“For online businesses, credit card processing and credit card processing fees are second nature. The credit card processing fees you pay depend on the pricing model used by your merchant provider. To select the right model for your business and not overpay, it’s important to clearly understand how credit card processing fees work. This guide explains how credit card processors work so you can pick the best solution and fee structure.”
Credit card processing can be expensive, so know your fees up front.
Credit card processing seems like it should be so simple. You ring up a sale, your customer swipes or dips a credit card into the card reader and money is magically transferred from the card to your business bank account. However, the magical part of the process where the money is transferred from your customer to you is an extremely complex process comprising data routing, verification and authorizations, involving multiple players, including card networks, banks and credit card processing companies. Along the way, there are a handful of different credit card processing fees that you could encounter.