Are you ready to find the right credit card processor for your business? Great! You will probably want to gather
information from a variety of sources including:
Most likely, your bank has an arrangement with a process. If they’re a large bank, they may offer a bundled package of
merchant services including credit card processing.
You can quickly look up both local and national credit card processors by doing a quick internet search. You can even
check out their reviews on sites like Yelp.
Other Business Owners – Fellow business owners are usually more than willing to share their experience with their own
credit card processor. It’ worth the time to ask around to get a good referral or two.
Pricing for credit card processing can be confusing. Pricing structures differ widely which makes it challenging to
compare quotes. With that said, there are three ways that rates are typically quoted:
This is the most straightforward form of pricing because you can clearly assess total fees that include interchange,
assessments, and processor markup. Most businesses prefer this options because it is the most transparent.
TIP: Interchange plus was once only available to big businesses. However, because of competition, it’s now available to
small businesses by some providers. It’s typically a business’s most cost effective pricing option.