What costs are associated with accepting credit cards?

The primary costs associated with credit cards are the discount fee charged by the credit card processing company and the up-front cost of purchasing the equipment. The fee varies, among other things, on the type of card accepted and the method used to enter the transaction. Generally, swiping a card that is presented by the customer yields the lowest cost. On the other hand, accepting credit cards over the phone yields a higher rate due to the increased possibility of credit card fraud.

Created: Mar 09, 2004 - 9:5am Updated: Aug 07, 2009 - 5:10am Author: Web Technologies Article: 1055
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