Payment Processing Fees and how to Avoid | Shift Credit Card Processing

How Do I Avoid Payment Processing Fees?

There seems to be fees for everything now-a-days, and when it comes to credit card processing, it doesn’t appear to be any different. In an all too familiar scenario, you know that taking credit cards as a form of payment will boost your bottom line. But when you check your end of the month statement from your merchant service provider, you can’t shake the feeling that you’re paying way too much in payment processing fees (hint: you probably are!). 

You think there has to be a better way. 

Credit Card Fees Explained:

The quick version is this: there are several parties involved with credit card processing. 

  • The merchant – that’s you
  • Merchant account – that’s your businesses bank account
  • The card issuer – like Visa
  • The card issuing bank – i.e. Chase
  • The credit card processor – like Shift Processing or Square

When a customer purchases items with a credit card, it has to be processed through all these parties in order for that money to get from their bank account to yours. And for everyone in this process to get paid for their service, we have what’s called a transaction fee. Every swipe has a transaction fee associated with it, usually around 3-4% of the total transaction. So while it doesn’t cost your customer any more money to pay with a card, it does cost the business owner. 

How to Eliminate Credit Card Processing Fees

Transaction fees cut into your bottom line, but they  don’t have to.  While there is a cost per swipe set by the card brand, most of the cost you incur is set by the processing company and banks. The transaction fees and other costs of credit card processing is on you, the business owner. 

But here at Shift, we can offer you a way to eliminate your credit card processing fees. Instead, you can shift the cost of the credit card fees onto the customer. If a customer wants to pay with a credit card instead of cash, they pay the additional transaction fees. If they don’t want to pay with a credit card, then they get a cash discount. It’s really that simple.

This is how we at Shift Processing serve our clients. 

But not only do we offer Zero-Fee Processing, we also don’t have any long term contracts or any other fees that you might get stuck with month after month. If you’re ready to eliminate your credit card processing fees, reach out to us today! We’d be happy to help you keep more of your hard earned money.

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