-
Surcharges vs. Cash Discounts, Convenience Fees and Service Fees
The costs of goods, supplies and labor are rising for business owners of all types and sizes. Passing a portion of card acceptance costs to customers for purchases helps businesses create savings without raising prices overall.
Ursula Librizzi
READ MORE
-
Credit Card Surcharging: A Guide
The costs of running a business continue to rise, from the soaring costs of goods and services to higher employee wages, straining margins. So it’s no wonder that business owners face tough decisions: raise prices across the board or absorb the extra costs. Fortunately, when it comes to controlling the rising costs of accepting credit cards, there’s a solution that helps merchants offset transaction fees. It's called credit card surcharging, and it’s gaining momentum. In a 2022 survey by PYMNTS.com, about 80% of cardholders reported paying a surcharge.
PayJunction Team
READ MORE
-
What is a Payment Gateway? Definition, Benefits, Features & More
Accepting payments has become increasingly complex due in part to the rapid growth of online and mobile experiences, the popularity of digital wallets and an increase in recurring or subscription services. Powering all the interaction points throughout a transaction’s lifecycle requires an expanding array of technologies and networks to securely connect point-of-sale (POS) systems, websites, payment processors, bank accounts and card brands. A crucial part of the equation is the Payment Gateway. You may have casually heard the term and are wondering “What is a Payment Gateway?” or “How is it different from a Payment Processor?” This article answers those questions and takes a deeper dive into important features and benefits to help you decide what type of payment gateway is best for your business.
PayJunction Team
READ MORE
-
How To Manage the Cost of Payments When Interchange Rates Increase
The four card brands—American Express, Discover, Mastercard and Visa—assess Interchange fees on card payments to compensate the card-issuing banks for processing transactions. Fees are typically reviewed and adjusted once or twice a year, in April and October. In 2020, due to the COVID-19 pandemic, the card brands suspended most practices so as not to further burden businesses hit with closures, labor, supply chain issues and other challenges.
PayJunction Team
READ MORE
-
EMV Chip Card Readers: A Complete Guide
Go ahead, open your wallet. Chances are that your credit and debit cards feature a square “chip” on the front that gets inserted into an EMV Card Reader to make a payment. It may also have a symbol that resembles a “signal” that is “tapped” on an EMV Card Reader to make a payment. And it likely still has a magnetic strip on the back that is swiped through a payment terminal that is not equipped to read EMV chip cards.
Ursula Librizzi
READ MORE
-
4 Ways to Increase Customer Trust With Your E-commerce Checkout Process
Your e-commerce checkout is the climax of your marketing, advertising, and acquisition efforts. A good checkout process secures your sales at the most crucial point, so it must inspire customer trust and confidence.
Jake Rheude
READ MORE