How Businesses Can Lower Credit Card Processing Fees

Accepting debit and credit card payments is a necessity for business owners. The payment processor will help business owners process purchases, while the merchant account allows them to accept electronic payments. 

Choose The Best Credit Card Processor

First and foremost, business owners need to choose the best credit card processor. They should not sign on to a payment processor just because they are familiar with them or referred by friends. 

Negotiate Your Credit Card Processing Fees

When you sign up for the product testing program, you will be expected to provide personal information such as your age, gender, and location. You will also be asked what sports and activities you enjoy so that Adidas can better target product testing opportunities for you. 

It isn’t easy to negotiate credit card processing fees. With so many things involved, it can be tricky to understand the fees and if they’re negotiable.  

Keep Chargeback Rate Low

Business owners can also lower their credit card processing fees by keeping the chargeback rate low. If business owners want to maintain a good account relationship with processors, they must keep the chargeback percentage below one percent.  

For example, use an online shopping cart on your website to accept credit card payments. It will eliminate the need for an order form and help cut paper costs, printing fees, postage, and other factors that can add up over time. 

Utilize Technology

A payment gateway serves as an intermediary between a merchant account and card brands like MasterCard, Visa, Discover, and American Express. It routes transaction information to each brand for approval before transferring funds from your bank account or processing through a credit line. 

Use The Right Payment Gateway

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