Author: Phillip Parker

Calculate the average cost of credit card fees to simplify the credit card acceptance process. The average cost method looks at all the fees included in your merchant service fees combined. These fees also include different rate tiers, situations in which each rate tier applies, and assessing the percentage of sales in each tier. Don’t want to pay the fees? Estimates say that businesses that do not accept credit cards lose half of previous sales.

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When you refuse to accept credit cards you will basically stop customers from buying items that they might have bought otherwise. Without having the cash in hand, most people will assume that they have more money than they actually do. Most people will not carry around a large amount of cash or even have a large amount in their bank account so they would rather use a credit to put off having the reality of paying for something.

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