One of the best decisions you can make as a salon or spa owner is taking credit card payments for your business. It’s a convenient way for your clients to pay for products and services rendered. However, with that convenience, salon credit card processing comes at a cost.
The process of payment processing is a bit complicated and can be overwhelming to most small business owners. And navigating the credit card processing options and their costs can be confusing. Almost like you need a Ph.D. in credit card processing!
Before diving head-first into options for salon credit card processing, you’ll first need to understand the fees involved in the process.
To help you make the critical choices that best suit you and your business, we have assembled the following information about salon credit card processing fees.
What are Salon Credit Card Processing Fees
Credit card processing fees, in simplified terms, are the costs that a business owner (in this case, your salon or spa) pays to accept credit card payments.
These processing fees can add up quickly. That’s why it’s essential to understand the various parties involved in determining how much you will ultimately pay for the convenience of payment processing using credit cards.
3 Types of Salon Credit Card Processing Fees
There are three main types of fees involved in the overall process of accepting credit cards: transaction fees, flat fees, and incidental fees:
Fees that you’ll pay for each credit or debit card transaction that you process. These fees include the interchange rate, the assessment fee, and the payment processor markup. More on this later.
These are the fees that you’ll pay, typically monthly, for using the services of a merchant services provider.
These are fees charged by your payment processor or merchant account provider due to instances such as chargebacks.
More to come….for now, check out our great rates