Published: 03/28/2011
» Merchant Services
»» Credit Card Processing
Introduction
As ubiquitous as credit cards are, their use is still growing. The exploding world of online commerce is playing a part When Western Union first gave charge cards to their best customers in 1914, no one would have guessed that over $2.56 trillion would be charged in the U.S. alone in 2008., as is the increasing usage of credit cards in business‐to‐ business transactions. While some businesses could not open their doors without a credit card processing service, it is more of a question for others.
The world of merchant services can be confusing, especially for small businesses who have never accepted credit cards before. This BuyerZone Credit Card Processing Buyer's Guide can help. You'll learn:
• how to choose a merchant account provider for your company
• some common bait‐and‐switch tactics to avoid
• what you can expect to pay
• how to negotiate with providers
Once you have all the information you need, use our free request for credit card processing price quotes service to connect with multiple merchant services providers.
Table of contents
Is accepting credit cards worth it?
Types of credit card processors
Qualifying for a merchant account
Pricing for credit card services
Choosing a transaction service
Pricing guidelines
Your rates will change depending your particular business, credit history, and other factors. Here's a rough outline of what you can expect to pay.
|
Card‐present |
Card‐absent |
Discount rate per transaction |
1.5% to 2% |
2.25% to 3% |
Provider fee per transaction |
$0.20‐$0.30 |
$0.30‐$0.50 |
Credit card terminals / software |
$100‐$500 |
$0 to $150 |