Payment processing is the process by which a merchant receives payment from a customer for goods or services. It involves several steps, including authorization, settlement, and funding.
Flat fees are not recommended for payment processing as they can be more expensive in the long run. With a flat fee, the merchant pays the same amount for each transaction regardless of the transaction amount.
This can result in a higher percentage fee for smaller transactions and a lower percentage fee for larger transactions. Instead, merchants should look for payment processors that offer a percentage-based fee, which is calculated as a percentage of the transaction amount.
This ensures that merchants pay a fairer fee that is proportionate to the size of the transaction.
Contact us today to ensure they are not overpaying for payment processing services.
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