How Organizations Can Take Control of Card Processing Fees
Protecting margins is tough enough without added payment processing costs
As merchants know, accepting credit and debit cards at their business, is not without costs. Protecting their margins in the midst of supply-chain delays, staffing issues and inflation increases is tough enough without the addition of payment processing costs.
The good news is that merchants have options. It’s possible to accept credit cards without taking the hit for credit card fees. Below are some options that can really make a difference:
Dual Pricing Program
With a dual pricing program, a merchant can build credit and debit card fees into their product or service pricing. Then when customers pay with cash, merchants provide them a discount—usually 3-5 percent—that is shown on the receipt. Businesses are required to display signage notifying customers of this pricing model and many times the signage is provided to the merchant.
Please select this link to read the complete article from OSAP member i3 Merchant Solutions.