Re:Visa, Mastercard mull increasing fees for processing tran...
by ToFundorNot on Friday February 15, 2019 @10:47PM
(#19176946)
While paperwork is easier with a cc, and the ~1.75% charge that processor's apply is valuable, there are additional risks that follow cc processing.
Fraud. While you may have an individual pay for $10-$500 in goods with counterfeit currency(rare), you'll definitely encounter $10-$5000 purchases with stolen card numbers. This means you not only lose the sale income, but you get charged a fee because there was a filing against you (charge-back).
Depending on your line of business, this can be as high as %0.66.
Fraud. While you may have an individual pay for $10-$500 in goods with counterfeit currency(rare), you'll definitely encounter $10-$5000 purchases with stolen card numbers. This means you not only lose the sale income, but you get charged a fee because there was a filing against you (charge-back).
Depending on your line of business, this can be as high as %0.66.
https://www.ns8.com/en/solutions/case-studies/industry-repor...