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This article explores practical strategies to help businesses lower their credit card payment processingcosts, offering insights to enhance financial efficiency. Begin by understanding your current rates, including interchange fees , assessment fees, and markups. These fees typically range from 1.5%
Adopting a cash discount program where posted prices have the credit card processing fee built-in, and those paying by cash receive a discount. This approach helps simplify merchants’ coststructures and can be advantageous if customers are comfortable with the pricing strategy.
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