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Merchant Credit Card Fee Guide 2024: How Much Does It Cost to Process Credit Cards?

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trillion in the US in 2022, accepting card payments is no longer a question of whether to, but how to. PCI-compliance fees – Businesses running credit card transactions must be compliant with the Payment Card Industry Data Security Standard (PCI DSS). Or paid for your groceries using hard cash? increase from the previous year.

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Understanding Credit Card Processing Fees for Merchants: How Much Does Processing Credit Cards Cost?

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However, 2020 and 2021 have been exempt from these changes, which are paused until April 2022 , giving merchants some respite from the financial stress of the pandemic. Payments made via e-commerce platforms and through mobile devices can also have different rates. Typically, Visa and Mastercard would adjust these fees twice each year.