Are credit card processing fees cutting into your profit margin? Here are some tips to help your business save money.

Every time a customer pays for services or products with a credit card, the merchant has to pay a card processing fee. While the fee can often be negligible on a single transaction, the cost can add up with many purchases. According to payment industry newsletter The Nilson Report, the weighted average processing fees for American Express, Mastercard, Visa, and Discover credit cards were between 2.09 to 2.33 percent in 2017.

When looking for a new payment processor, it’s important not only to find one with the lowest transaction fee, but one that allows your business to bypass the transaction fee. Some payment processors now offer the option to split or pass on the transaction fee to your customer, to save more money for your business.

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