I see this a lot since I am currently looking for a payment gateway for my website and am looking into merchant accounts and don’t fully understand what it is or how it works.
Something along the lines of :
* Per transaction 10¢, daily batch fee 10¢
In: Economics
Credit card processing companies don’t provide their services for free. Every credit transaction comes with a fee, and they are processed in batches which in turn can come with their own fee.
This is why credit companies can afford to provide their credit services for essentially free, not charging a fee for users if they pay off their balance in full every month. The vendors are paying for the service and passing those costs on to the customer.
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