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UNDERSTANDING
YOUR MERCHANT RATES AND FEES
Now
that you understand the basics of how a credit card merchant account
works, you can see the role that Instant Commercehas in the processing
of your credit card transactions.
All
banks and merchant providers require "transaction fees"
from you for accepting credit cards. Typically, these fees are broken
down into 3 categories: a discount rate, a transaction fee, and
monthly fees. For the bank's purposes, a transaction is usually
defined as any communication between you and the processing network.
A "credit" transaction is treated the same as a regular
transaction. Settling a batch is usually considered a transaction
as well, as it involves communication with the processing network.
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