What is The Cost of Processing Card Payments?

What is the cost of processing card payments?

The global pandemic has changed a number of aspects of how we work and live, including how we purchase and pay for products and services: card payments. As a consumer this might make our life easier; as a business it might mean a new channel to market by selling online, or quicker access to funds without having to bank cheques. But (why is there always a but?) for a business there is also a cost to processing card payments.

Many businesses quickly turned to various merchant services, not necessarily comparing costs or knowing the extent to which their card transactions might grow. Now would be a good time to check the cost to your business and see if there are more cost-effective options out there.

Fee structures can be complicated:

Monthly fees / no monthly fees
Transaction costs for different types of cards
Authorisation fees

We can put you in touch with a consultant who can navigate their way through the complex fee structures and check all this, at no cost to you. They can compare options for a variety of uses:

Desktop wired – for retail outlets
Portable – for restaurants/bars who wish to take payments at tables.
Mobile – for people working offsite at clients’ properties or premises
Online – for ecommerce sales online

Whilst you can’t afford not to offer card payments to your clients, you don’t have to incur excessive costs!