Entrepreneurs can employ several strategies to minimize the impact of transaction fees:
Negotiation: Many payment processors are open to negotiation, especially if your business has a high volume of transactions. Choosing the Right Processor: Conduct a cost-benefit analysis to find the payment processor that offers the best rates for your specific needs. Encouraging Alternative Payment Methods: Promote payment methods with lower fees, such as bank transfers or ACH payments. Bundling Transactions: Some processors offer lower fees for bundled transactions.