According to one of the merchant service providers, more than 30% of business owners pay high merchant processing charges without being aware of this.
Merchant Processing Survey
Based on the results of 2016 Merchant Processing Survey carried out by a merchant processing provider, it became clear how business owners pay their credit card processing bills and what efforts they make to save money each month.
The survey shows that many merchants are well aware of the fact that variable charges on merchant processing are high. However, either they don’t know how to minimize the costs or they just don’t take measures to save money.
52% of merchants participated in the survey think they are overpaying for merchant processing each month. 32% of participants don’t pay attention to the bills before making a payment or don’t know much about their merchant processing account.
Reliable Credit Card Processing
According to the CEO of this merchant processing company, traditional processing invoices include hidden fees and unclear contract terms. However, business owners should know that transparent merchant processing does exist.
If you’re looking for a reliable and low-cost payment processor, consider turning to emerchantbroker.com. EMB is voted the #1 high risk processor in the United States and has A+ rating with the BBB. EMB is one of Inc 500’s Fastest Growing Companies of 2016 and is rated “A” by Card Payment Options.
The survey found out that some businesses don’t accept credit cards because of merchant processing fees. 36% of survey participants not accepting credit cards mentioned the cards require higher fees and are not convenient for them.
Sometimes, companies claim their contracts with merchant service providers include contract cancellation, ancillary, and interchange fees and other charges that make processing more complex. Thus, it is extremely important for merchants to search for a trustworthy merchant service provider that will provide reliable credit card processing to make their transactions more streamlined.