and updates in the world of payment processing. We want to keep you informed as well, so we summarized the most...
Clearent Rate Increases, Fees, and Updates (2024) Last Updated 1/14/2023 Like many credit card processors, Clearent is constantly making updates and changing its processing fees. Here at Merchant Cost Consulting, we keep track of these changes and publish them so...
How to Lower American Express Merchant Fees American Express processes eight billion transactions per year. If you have a business that accepts Amex credit cards (which you should), then you’re paying a fee each time a customer pays for something using an American...
Card Payment Industry News and Updates The payment processing world is constantly changing. From new technology to government regulations and brand-specific updates, it seems there’s a newsworthy update every day. As a business owner, CFO, ISV, or anyone else tied...
