Credit Card Processing Merchant Services
How to select your credit card merchant account
The real cost of a credit card merchant account is the total amount that you spend for credit card processing, not merely the discount rate that is quoted.
There are “low rate” plans but they tack on extra fees that drive up your actual costs.
Low-rate plans charge:
- set-up fees
- statement fees
- transaction fees
- access fees
- customer service fees
- “batch header” fees
…and so many others that it’s difficult to have a clear picture of what you are being charged.
Worse, after signing you find out that the quoted rate isn’t the one you are being charged, but you are trapped in a two-year contract. Just ask your business friends!
A better alternative is the low cost and sustainable merchant account for small business.
- NO application fees
- NO statement fees
- NO monthly minimums
- NO annual fees
- NO cancellation fees
What sets our credit card merchant services partner apart from others? They offer NAMASTA members the lowest rates in the industry. The rate is as low as 1.35% for debit card payments – and you may know how debit cards are a fast growing way for people to pay with plastic. And there are no hidden fees. Our preferred merchant processing program is also the only provider that cares about wellness and sustainability. For instance, the web servers they use are using solar energy only. They donate 10% of their profits to charities. More info on opening a credit card merchant account
Avoid long-term contracts
Credit card processors typically enter you into long-term contracts.
They come in 2 forms:
- a 3-5 year lease for the expensive equipment plus hefty monthly fees of $40-$60 a month
- a service contract with higher fees, automatically renewed every year. There is a small window to cancel, but a big penalty if you miss it.
A merchant account with no long term commitment that you can cancel at any time with no penalty. Call for free advice on opening a credit card merchant account