Lower Credit Card Processing Fees
by MarlinMan, Window Shopper
- Created: April 14, 2014, 3:01 am
- Updated: January 8, 2015, 10:22 am
I'm a small business owner. I sell fishing equipment with sales at approximately $700,000 per year. Much like other businesses, I accept credit cards as a form of payment; this accounts for approximately 65% of my overall sales. With respect to the company I am currently with, I will not disclose their name. However, I see qualified charges of 1.85%, mid qualified charges at 2.65% and non qualified charges at 3.45%. Most of my transactions are either qualified or mid qualified according to the statement but I really don't know why I am charged these rates. I would like to get a few quotes to compare my fees. Does anyone know/understand these fees? A friend of mine referred me to a site www.paydemand.com Has anyone used this site or has heard of them? I just don't want to go thru a time consuming process to get bids. Thanks, MarlinMan
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