Credit Card Processing Services 101 – Money Savings Expert

ys. Merchant account service providers are organizations which offer a service to merchants who accept payments made with credit cards on their sites. Processing services for credit cards charge costs, which then are charged to customers as greater prices. Third-party payment processors (TPPG) to the contrary they provide an alternative method to handle the transactions of credit cards. These gateways don’t charge clients fees but take a percentage of each transaction to earn a commission.

Merchant account providers typically offer various levels of service based on the volume of transactions they deal with every month. If your monthly revenue is lower than $10,000, you could be eligible to get a discounted or no-cost MAP. Third-party payment gateways are usually supplied by bank, credit unions along with other financial institutions. For smaller businesses that make more than 10,000 transactions year, some TPPGs offer an entry-level service. Others offer more advanced services for larger businesses. asp2kzx358.

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