Category: Cost Optimisation
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The Hidden Cost of Premium Cards in B2B Payments
To (Visa) Infinity… and Beyond! Many B2B businesses unknowingly accept Visa Infinite Business cards, which incur higher fees compared to other card types. Originally designed for limited use, these cards are now widespread among SMEs, leading to increased transaction costs for suppliers.
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One Battle After Another: National Minimum Wage, Business Rates & Payments Fees
The Autumn Statement has initiated changes, including rising minimum wages and business rates, impacting retail and hospitality sectors. These factors heighten trading costs and squeeze margins, as payment fees also increase with transaction values. Retail margins have decreased significantly due to these enduring cost pressures, requiring businesses to scrutinize payment processes for optimization.
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If You Don’t Control the Exit, You Don’t Control the Revenue
Subscription models are evolving as banks gain control over payment management, prompted by regulations and customer behaviour. Banking apps are simplifying cancellation processes, increasing the risk for merchants if exits are complicated. As subscription visibility improves, businesses must prioritize transparent exits to maintain customer relationships and manage costs effectively.
