2011 credit card processing rates
If you do your homework and make a savvy decision, you can save thousands of dollars each year by choosing competitive credit card processing rates. While it may seem trivial to shop for the best credit card processing rates on the market, this is just one more way for a business owner to skim extra costs off of monthly expenditures.
Affordable Credit Card Processing Rates from Top Providers
Chase Paymentech: Chase Paymentech offers credit card processing for businesses with either monthly service fees or charges per transaction. Initially, it may be difficult to choose from the many features that Chase offers in their merchant accounts, yet this provider will also give you the flexibility to customize your account to best meet your needs.
Chase’s exact pricing depends upon the size of a business and the specific services that are needed. Credit card processing rates range from $.18-$.24 per transaction, making Chase a competitive choice amongst other providers. On their official website, they also advertise a free analysis and no startup costs to open a merchant account.
PayLeap: PayLeap offers credit card processing and merchant accounts for businesses at competitive prices. One bonus is that they clearly advertise all of their fees and merchant account packages on their official website so that you don’t have to chat or call directly to get a price quote.
The basic plan requires a $29 startup fee, a $29 monthly fee, and charges $.25 per transaction. They also advertise no annual fees, no monthly minimums, and no monthly gateway fee. Based on what Payleap advertises to be the “industry standard”, their rates are much less expensive compared to the $20 monthly minimum and $99.99 startup fee charged by other providers.
Flagship Merchant Services: Flagship Merchant Services advertises on their official website that they were voted the #1 Merchant Account Provider. They offer free merchant account startup, free gateway setup, free reprogramming, and a guarantee for the lowest rates in an overall credit card processing package.
Costs average out to $9.00 a month for the gateway fee, $.21 per credit card transaction, $.24 per card not present transaction, and a $20 monthly minimum on all accounts.
Merchant Commerce: Merchant Commerce offers free startup and afree credit card machine, estimating that they save businesses roughly $300 from the start. Merchant Commerce charges $1.05% for retail/swipe rates ranging up to 1.79% for Internet processing rates. They offer a 98% credit card acceptance rate at roughly $.15 per transaction.
As with any important purchasing decision, it’s recommended to compare credit card processing and credit card machine prices to ensure your business is getting the best deal before deciding to buy. By simply filling out this short form, you’ll quickly hear from up to 4 providers and you will be on your way to saving money for your company.
Prices paid for 2011 credit card processing rates
The terminal is free, there is a $20/lease fee for the wireless terminal, the rates are good. I can accept credit/debit and the difference in price from keying and swiping is minimal.
- Buyer from Retail Industry, Berkshire, New York
I paid $350.00. FD50 terminal. Service contract was acceptable with a good buyout for early termination fee.
- Buyer from Business Services, Oroville, California
The terminal was free. The monthly service fee is $15 and transaction fees are 1.9%.
- Buyer from Transportation, Manistee, Michigan
What others are looking for...
I own and operate a daycare center with a capacity to hold 45 children and am looking for rates for credit card machines to process payments.
- Business Services, Jacksonville, FL
My husband and I are starting a new carpet cleaning business. We are new to credit card machines, so please email as much information as possible. We are looking for info on pin pads and check processing equipment,rates, all fees, how it works, what you need from us,etc. Thank you
- Carpet Cleaning Services, Fontana, CA
New retail business offering natural pet foods, grooming etc. Would like a pin pad and scanner as an integrated unit. Looking for processing rates as well.
- Retail, Cypress, TX
We host events from rock concerts to corporate events. We have portable bars where we sell drinks and snacks at the events. Right now they are cash only - would like info on machines and rates.
- Business Services, New York, NY
We are a medical practice looking for rates. We do want a separate pin pad as well.
- Healthcare Industry, Little Rock, AR
We have a convenience store and need a terminal for debit, credit and ebt food and cash. Need fraud protection and seperate pin pad. Looking for pricing info.
- Business Services, Decatur, GA
We sell anything that would be found in a hardware store. We want just the credit and no debit, fraud control, and no small print when it comes to the rate on what we will be charged to use it.
- Retail, Owensboro, KY
We are an airline Service looking for low rates, we work with big name companies.
- Airline Services, Miami, FL