- August 28, 2018 at 8:55 pm #238694
Would credit card fees to merchants be different from a grocery store vs a travel business.August 28, 2018 at 9:00 pm #239650
In most cases, yes. Higher volume businesses that use traditional merchant services companies for credit card processing get fee schedules based on overall volume and industry. So, a large grocery chain will likely have a completely different fee structure than a ten-person travel agency. However, small shops that use an all-in-one provider like Square will pay a flat rate regardless of industry — travel, home decor, fashion, specialty foods. So it depends on the type of processing solution you use — flat-rate or a traditional merchant services provider. With the latter option, your overall sales and industry come into play in your fee structure, too.
Hope this answers your question!