Slash Processing Costs Instantly with These Merchant Account Rates
The Breakdown of Merchant Account Fees
To fully grasp the potential savings, it's crucial to understand the different components of merchant account fees:
1. **Interchange Fees**: These are set by credit card networks like Visa and MasterCard and are non-negotiable. They typically range from 1.5% to 3.5% per transaction1.
2. **Assessment Fees**: Charged by the credit card associations, these fees are usually a small percentage of the transaction amount. For instance, Visa's assessment fee is around 0.13%2.
3. **Processor Markup**: This is the negotiable part of your fees, where the processor adds their profit margin. This is where you can find significant savings by comparing different providers.