Small business owners have enough to worry about without getting yourself into the nitty-gritty of credit card dealings. As long as your process works plus you’re able to accept payments from your clients, then you have more important things to worry about.
But credit card processing costs can add up, and understanding exactly where your money is going can help you negotiate much better rates.
- The 4 parties involved (credit card organizations, issuing banks, processors, and transaction gateways)
- The varieties of fees (incidental, flat, and transactional)
- The end-to-end procedure
- Pricing models
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