In Carol’s latest post on MasterCard Biz she talks about something that many small business owners complain about – processing fees. She shares a few compelling case studies about why these fees aren’t so bad, and can actually be the good news. Carol begins:
It seems like small business owners are willing to spend money on all sorts of business expenses, from the critical to the frivolous. There’s one expenditure, however, that gets pushback, but is an important business investment: merchant processing fees.
These fees are a small percentages of the total sale of a product or service that compensate payment processors for a valuable service: enabling you to get paid quickly and keeping the cash to your business flowing. I always advocate practicing “cash flow yoga” – taking money in quickly and letting it out very slowly, because consistent cash flow is critical for your business success. Using a merchant processor helps you to do that.
You might want to read the rest of Why Merchant Processing Fees Are a Good Investment.