What is Swipe for Free?
Running a business today is more complex than ever. No matter what type of company you are running, you need to make sure that you are offering your customers as convenient an experience as possible. One of the biggest ways to do this is by accepting credit and debit cards as a form of payment. The downside to this, however, is that the merchant processing fees can get quite expensive.
With most processing companies, the merchant absorbs the costs of these payment fees, which can be 3-7%, or even more, depending on the processing companies involved and the type of cards that are accepted. If you use Swipe for Free, on the other hand, you don’t ever have to pay another dime to the credit card companies. This can save you thousands of dollars per year, while also providing you a more convenient experience everyday!
Saving Processing Fees
There are many costs involved with taking credit or debit card payments, so you may be wondering how it is possible for Swipe for Free to provide this service to you without taking a percentage of each transaction like the other processing companies do. The answer is really quite simple. Rather than charging you a percentage of each sale, we just add on a small 4% charge to each transaction, which is paid by your customers.
When your customers checkout, they will have 4% added to their bill if they want to pay using a credit or debit card. This fee covers all of the costs associated with our service, the credit card companies, and everything else. So, if your customer is buying a product for $100 with a credit card, they will be charged $104. The processing fee is clearly listed on the receipt so there is never any confusion. This way, you get the full $100 for the product or service that you are providing!