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Let’s Talk Rates!

I am sure if you are a savvy business owner then you keep a keen eye on your businesses bottom line. You have your expenses down solid that you know down to the last penny where everything is distributed, but what about your credit card processing rates. If you are like millions of other businesses around the world then, more than likely you have some sort of merchant processing set up whether it is through a traditional gateway or payment aggregator. Whatever the setup there are fees involved. The question is do you know and understand your rates?

Average Credit Card processing rates range between 1.3%-3.5%. The amount depends on the payment network. A payment network is considered Visa, MasterCard, American Express and Discover.

When shopping for personal credit cards the top thing on every consumer list is interest rate. The interest rate will determine your payback over time. This concept is no different for credit card processing. It is important to note that fees are based on various factors:

Interchange fees

Assessment fees

Payment processing fees

Let us break down each one.

Interchange fee

This fee is is what the merchants bank account pays when a customer uses a credit or debit card.

Assessment fee

This is charged on the total of your monthly sales of each credit card brand and is paid to each of the credit cards association. This fee is also known as a swipe fee

Payment processing fees

This is what is paid to the company that collects the credit card payment and sends it to the payment network either through a Physical POS system or payment gateway.

Note, that these fees are used to factor your rates with each merchant account processor.

When shopping around for a merchant service accounts it is always important to ask what fees you as a business will be paying. You can always use a Payment Processing Calculator at as well to help you determine what your rates currently look like. They are effective tools when trying to look at the bigger picture of trying to minimize your costs.

If you are looking for ways to lower your current rates, then give us a call and we can help you navigate your current situation and find ways to help lower what you currently have by offering a free rate comparison.

At 5 Star Processing we believe in keeping things simple and we offer exclusive rates that will beat out most competitors. If you feel you are paying too much for your merchant account processing, then call our team today and let us help you. We are confident we can beat your current rates.