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Tag Archive: Rates

April 18, 2019

Where Do My Fees Go?

Many merchants incorrectly believe that all the fees they pay go to their credit card processor. If that were the case, there would probably be a lot more credit card processors out there today! The truth is, your processor keeps a very tiny portion of the transactions. It’s important to have a clear understanding of how those fees work, what they do for you, and how you can avoid additional fees. Here’s how fees are calculated for most merchant accounts. The transaction begins the moment your customer swipes, taps, keys, or inserts their credit or debit card to pay you...Read more


March 13, 2019

Passing on the Cost of Accepting Credit Cards to Customers

We get a lot of questions about whether merchants should pass on credit card processing fees to customers. Is it legal? How much should I charge? Should I charge at all? We wish that there was one single answer that would fit every Chosen Payments merchant. But the truth is, this decision is complicated and merchants must make choices based on their individual businesses. In many cases, passing charges on just doesn’t sit well with customers. If your favorite local grocery store implemented a surcharge for using a credit card, would you continue to shop there? Here are some general...Read more