The various pricing models that processors offer are at the heart of the confusion surrounding one of the most important yet perplexing parts of managing a business: processing payments. Although interchange-plus, flat, and tiered pricing structures all promise savings or ease of use, the truth is much more complex. While...
How to Avoid Bait-and-Switch Pricing in Payment Processing?
For many small businesses, picking a payment processor begins with comparing fees. You’ll frequently come across attractive-sounding offers: “just 1.5 percent per transaction” or “no monthly cost.” These low advertised rates are tempting, but they may not be telling the whole story. In many cases, the providers use bait-and-switch pricing...