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Deep dive into fees by payment provider.
The Provider-Level Fee Insights page provides merchants with an in-depth analysis of the fees associated with each payment service provider (PSP) used. By examining fees at the provider level, you can uncover valuable insights into the cost structures of their payment processing, enabling informed decisions that optimize expenses.
This page empowers you to analyze and compare fees across different providers effectively. Here’s how to utilize this information:
You can begin by comparing fees across all your payment processors. This includes a breakdown of transaction fees, processing volumes, and other associated costs. Understanding how each provider's fees stack up against one another helps identify the most cost-effective options for the business.
Explore the fees associated with different payment methods for each provider. This detailed view allows merchants to assess which payment methods incur the highest costs and could potentially be renegotiated or optimized for better rates.
Access transaction-level details to review the specific fees charged for individual transactions. This insight helps you identify patterns in fee structures and highlights any discrepancies that may need to be addressed with their providers.
Platform fees are charges incurred that cannot be directly tied to a specific transaction. These include costs such as account updater fees, network tokenization fees, fraud prevention fees, and excess retry charges. Additionally, merchants may encounter other SaaS-related fees, such as monthly or usage-based fees charged by their payment provider. Keeping track of these fees is essential, as you might not even be aware that you are subscribed to a payment service from your processor and these costs will accumulate over time and impact your overall payment processing costs.
You should monitor trends over time to understand how provider fees change. By analyzing historical data, they can spot patterns that may indicate upcoming changes or opportunities for negotiation.
Identify which providers consistently charge higher fees, prompting a review of payment strategies and potential negotiations for better rates.
Assess which payment methods are the most efficient and cost-effective, guiding decisions on which payment options to promote.
Utilize transaction-level analysis to spot any anomalies in fees that could indicate errors or areas for improvement in payment processing.
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