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...
Why is a Travel Agency Merchant Account Considered High Risk? Billions of dollars in fraud and chargebacks are lost in the travel business consistently. Travel Agency Merchant Account is subsequently viewed as high risk by many banks. Probably the main risk factors include: 1. Tickets Are Expensive: Travel is inherently costly, and normal ticket costs for all types are high. This includes inn bookings as well as tickets for tours, flights, and other travel schedule things. A Travel Agency Merchant Account is generally considered a luxury retailer. Typical retailers sell minimal expense inventory, which puts large numbers of them farther down in the risk classification. Travel is frequently not need-based. Numerous travelers understand that their appointments are beyond what they can bear, so they try to chargeback transactions. This is known as "friendly fraud"; the buyer doesn't mean to defraud the trader; however, countless chargebacks can expand expenses and influe...