How to Reduce Processing Fees While Enhancing Employee Satisfaction

In today’s digital economy, the ability to accept credit card payments is essential for businesses to meet customer expectations and enhance transaction convenience. However, credit card processing fees have increased significantly in recent years, leading merchants to face dramatically decreased margins.

Skyrocketing Fees

According to a report by the N PCI (National Payment Card Industry) in 2023, average fees have gone up by about 20% compared to the previous year, mainly due to changes in interchange rates and higher costs from payment processors. Since then, fees have continued to rise. As a result, businesses are facing an increasing burden as they try to stay profitable in a competitive market.

Pay or Risk Losing Business

While the necessity of accepting a wide variety of payment methods, including credit cards, is well established at this point, the rising costs of processing fees have put merchants in a stranglehold, with some businesses choosing to risk turning away customers by reverting to cash or check.

This is a concerning issue facing the average American business, and we aim to help. As businesses face the challenge of rising credit card processing fees, Exectras Payments offers a strong alternative that not only reduces financial pressure but also maintains customer retention and boosts employee morale.

The Exectras Difference

With a meet-or-beat offer on processing fees, merchants can keep their prices competitive without high costs. Moreover, Exectras Payments goes beyond payment solutions by giving merchants, their employees, and their families free access to virtual primary care and prescription drug coverage. This all-in-one approach enables businesses to continue accepting credit cards without financial stress, while supporting the health and well-being of their teams and fostering a stronger, more successful business environment.