Rates
Getting the lowest credit card processing rates doesn't mean you have to sacrifice great service. At PayProTec, you'll find the best rates and the best level of service. Whether you need credit card processing for card-present transactions, card-not-present transactions or both, you'll find everything you need at PayProTec.
Find out what your credit card processing rate is today:
Discount Rates for CARD PRESENT accounts (face to face)
| Qualified Card is swiped and card holders information is electronically transmitted to the bank. |
1.79% |
| Per Transaction | 0.25 |
| Monthly Account Maintenance (Covers 24/7 technical support and deposits of merchants funds.) |
$10 |
| Monthly Minimum Fee (If your total monthly fees do not equal $25 the bank bills you for the shortage to make up to $25.) |
$25 |
Discount Rates for CARD-NOT-PRESENT accounts (telephone/internet/mail)
| Qualified Card holders account information is key entered (Mail, Phone or Internet orders) with the card holders address (first 5 numbers) and zip code. * Address Verification |
2.49% |
| Per Transaction | 0.22 |
| Monthly Account Maintenance (Covers 24/7 technical support and deposits of merchants funds.) |
$10 |
| Monthly Minimum Fee (If your total monthly fees do not equal $25 the bank bills you for the shortage to make up to $25.) |
$25 |
* Address Verification - There is an additional 5 cent charge per transaction for address verification. Transactions which do not meet address verification requirements or where address verification is not attempted will be subject to a 1.49% surcharge.
Understanding the Fees for Credit Card Processing
Every business, small or large, needs to consider the bottom line. Accepting credit card payments can add a huge boost to your business, but it also means additional expenses. Before you take on those expenses, it's important to understand all of the fees for credit card processing and the meaning of each of those fees.
The Discount Rate
When it comes to credit card processing, the discount rate isn't actually a discount. It's the percentage of every credit card transaction that you pay to the merchant account provider every time you process a credit card payment. Therefore, it is probably the most important fee for you to know and understand. If you want to save more money for your business, you want this percentage to be the lowest it can be.
Card-Present vs. Card-Not-Present
That percentage will, of course, vary from one merchant account provider to the other, but it is also varies depending on what kind of merchant account you need. If you are processing all of your credit card payments in person and swiping the actual card with a credit card terminal, the discount rate will be lower. If you need a card-not-present merchant account, the discount rate tends to be higher because most merchant account providers consider those transactions to be a higher risk. That rate can go even higher if you don't use the proper forms of verification for each credit card payment.
Other Common Fees
There are other credit card processing fees you need to keep in mind. Another fee that's charged each time you process a credit card is the per transaction fee which is charged as a flat rate instead of a percentage. In addition, you will usually be expected to pay a monthly account maintenance fee and a monthly minimum fee if you don't exceed the minimum for that month.
Credit card processing is a must for every business that wants to increase sales and make shopping more convenient for its customers. Don't choose a merchant account provider simply because it has the lowest rates; choose a provider that can also offer you the highest quality service. For the best of both worlds, contact North American Bancard today for your new merchant account.