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Take a swipe at card fees

You can save money by shopping around for merchant credit card accounts — but be sure you’re making good comparisons
By Phillip M Perry
Published: July 14, 2015
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Your customers love to pay with credit and debit cards. Unfortunately, merchant-account fees can take a hefty slice out of each sales transaction — sometimes to the tune of 3 percent or more — making a costly dent in profits.

But the news isn’t all bad: Merchant accounts are becoming more economical.

“Price compression in the credit card industry has been going on for years,” says Paul A. Rianda, an attorney specializing in the bank card industry. He likens the payment-card marketplace to that of the cellphone industry, where competition brings better deals.
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