The cost of online mobile payments processing can vary widely depending on the type of payment processor you use, how much risk it carries, and other factors. To get an accurate idea of what your costs will be, you should speak to a payment processor directly. However, there are some general guidelines when it comes to fees associated with mobile payments processing.
Most payment processors will charge a flat fee per transaction, usually ranging from 2-5% of the sale price. There may also be additional fees for features such as recurring billing or fraud protection. Additionally, there can be setup fees associated with setting up your mobile processor. These are generally one-time only fees and depend on the platform you are using.
Another cost to consider is the payment gateway fee. This will vary depending on the processor, but generally ranges from $0-$50 per month plus a transaction fee that can range from 2-4%. Some processors also charge a per-transaction rate for international payments.
In addition to these costs, there may be other fees to consider, such as chargeback fees or refunds. Many payment processors will also require you to pay for a merchant account in order to use their services. This can add up over time, so it’s important to shop around and find the best deal for your business.
When considering the cost of online mobile payment processing costs, it’s important to factor in all the costs associated with setting up and using the payment processor. This includes any setup fees, monthly fees, transaction fees, gateway fees, fraud protection services and more. By taking the time to compare different options available and understand what each fee covers, you can ensure that you are getting the best deal possible.
