I’ve been thinking about this question lately. At first, payments seem pretty universal. A transaction is a transaction, right? Not necessarily. Healthcare is a good example. A patient trying to pay a medical bill isn’t thinking about interchange, gateways,...
Health Care
How to read a merchant statement: where every dollar goes
A merchant statement lists what you paid to accept card payments. Your processing costs are made up of three components: interchange fees paid to the card issuing bank, card network assessments charged by Visa and Mastercard, and your processor’s markup. A...