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Types of credit card processing fees
By: Jack Chevalier, Mon Sep 11th, 2006
There are a variety of fees you may encounter when setting up a
credit card merchant account.According to
www.websitemarketingplan.com, If a potential merchant account /
credit card provider does not mention one or more of the
following credit card processing fees:
Application fee: - A charge to process your application for a
credit card merchant account. Yearly membership: - Additional,
annual credit card processing fees may be required to accept
credit cards for certain specialized industries such as casino
accounts.
Set-up fee: - A fee or fees charged to process and activate your
merchant account and/or gain access to a secure Payment Gateway.
Gateway access fees: - A fee for using the secure server (such
as Authorize.net) to approve and process transactions. Depending
upon arrangements with the payment gateway processor, your
credit card merchant account may include gateway processing fees
as a separate line item or include it as part of a general
monthly processing fee.
Monthly statement charges: - Some institutions charge fees to
generate and process a monthly statement.
Discount rate: -A credit card processing fee charged to process
each transaction, based on a percentage of the transaction's
dollar amount. The rate is based on risk associated with the
transaction and will likely be different for each type of credit
card transaction you process. An online transaction processing
fees rate, for example, is generally higher than in-person
retail discount rates because the associated risks are higher.
Address Verification Service (AVS): -A separate processing
service that cross-checks your customers' credit card number
with the mailing address. The small per-transaction credit card
processing fee is sometimes included in the discount rate.
Fixed transaction fees (charged in addition to discount rate).
Flat fees you pay for every credit card transaction processed.
For more information on
credit card processing,please visit http://www.paynetsystems.com<
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