In 2006, 7 million U.S. businesses accepted credit cards and paid roughly $30 billion in processing fees, which banks mostly pocketed. Banks are creating new credit card reward programs for their customers, but the catch is merchants are picking up the bill.....
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Wednesday, November 21, 2007
Credit Card Processing Fees Up 117% in Last 5 Years
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The fees vary depending on how you do your credit card processing. There's merchant accounts, 3rd party processing sites, wireless processing... and there can be annual fees, per-transaction fees, as well as base monthly fees. There are lots of different variabilities to consider.
Thanks for the post.
Hey, true story: My mom lives in Fruitland, ID! :)
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