Mantis

Ever wonder what a mantis is praying for? The female is probably thinking of her next meal, but I bet the male is praying it isn't him!

Each side of a relationship can have a different perspective and this is true in both business and nature. As a consumer, I think of credit cards in terms of annual percentage rate and any associated fees.  With over $250 billion dollars in credit card spending  per year, just in the United States, the ability to process credit card transactions can have a powerful effect on a business’s success or failure.  

Just as the costs of owning a credit card will vary greatly for consumers, the cost of card processing services will differ for individual businesses.  Several factors can influence the cost.  One is due to variance in charges by different processing services.  Another is credit reliability.  Just as consumers with lower credit scores or no credit history may pay higher interest and/or fees, new businesses or those with previous credit difficulties will likely pay more for a card processing service.  The type of business may also pay a role in the cost.  Businesses considered at high risk, including travel services and gambling may also pay more for the service.  A website merchant may also see different charges than a physical shop or restaurant owner.

For consumers and businesses alike, it pays to shop around.