Tips To Reduce Your Card Processing Costs

Negotiate Lower Rates: Contact your payment processor and negotiate better transaction rates based on your sales volume and history.
Choose the Right Pricing Model: Opt for the pricing model (e.g., interchange-plus, flat-rate) that best fits your business’s transaction patterns to avoid overpaying.
Minimize Card-Not-Present Transactions: Encourage customers to pay in person when possible, as card-not-present transactions often come with higher fees.
Reduce Chargebacks: Implement strong fraud prevention measures to reduce chargebacks, which can increase processing costs and hurt your bottom line.
Leverage Technology: Use updated, EMV-compliant terminals and software to process transactions more efficiently and at lower costs.
Eliminate Hidden Fees: Review your statements regularly to identify and eliminate unnecessary or hidden fees that could be increasing your costs.
Consider a Cash Discount Program: Offer a discount to customers who pay with cash instead of cards to offset processing fees.
Review Your Processing Needs Regularly: Periodically evaluate your payment processing needs to ensure you’re not paying for services you don’t use.
Shop Around for Processors: Don’t be afraid to compare different processors and switch to one that offers better rates and service.
Seek Professional Analysis: Get a credit card processing savings analysis from experts who can identify cost-saving opportunities specific to your business.