Transaction Fees

Transaction fees are costs that are charged to a merchant’s account when services are used to authorise transactions. A business must be in possession of a merchant account, allowing you to accept credit cards and process online transactions. Transaction fees may apply to the merchant’s account provider, payment service provider and the consumer’s bank.

There are many ways a merchant account can be charged by a merchant account provider for processing credit card transactions. Per transaction is measured every time a credit card transaction has been accepted. Set schedule costs are when the merchant account’s transaction fees are not measured per transaction, but instead has a set price that is paid at a scheduled time and date, such as annually or monthly fees. Aside from these options, some accounts will only charge sporadically when a certain criteria is achieved. Payment gateway fees may vary but also can be charged using per-transaction, fixed or sporadic costs. Some merchant accounts can include a payment service provider.

When a transaction is processing, the interchange fees, which are the fees from the merchant’s account to the consumer’s account, vary depending on the merchant’s system of credit card process

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