Financial Information
Merchant fees for Credit card processing?
Question : Merchant fees for Credit card processing?
What does it cost a business when a person uses a credit card to purchase something (The rate charged). I would like the fees the businesses have to pay for Visa, Mastercard, Discover and American Express.
express merchant processing
Best answer:
Answer by PacificHR S
At my hotel, we pay a monthly fee, + 2.5% on Visa and Mastercard purchases
4.5% on AMEX purchases
and 5% on Discover, and Diners Club purchases
If we didn’t pay the monthly fee, it would be an additional .5% for all of them.
I use Simple Payment Systems. They give you the equipment for free and also free software to accept credit cards online.
The discount Rate is 1.79% and a .25 transaction fee. Example $ 100.00 transaction =$ 2.04 (Cost to business owner) $ 100.00=1.79%+.25=$ 2.04