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Offline payment systems and online payment systems refer to different methods of conducting transactions, and they have distinct characteristics. Here are the key differences between these two types of payment systems:

What's the future of debit payments? Learn how merchants are navigating card fees and what the surge of faster payment types means for businesses and consumers.

What's the future of debit payments? Learn how merchants are navigating card fees and what the surge of faster payment types means for businesses and consumers.

Confused about payment processing fees? 🤔 Discover why Interchange Plus Pricing is your best bet! Unlike tiered or flat-rate models, it’s transparent, cost-effective, and ensures you only pay a small markup over the actual card cost. Visit our recent blog for all the details: https://lnkd.in/gRjmTPUA #paymentprocessing #lucidpayments #savemoney

What is Dual Pricing in Payment Gateways & Why Use It in 2024? A dual pricing payment gateway allows businesses to offer different prices based on payment methods, such as cash or card. This system helps merchants offset processing fees and gives customers the flexibility to choose their preferred payment method while being transparent about associated costs. https://bit.ly/3Zsi1MW

Failed payments cost subscription businesses 9% of their annual revenue on average, according to PYMNTS. 💸 To combat this, you should be looking to the data that each transaction gives you. 📊 If you’re NOT incorporating data into your dunning strategy, you’re costing yourself time and hurting your revenue recovery. 🤕 My advice? 🧠 Find a dunning tool that helps you make use of your data so you can deploy a winning retry campaign. Better yet, deploy a Smart Dunning solution like the one offered by sticky.io to automate the process and help you recover up to 75% of your declined transactions and up to 51% more revenue on your first attempts! #Subscriptions #Ecommerce #Payments #DeclineRecovery #Dunning

What's the future of debit payments? Learn how merchants are navigating card fees and what the surge of faster payment types means for businesses and consumers.

Visit: https://lnkd.in/eJUX7AZE One of the most confusing types of statements you will encounter is a surcharge statement. When surcharging, a fee is added at the register for all credit transactions. Debit cards do not have an added fee. A true surcharge program will have the customer paying the credit fees, while the merchant absorbs the debit cost. Separate from the surcharge itself, the merchant will be paying additional processing fees. The merchant will have a flat rate cost on all credit transactions, and a different rate for debit. Usually the credit rate will be 3%; the debit rate is approximately 1.25%. The debit transactions will often have a $0.25 per-item fee attached to it as well. On a statement, this can tend to look like a two-tiered pricing statement. The statement breaks down the credit card processing costs, the debit costs, and usually lists the fees collected from the customer to offset the credit rates.  Our team knows how to compare surcharging statements to any pricing structure you want to pitch to the merchant. We can also convert any pricing structure into a surcharge pricing structure. This allows merchants to see what can be saved on a compliant surcharge program!

Embracing modern payment solutions is a strategic move for future growth and success. Payment modernization is so essential for businesses to help the continuous improvement around customer experiences, operational efficiency, and security which all contribute to attracting and retaining customers, streamlines operations and offers valuable data insights. #PaymentInnovation #BusinessGrowth #CustomerExperience #paymentmodernisation #SythesispaymentsCOE