A bank account allows businesses to accept payments by credit or debit card. The account is set up through a payment processing company, an intermediary between the bank and the business. It is a pricing model used by payment processors in which rates are based on the total monthly sales volume processed through the account. This model offers the business the opportunity to negotiate what rate...
source https://www.bngpayments.net/blog/tiered-pricing-merchant-accounts-for-credit-cards/
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