Your simplified guide to credit card processing fees with Vetsource

by By Asa Pogrelis

5 min read

Running a veterinary practice is complicated — and so are credit card processing fees. That’s why Vetsource created a payments solution built specifically for veterinary practices, featuring:

  • Faster, more efficient checkout
  • Flexible payment options
  • Transparent and lower fees
  • Streamlined end-of-day closing and reports

Let’s take a closer look at the fees and break down how credit card processing works, so you know what to look for when choosing a payments solution for your practice.

What are the different types of fees?

Credit card fees for a transaction are usually a combination of a percentage and a flat rate.

Interchange fees are charged between banks for processing credit and debit card payments. These fees vary based on the card provider and type and are the same no matter who your payment processing provider is.

Card brand fees (also called assessment fees) are fees charged by the credit card networks (like Visa, Mastercard, American Express, or Discover) for processing credit card transactions.

Processing fees are charged by credit card processors for accepting credit card payments, paid by businesses.

Payment processors like Vetsource collect these fees and pass them through to the card and bank.

What are the transaction fees with Vetsource Payment Services?

After your patient’s visit, the client owes your practice the cost of the visit. Let’s say the cost of the visit is $100.

The fees charged for the card swipe:

Interchange fees:
For this example, the bank’s interchange fee is 2% plus a $0.10 transaction fee.

→ You pay: $2.10

Assessment or card brand fees:
For this example, the assessment fee charged by the bank/card brand is .10% + $.02 per transaction.

→ You pay: $0.12

Processing fees:
The processing fees your payment processor takes out to facilitate payment depends on transaction size and volume. For this example, the transaction fee is 0.50% + $0.10 per transaction.

→ You pay: $0.60

Total fees: $2.82

With Vetsource Payment Services, we simplify this into one transaction: You are credited the original transaction amount minus the total fees, in this case $97.18, at the time of payment collection.

How does Payment Services determine processing fees?

Vetsource uses an interchange plus model, or cost-plus model, meaning interchange and card brand fees are passed through at cost and you pay a set processing percentage for each transaction.

This fee structure is the most transparent form of processing pricing and can lead to significant cost savings for your practice.

Discover a payment processing solution you can trust

Understanding credit card processing fees is just one part of choosing a payments solution. Thousands of practices already trust Vetsource with their online pharmacies and prescription management — now you can rely on us for streamlined payment processing.

From dedicated support that’s there when you need it to the flexible payment options clients want, see how Vetsource can help your business.

Asa Pogrelis

Asa Pogrelis

Asa Pogrelis has more than 25 years of animal health industry experience, including veterinary sales, marketing, and commercial strategy. Asa received his BS in animal science from the University of Georgia and began his career working as a vet tech, before joining Hill's for over seven years. He's been with Vetsource for over 15 years and currently serves as general manager of the veterinary division.

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