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Credit card fees are a cost of doing business
2 December 2016, by , in Random Thoughts, No comments

Over the years, and even recently, I’ve had clients tell me they want to discourage their members and customers from paying with a credit card, because of the transaction fees (typically between 3% and 5%). While I understand the desire, I think this is short-sighted, because many consumers (and companies!) WANT to pay with credit cards (because of the points they earn, easier bookkeeping, or other reasons). Discouraging one form of payment is akin to discouraging the sale itself.

The simple fact is, credit card fees are a cost of doing business. So either you can raise your prices by 3% to 5% to cover the costs, or you can just “eat” the expense as one more bit of overhead.

But the last thing you want to do is to tell a customer “I can’t let you buy that unless you send me a check.”

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National Association of Life Brokerage Agencies

“Wes was able to come in and offer tangible, relevant advice that made us more productive immediately. I value his understanding of databases but more so, his understanding of how nonprofits work. There was no lost time educating him about how membership organizations are “different.” Wes recommended changes in processes as well as tips and tricks that were easy to implement made an immediate positive impact.”

Mary Pat Paris, Executive Director
International Registration Plan

Mary Pat Paris
International Registration Plan

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Tim Wilson, Executive Director
Western Arts Alliance

Tim Wilson
Western Arts Alliance
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