Understanding Merchant Account Fees: A Comprehensive Guide Introduction Let's face it: merchant accounts can be confusing. There are a lot of different types of fees, and you're not always sure what they'll cost. To make things even more difficult, different providers use different terminology to describe their rates. But as a merchant account provider ourselves, we know how to help our clients navigate these waters. We want to share some of our knowledge with you so that you can learn about merchant account fees—and how to avoid getting caught up in traps that could cost your business big-time money! What are merchant account fees? Merchant account fees are the costs associated with accepting credit cards. They can include interchange, assessment and monthly fees. Interchange: This is the price you pay to your processor for every transaction that goes through their network. It's regulated by Visa, MasterCard and American Express. The fee varies depending on which card...
All you need to know about NMI payment gateway If you're a business owner and you want to accept credit cards, then NMI is the payment gateway for you. NMI was created in 1999 by Interchange Plus Corporation (IPC), which was acquired by MPI in 2004. NMI offers its customers a wide range of services including merchant account management, fraud management tools, and reporting tools that make it easy to get started with accepting credit cards online. NMI is a payment gateway for credit card processing. NMI is a payment gateway for credit card processing. It allows you to accept credit and debit cards, as well as prepaid cards like gift cards, through your website or mobile app. NMI has been around since 2003, and it has changed over time to ensure that it continues to meet the needs of merchants who use its services. The company offers three different plans: Basic ($10/month), Standard ($25/month), and Enterprise ($50/month). Your merchant account ID and merchant transacti...