14 Sep Credit & Debit Card Processing Fees

There are 3 general classifications of fees charged to businesses when the accept credit and debit cards

1. “Interchange Fees” which are the fees paid to the card issuing banks and are the largest of the fees
2. “Network Assessment Fees” paid to the networks, Visa, MasterCard, Amex, Interac (Canada), Discover, Union Pay and JCB
3. Processor Fees, no quotation marks here because there is no official designation

Only 3 above Processor Fees are negotiable unless you are Walmart or Costco or have similar volume. There are over 100 fees either by name or different fees that can be charged by the Processors and their numerous resellers.