Credit card processing fees can be a major expense for many companies, but switching to cost plus billing can help you save. By reducing payment processing costs, you can improve your company’s bottom line. While the savings may be small, the more transactions you have, the more you can save. Blended rate processing may be the simplest to understand, but it may not be offering you the low credit card processing costs you deserve.
How much does credit card processing cost? That depends on a number of factors, but cost plus billing can often result in significant savings. Sometimes called interchange plus billing, the kind of transaction is taken into consideration. You pay only required interchange fees plus a little more, not a fixed rate. Since the cost of processing is completely transparent, you can see if you’re saving. If you have many low-cost transactions, the savings over your previous blended credit card processing rate can be substantial.
To learn more about the possible advantages for your company of cost plus billing over blended rate processing, visit the PayVisors website. A post there in the Buzz section explains the savings in more details. PayVisors is a business consulting company that helps companies save money on credit card processing and more.