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Merchant Fees Set To Increase in 2022

Merchant Fees Set To Increase in 2022

Credit Card Payment Processing Statistics:

Nearly 1 in every 3 consumer purchases in the United States is made with a payment card—including credit, debit, and prepaid cards.
The convenience of using credit cards generally increases the likelihood of consumer "impulse purchases," which ultimately contributes to an increase in a business's average sale. Customers are more likely to make these purchases if they have access to credit or their available bank account funds.

Visa and Mastercard will reportedly be increasing merchant fees for credit card transactions in the spring of 2022

Fee Changes Example:

For a traditional Visa card, the fee on a $100 transaction would climb to $1.99 from $1.90. For premium Visa cards, the fee would increase to $2.60 from $2.50.  taking yet a larger bite out of business owners' profits.

To offset or completely eliminate these fees many business owners have chosen to move to the cash discount program that is available to U.S. Business owners. The program basically reverses the transaction fees to the cardholder instead of being paid by the merchant. This allows the business owner to retain 100 percent of their sale amount rather than giving up a third to the processing company.

If you would like more information on how this program works please visit us on the web EzPay America https://ezpayyamerica.com. or call us (865) 316-9625

Safe From "Germs" Payment Processing

Safe From "Germs" Payment Processing

The onset of COVID has tought us that we can no longer do business as usual. As a nation, we have become hyper aware of the germs that reside on literally everything we touch. This includes payment processing terminals. Fortunately, with great strides being made in "no touch" technology there is a light at the end of the tunnel. 

The EzPay America Cash Discount Program

Why Your Business Needs The EzPay America Cash Discount Program