
Originally Posted by
yskippy
I'm not a small business owner, however, alot of people don't understand the fees credit card companies charge for EACH transaction:
"When a business accepts a credit card payment, the processor deducts anywhere from 1 to 5 percent as a fee. The majority of this percentage goes to the card issuing company. Some merchant account providers may add their own percentage to this fee, which is why the base rate is not always consistent. If you have less-than perfect-credit, your merchant account percentage will be closer to the higher range. "
Larger companies, i.e. gocery chains, Wal-mart, Target, can negatiate lower fees, where smaller business owners cannot.
"Now you know, and knowing is half the battle" - GI Joe
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