The past year has been among the most difficult years ever in existence. A golabal pandemic makes it almost impossible for life to continue as normal. Businesses ablt to remain open are looking for any way to help mitigate their losses.
One way to help save money is through zero fee processing. Zero fee processing allows you to collect the fees from your customers to offset the costs of accepting credit card payments. Read on to learn how zero fee processing can help your company thrive.
How Does Zero-Fee Processing Work?
Zero-fee processing is becoming more common for non-profits and businesses alike. Zero-fee processing models allow you to pass the fees onto your client.
When your customer goes through the checkout process, they will dee an added lie to their final total for fees. The fees include the processing fee. Your customer pays the extra fees, which offset your costs to run the credit cards. Therefore, the credit card payment will exceed the cost of doing business.
Will Clients Accept These Extra Fees?
Many times, clients expect certain fees for using a credit card to conduct business. Many businesses have found creative means to offset addiioanl credit card costs for several years.
Therefore, clients understand that if they do no want to pay for the convenience of using a credit card, they can always pay with cash or a check.
How Does Passing the Processing Fee Help Your Bottom Line?
Depending on how much business your conduct through credit card payments, you may run up a large bill in processing fees. Sometimes, these fees can cost you a few thousand dollards a month.
By passing on the fees to your customers, you are asking them to pay a minimal fee why you maintain those thousands of dollars in your account. The savings can help you offer additional services to your customers for no or little additional fees.
To learn more about zero-fee processing and how you can save money on your credit card processing bill, contact the experts at Tanker Consulting Services at 609.922.0201.