Common Merchant Credit Card Fees


    Across industries, such as utility, e-commerce, travel agency, collection agency…it’s no surprise the vast majority of consumers prefer to pay for products and serviceMerchant Credit Card Fees, Credit Card Processing, Merchant Accounts with credit cards. Being such, it is important to educate yourself and your business on the most common credit card fees.

    Determining the exact amount your business pays for the ability to accept and process credit cards can be overwhelming if you do not have a basic understanding of how the process works. Generally speaking, each industry and business will have rates and fees set based on the products and services sold, and the manner in which they sell them. It is always best to consult with a payment processing expert, like Payment Savvy, in order to determine the exact credit card acceptance program that works best for your company.

    Common Merchant Credit Card Fees – The Interchange Fee

    The interchange fee constitutes the majority of credit card processing rates and fees. This fee is typically positioned as a percentage of the transaction amount. Interchange fees can vary and are based on factors such as the credit card type, how the payment is processed, and the merchant SIC Code. Some credit card issuers make their interchange fees publicly available, while others do not.

    Common Merchant Credit Card Fees  – The Assessment Fee

    The assessment fee is significantly smaller than the interchange fee. It is paid directly to the credit card network – such as Visa, MasterCard, Discover, or American Express. These fees are based on numerous factors and also vary from one network to the next. While some networks charge higher rates based on credit or debit card usage, other networks will charge higher rates for larger transaction volumes. Unique transactions are also taken into account. For example, additional fees may apply when a foreign transaction is being processed.

    Common Merchant Credit Card Fees  – Acquiring Bank Fees

    The acquiring bank chosen to provide your business with the ability to accept credit and debits cards will also charge a fee for services rendered. This may be a flat monthly fee or on a per transaction basis. Please keep in mind that if your business is considered high-risk from a payment processing standpoint, you may pay a higher rate than more traditional businesses. Fortunately, there are payment processing specialists, like Payment Savvy, that offer solutions such as high-risk merchant accounts.

    Payment Savvy specializes in provides all types of businesses with the ability to accept credit and debit card payments. Please contact Payment Savvy today to review your options, apply for a high-risk merchant account, and to obtain answers to your questions. We look forward to hearing from you and working with your company.

    If you have enjoyed reading this article and found it informative, please share it with all of your contacts on social media. Payment Savvy greatly appreciates your efforts in this manner. Please stay tuned for more interesting articles.


    As our resident “numbers guy”, Tracy is responsible for Payment Savvy’s financial planning, analysis and projections. With 20 years of accounting experience under his belt with various CPA and high technology firms, we look to him to ensure our fiscal future stays in the black. He is a highly regarded member of our team and we appreciate his hands-on approach and diligent attention to detail.  With Tracy we are able to apply innovative, practical and outcome driven financial strategies to take Payment Savvy to the next level.


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