A convenience fee is an amount you add to the purchase price; the customer pays this fee in return for being able to use a more convenient payment method. The important thing to remember is that the customer must always have the choice to use another standard method of payment that does not require the added convenience fee. The fee isn’t technically related to taking credit cards. It is meant to help the merchant recoup the added cost for setting up a new payment channel.
We at Merchant Maverick like Square. It’s a great service that opens up the ability to process credit card payments to many small businesses, and we’ve written a lot of articles about Square’s point of sale, payment processing, inventory, booking, and invoicing features. These articles can be prohibitively in-depth to the uninitiated, however, so you […]
If you’re reading this article, chances are that some of your customers have recently asked whether you accept Apple Pay or Google Pay. Your preliminary research has yielded the terms digital wallet and mobile wallet, but while you may have heard of these forms of payment before, you don’t yet know many of the details. […]
In this article, we’ll dive deeper into the world of ACH payments, showing you where to find payment processors, suggesting ways your business can use ACH payments to save time and money, and discussing what’s a fair price to pay for the service.
We hope you’re reading this article before you’ve been placed on the MATCH list, but if not, we’ll do our best to explain what it is, how it might affect the way you run your business, and whether there’s anything you can do to get yourself off the list. We’ll also look at alternative payment processing methods.
When you accept credit cards as payment, you are always charged a fee for processing. This fee is what we generally mean when we say “credit card merchant fee.” If you want to accept credit card payments, you need to deal with the credit card processing fees that come as part of the package. We’ll show you how fees work, which ones are mandatory, and which ones you can negotiate away or just skip by finding a great processor!
Credit card associations, like Visa, Mastercard, American Express, and Discover, charge fees for their services every time a credit card is used. If you take credit cards, then card association fees are a necessary evil, since these fees comprise a part of wholesale fees you have to pay in order to take credit card payments. Here’s everything small businesses need to know about card brand fees.
Apple Pay, along with other digital wallets, is becoming widely adopted. Apple users are notoriously brand loyal, so once they start to use Apple Pay, they tend to stick to this particular digital wallet. If you don’t yet take digital wallet payments, is it time to provide that convenience to your customers and start taking them?
How To Get A Merchant Account With Bad Credit: Navigating Credit Checks, The 5 Best Processors, & More
If you’ve been turned down for a merchant account because of bad credit, don’t panic. Here’s what you need to know about what role credit scores plan in payment processing, plus the best ways to get a merchant account for your small business.