Blog - Page 19 of 21 - FeeFighters

Largest Credit Card Issuers

While many smaller or local banks still issue credit cards, the majority of credit cards are issued by a few very large banks.  That means that the banks below are collecting the majority of interchange payments – it is ultimately these banks that businesses are paying with their credit card processing fees.   Credit Card Issuers Ranked […]

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Reading a Merchant Processing Statement

This article originally appeared on informed-merchant.com, a blog started by one of our founders, Sean, before he started FeeFighters. One of the ways the the processors make their money is by making the fees as difficult to understand as possible. Therefore, it pays to know how to read a processing bill so you can know […]

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Should You Extend Credit to Your Customers

In these tough economic times, many business owners are trying to figure out a way to increase their sales.  Some people have begun to think about extending credit to their customers as a solution.  Many people are holding on to their money—afraid to spend it all at once—while others simply don’t have a large sum […]

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Interchange

Credit card processors don’t get to keep the majority of the money they collect from their customers.  Most of it gets passed along to the banks that issue credit cards (list of largest credit card issuing banks). The amount that is passed on actually varies depending on the traits of each individual transaction.  The rules […]

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Marking Up The “Downgrades”

This article originally appeared on informed-merchant.com, a blog started by one of our founders, Sean, before he started FeeFighters.   One way that processors make extra money is by using a strategy that we call “Marking Up Downgrades”. Most merchants are charged for processing services according to a Three Tier Rate Structure.  Each transaction is put […]

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Average E-Commerce Merchant Account Rate

If you are an ecommerce business and you are paying more than 2.00% + 0.20 per transaction (so $2.20 for a $100 transaction or $0.40 for a $10 transaction) you likely could get a better deal – more info below. There are lots of costs involved in credit card processing.  But the largest is Interchange, […]

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Interchange Plus

This article originally appeared on informed-merchant.com, a blog started by one of our founders, Sean, before he started FeeFighters. Usually the best way to get a good deal on your credit card processing is to negotiate pricing on an “interchange plus” basis. “Interchange Plus” is not a very common form of billing.  More commonly, merchant […]

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Informed Merchant Blog

The initial idea for FeeFighters was mine (Sean) based on my frustration in shopping for credit card processing for another business that I owned. To deal with my frustration, my first step was not initially to start FeeFighters. First I learned as much as I could about credit card processing, so I could get a […]

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Tiered Pricing for Merchant Accounts

The most common pricing scheme for small business merchant accounts (credit card processing accounts) is called Tiered Pricing.  Visa and Mastercard’s pricing rules, called Interchange, are very complicated.  The price of each transaction is calculated based on several factors, including 1. the kind of card used 2. the kind of business the card was used at […]

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