Less Discount Paid Means Less Money for You
The phrase “less discount paid” on a processing statement can be confusing. It actually means the amount that you’ve paid in processing fees already.
The phrase “less discount paid” on a processing statement can be confusing. It actually means the amount that you’ve paid in processing fees already.
So you think that just because you have a small business you can’t get the competitive credit card processing rates that big businesses get? Think again!
If your business has bundled credit card processing fees, your processor is pocketing your fee credits every time you issue a debit or credit card refund. Are you in an industry that regularly accepts returns and issues refunds like clothing and shoe stores, general merchandise retailers, or electronics stores? This affects you.
Are you looking at your credit card processing statement every month while banging your head against the wall trying to figure out how to lower your non-qualified credit card processing fees?
Visa began charging an acquirer processing fee (APF) on July 1, 2009 on all authorizations acquired in the United States. The acquirer processing fee is a flat transaction fee.
Costco may sell some things at wholesale prices, but it’s not merchant accounts.
We get this question a lot here at CardFellow: “What’s the average credit card processing fee for a [insert your business type here] business?” There are easy answers to this question, and then there are the right answers.
Daily and monthly discount refer to when a credit card processor deducts fees from your business checking account for processing your credit card transactions. There’s a big difference between the two, so give careful thought to which method is best for your business.