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...
PayPal Merchant Account PayPal is an electronic commerce company that can expedite the payments between business parties through the online transfer transaction mode. PayPal allows the customers to authorize an account on its platform, which is connected to a user’s debit/credit card or business checking account. Once the identification and proof of the transaction of funds are confirmed, users can begin sending or receiving the payments to and fro from another PayPal merchant account online or through the company’s app. PayPal merchant account is a third party payment processing account is also known as a payment gateway service provider (PSP) or a merchant aggregator that allows you to send and receive money over the internet to the online e-commerce businesses. PayPal merchant account is used by a number of international businesses and individuals as their main means for sending payment transaction to the freelancers. The fees associated with the PayPal merchant acc...