Tag: Interchange Fees

Toast POS is one of the most popular point-of-sale systems in the restaurant industry. It’s known for feature-rich and easy-to-use software and a wide variety of hardware options. But while Toast POS is both highly capable and user-friendly, it does have some notable drawbacks, including the cost of payment processing and dependence on proprietary hardware. […]

Choosing a new payment processor is an important task, as payments are at the core of all businesses. But with so many options on the market, it can be hard for merchants to know how to differentiate one processor from another. When requesting a merchant services quote, many business owners will focus on price and […]

A merchant account is a mission-critical piece of the payments puzzle for most full-time business owners doing any kind of significant sales volume. But for new and experienced merchants alike, the process of getting set up with a new account can seem opaque and even difficult. Independent sales organizations (ISO) – sales companies that work […]

Fees matter. In the earliest days of your business, when you were doing low sales volume, and your top priority was just getting to the customer any way you could, you may have put transaction fees low on your list of priorities. After all, what’s a percent here or ten or twenty cents there? But […]

Your ecommerce merchant services provider is one of the easiest factors to overlook when it comes to the success or failure of your ecommerce business. It can be easy to assume that all merchant services providers are the same, but that couldn’t be further from the truth. The processing partner you choose will impact everything […]

Cash payments have fallen out of favor, making up only 12% of transactions in the U.S. in 2020. The global COVID-19 pandemic has driven that down even further as health-conscious consumers have flocked to contactless payments. With card payments now the standard, even the smallest merchants need to find ways to move away from cash […]

Selling to businesses (or governments) is a different proposition than selling to consumers because the value of the average sale is so much higher — often in the tens of thousands and potentially ranging up into the millions. In the B2B world, security is at an even higher premium than normal, and cost management is […]

Toast is one of the leading point-of-sale systems in the world, consistently earning top rankings, particularly in the restaurant industry. There are a number of reasons why so many restaurant owners lean on Toast POS for their dine-in and online ordering operations, including the company’s specialization and the robust set of add-on products that integrate […]

Partnering with the right payment processor can be the difference between a healthy profit and financial struggle for merchants in a wide variety of industries. While the features offered by merchant services companies are important, low transaction fees are understandably the primary concern of most businesses, and an important step in securing the lowest fees […]

One of the most important questions any business should ask themselves when looking for a new merchant account or merchant services provider is “how will this service impact my profitability.” It can be easy to simply write off merchant fees as a cost of doing business – and certainly, they are – but small differences […]

In 2017, a class-action lawsuit was brought against Worldpay Inc. alleging that 200,000 merchants were overcharged with unexpected markups and additional fees. Worldpay settled that lawsuit for $52 million, but it’s recently come to light that, despite the settlement, Worldpay may not have changed the practices that led to that legal trouble in the first […]

A merchant’s profitability is determined largely by the costs of doing business, and one of the most common costs merchants in the digital age run into is the fees associated with processing card payments. Many merchants just assume that all payment processors and all fee structures are alike, but that couldn’t be more untrue. Merchant […]

Credit card transaction processing fees seem simple on the surface, but the overall fees are actually made up of many smaller fees, sometimes numbering in the dozens. In the interest of transparency and regulatory compliance, payment processors break down all of those fees on their merchants’ monthly statements. That’s good for both the processor and […]

Merchants are all painfully aware of the fact they’re charged fees on the card transaction they put through, but many don’t understand what those fees are made up of. While those fees contain a number of different components, the largest portion is made up of the interchange fee. Interchange fees are charged on every single […]