What are the pricing models for payment processors?
An example of an AI chatbot conversation about payment processor pricing models.
What are the pricing models for payment processors?
Payment processors typically use several pricing models, including flat-rate, tiered, and interchange-plus. Would you like details on each?
Yes, please explain the flat-rate model.
In a flat-rate model, you pay a fixed percentage of each transaction, regardless of the card type. This is simple and predictable.
What about the tiered pricing model?
Tiered pricing divides transactions into different categories, each with its own rate. It can be more complex but may save money for certain transactions.
Which model is best for small businesses?
For small businesses, the flat-rate model is often best due to its simplicity and predictability in costs.
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