Traditional Card Processing
You should be familiar with this method where you pay all of the processing fees for accepting Credit & Debit cards. These fees consist of interchange, which is paid to the Credit Card processors/issuing banks and a markup by the processor to cover their overhead and their profits. We offer a low fixed markup with small transaction fee and a guaranteed rate lock. There are no “hidden” fees garbage fees
Currently you may have a variety of miscellaneous(garbage) fees on your merchant statement making it unclear what rate you are actually paying. Be sure to add all your fees together and divide by the amount processed to determine your true rate. Most business owners believe they are paying far less than they actually are.
Other considerations in selecting a card processor:
- Do they charge an annual fee
- Have I been being charged a PCI compliance fee
- Does my card processor notify me of my annual PCI compliance requirements
- Does my card processor charge an early Termination fee; if so how much is it?
- If looking at a POS, is the vendor processor agnostic or will they require you to process only with them. Not having competition and limits your ability to negotiate a better rate.
- Considering a “free” credit card terminal? Check your rates and get a quote from a 2nd processor as there truly is “no free lunch”. You will likely paying handsomely for your “free” equipment.
- Keep in mind a lease isn’t inherently bad, if you are effectively paying less all in for card processing and equipment combined.
To get the greatest savings potential consider our Cash Discount program. At any point you can still opt to switch back to Traditional processing or to Surcharging. Use my scheduling app to schedule a call to discuss your options.