When trading over the internet, merchants will not only have to accept cards from their customers but will also need to provide a secure facility or payment page for them to provide their card details.
The charges for accepting or acquiring the cards online are explained in the Card Types section of the web site. There will also be a charge from a Payment Service Provider (PSP) who provides the secure payment page. Typically, there will be a set-up fee, to run the account and a per transaction fee or click fee that will cover each card transaction that is passed to the merchant’s acquirer and the authorisation response that is passed back to the merchant.
All these pricing elements will need to be taken into consideration when a merchant calculates the cost of accepting online card transactions.
An acquirer will explain the different elements of pricing for the products and services offered when negotiating pricing with a merchant. They can also discuss the range of fraud prevention tools available which could help reduce a merchant’s card acceptance costs.