Remove Banking Remove Customer Support Remove Helcim
article thumbnail

Want the Cheapest Credit Card Processing? Surcharging May Be the Answer

Stax

Interchange rates are a percentage of the transaction value paid by the merchant’s acquiring bank to the cardholder’s issuing bank. The purpose of interchange fees is to compensate the issuing banks for the risks and costs associated with processing and managing credit card transactions.

article thumbnail

Everything You Need To Know about Merchant Processing and How To Choose the Right Solution for Your Needs

Stax

TL;DR Merchant processing ensures that all entities, such as the issuing bank, the acquiring bank, and the card company, work cohesively to facilitate payments between a customer and a business. This account temporarily holds the transaction funds until the bank verifies the payment.