Can we have it so that the consumer pays the credit card fees, instead of the wesbite owner?

Ask the community
, ,
1

Background
This topic answers a question submitted at an Open Studio event. To view a list of all the questions submitted, visit this topic.

Question
Can we have it so that the consumer pays the credit card fees, instead of the wesbite owner?

Answer
A processing fee is a fee charged for transactions processed through payment providers. Credit card processing fees are the costs that merchants pay to process card transactions. These fees cover the operational and technological expenses associated with processing payments, including the transfer of funds between the cardholder’s bank (issuing bank) and the merchant’s bank (acquiring bank). It’s an industry standard that these fees are charged to the merchant. However it’s up to the merchant whether they want to include these costs in the price of their goods or servicies.

2

As part of Open Studio, we create topics to answer submitted questions. To view a list of all the questions submitted in the April 2024 event, visit this topic. Open Studio is an event where we share with you everything we’ve been working on: product updates, new announcements, growth opportunities, and our plans for the future.