[Question] Credit card markups

[Peter Doveton]

Hi Folks,
What's the formula to apply to include card machine costs (3%) onto a markup please?

[IanF]

I would multiply by 1.031 this will give you slightly more. Just if you compare to cash you do have to pay quite big bank charges when you bank cash.
What I find if customers are paying by credit card they tend to spend more so we don't have different prices for credit card or cash or eft.
We have had zapper installed and find that quicker than the credit card terminal but we have a dial-up terminal.

[Peter Doveton]

Thanks
Waiting on my Yoco machine :-)

[jayday23]

with online payment gateways, its always 2.9% + 30 cents.

[SilverNodashi]

with online payment gateways, its always 2.9% + 30 cents.

No, different payment gateways have different rates.

[Hannes Botha]

You are going to have to add a little more for AMEX...which is closer to 6%.