Discovered a weird trick that actually saved my small business $90 a month on payment processing fees

I run my own grooming shop and was getting killed on those 2.9% plus 30 cent swipe fees, so last month I tried routing all debit card payments through the PIN debit network instead of credit. Turns out my processor offers a flat 8 cent fee for PIN debit that nobody told me about. Has anyone else found random hidden pricing tiers buried in their merchant agreement that actually made a difference?

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kim_patel894d ago

My optometrist office had the same thing happen with their payment system. They were paying 3% on every copay until someone noticed a flat 50 cent fee for HSA card transactions buried in the fine print. Saved them around $60 a month just by switching how they processed those. The weird part was the agreement had it listed under a totally different section called "alternative payment methods" that nobody reads. I checked my own merchant agreement after hearing that and found a similar flat fee for something called "PINless debit" that I never knew existed. Small businesses really do get screwed if you don't dig through every page of those contracts.