How Online Merchants Can Pay Less for Payments
Don Davis writes for Internet Retailer about how ecommerce merchants can reduce payments acceptance costs.
"To get the best deal, retailers must be prepared to go shopping among the many processors—or transaction acquirers in payments lingo—vying for their business, and to examine every rate and fee in the contract," says Allen Weinberg of payments consulting firm Glenbrook Partners.
“The guiding principle is that everything is negotiable,” Weinberg says. “But it’s important to keep in mind that every acquirer has a profitability target they feel they must meet. If you win on a couple of points, they will likely try to make it up in another area.”
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