Remove Compensation Remove Payments Remove Stax
article thumbnail

How are Interchange Fees Calculated?

Stax

Credit and debit cards have become the preferred payment methods for many, and it isn’t hard to see why. This small rectangular piece of plastic enables customers to ditch bulky wads of cash, making payments easier and safer. However, this convenience comes at a cost, mainly for businesses. But there’s more to it.

article thumbnail

Everything You Need To Know about Merchant Processing and How To Choose the Right Solution for Your Needs

Stax

Whether you run a small online store or a major brand, accepting electronic payments is a must for all businesses. According to Onbe, 73% of consumers prefer using digital payments like cards and payment apps. But to seamlessly receive these payments as a merchant, you’ll need merchant processing services.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Credit Card Surcharges: What Are They, and How Do They Work?

Stax

This is good news because it means you won’t have to inflate your base prices to cover payment processing fees. These fees help the business offset the cost of credit card processing fees, which the merchant typically has to pay to the card issuer and payment processor. Learn More What is a Credit Card Surcharge?

article thumbnail

Best Payroll for Small Businesses

Stax

Subscribing to a specialist payroll process not only ensures that you pay employees accurately and on time, but also allows your business to stay compliant with an ever-changing tax code. Businesses should look for ease of use, cost-effectiveness, scalability, compliance, and integration capabilities in potential payroll systems.

article thumbnail

How Much Do Credit Card Companies Charge Merchants?

Stax

Credit card fees, including interchange, assessment, and payment processor fees, impact businesses on a per-transaction or recurring basis. Leveraging technology, monitoring chargebacks, and addressing individual business factors help to reduce credit card fees and improve overall profitability.

article thumbnail

Visa Interchange Rates 2024: What You Need to Know

Stax

If your company accepts credit card payments ( which it should ), chances are, you’re going to be affected by Visa’s interchange rates. Visa is one of the biggest payment networks in the world, with ~4.2B So it’s virtually impossible for a business to not accept Visa cards. cards currently in use.

article thumbnail

10 Ways SMBs Can Maximize Profit

Stax

These are the fees your business pays to process non-cash payments and they can add up fast. One way is by negotiating with the companies that process the payments. When choosing a payment processing solution, look for ones that offer competitive rates and lower fees—or are offering advantageous promotions.