We as merchants want to make it very easy for our customers to purchase but trying to figure out the merchant processing rates is crazy. We are getting charged between 2.2% to 4.2% for accepting credit cards. Most banks provide ACH (Automated Clearing House) where funds can be transferred between banks at no charge. We as a company would rather pass the savings on to the customer. The merchant processing rates affects the pricing of our product. We would be willing to give the credit card customer a 1% discount on sales if they use ACH or direct funds transfer instead of using Credit or Debit Cards. It is more convenient than credit cards. Not all banks provide ACH capability, however. Most of our large accounts already do this and it is a very convenient for them and for us.
Let us know your thoughts.
