Merchants incur various fees for each transaction, including interchange fees, network fees, merchant account provider costs, and card processing fees. The cost of payment is the second greatest challenge for merchants, and the cost per transaction is a key performance indicator for many merchant segments. TAGx’s Payment Orchestration Layers can assist in achieving minimized fees indirectly by improving transaction execution.
TAGx can bring about minimized card scheme fees by eliminating hidden expenses like retry penalties, misuse of authorization, and zero floor fees. Merchants can use TAGx’s real-time ledger to keep track of authorizations. Additionally, they can improve retry logic, preventing misuse of authorization and zero floor fees. TAGx-built automations can also help optimize costs.
TAGx can help avoid downgrades to the Spot and Correct interchange category by identifying potential downgrades and taking corrective action. TAGx can also reduce technical overhead expenditures by helping non-engineers develop future-proof payment flows with minimal coding requirements. Furthermore, merchants can use smart routing and retries to minimize transaction costs.
TAGx can save money by reducing setup fees through a one API integration and eliminate additional fees for automated transaction routing. Ultimately, TAGx optimizes the payment process for scaling businesses.