Credit cards: How can small businesses cut down on merchant fees for transactions?
4 weeks ago

Credit cards: How can small businesses cut down on merchant fees for transactions?

Live Mint  

Using a credit card is considered convenient, but not a free service. Apart from annual fees, joining fees, etc., credit cards also include merchant fees, which are fees charged to businesses. Minimum limit: Always try to set a purchase limit on credit card sales to avoid paying higher merchant fees. Factors affecting merchant fees Type of business: Some businesses will have higher merchant fees due to the risks involved in transactions. Average transaction value: Average transaction value is a key performance indicator that can be used to evaluate a company's sales operations, while average monthly sales volume is a metric that can be used to evaluate a merchant's risk Transaction methods: Payment methods affect merchant fees due to the risk factor involved.

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Understanding credit card fees and hidden charges: Everything you should know to avoid financial traps
4 weeks ago

Understanding credit card fees and hidden charges: Everything you should know to avoid financial traps

Live Mint  

Credit cards are part of present-day life because they provide convenience and flexibility to manage funds. Types of credit card charges Credit card fees are different for each type of issuer and also depends on features offered. Membership and annual maintenance fees: Many credit cards require a sign-up fee after an application gets approved. Cash advance fees: Many credit cards …

China pushes Visa and Mastercard to slash down card transaction fees
6 months ago

China pushes Visa and Mastercard to slash down card transaction fees

Hindustan Times  

China is pushing for Visa Inc. and Mastercard Inc. to lower their bank card transaction fees in the country, a person familiar with the matter said, as part of an effort to facilitate payments for foreign visitors. The Payment & Clearing Association of China is negotiating with global card issuers including Visa and Mastercard on lowering fees local merchants charged …

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