Get a free wireless terminal with built in printer or vx520 non wireless machine, with much better rates than square.
Accept visa at a lower rate.
Merchant Resources called the 1-800 listed on each of the above credit card merchant service and discovered a variety of differences outlined below:
Base Retail Visa/MC rate of 2.75%
Key Entered Rate of 3.5%
Merchants consistently over $10 per sale, have better options at:
Base Retail Visa/MC rate @ 2.2% and 25 cents
Mid qualified rate @ 3.1% and 25 cents
The salesperson did not disclose the non-qualified rate
Lease of terminal for $35 for 48 months or purchase terminal for $699 (FD130 terminal)
$75 yearly fee
$95 Setup fee
No contract until filing-out personal information using a social securitynumber, etc.
Wells Fargo credit card processing was high in fees, equipment cost and processing rates. Each time we called we were quoted different rates.
Bank of America
1.69% Base Retail Visa/MC rate
3.19% Mid-qualified rate
Over 4.35% Non-qualified rate
Terminal cost on a lease of $28.95 per month or purchase for $599
No contract until filing-out personal information using social security number, etc.
Bank of America was transparent regarding their high discount rates.
Merchant Resources offers the following:
1.25% for debit/credit card with no pin
1.65% for base Visa and MasterCard, Discover
No Monthly Fees
FREE Terminal, cellular phone Swiper or POS for restaurant
If a business has a low average ticket, Merchant Resources can provide a transaction fee of 5 cents.
To receive a free no obligation merchant account quote, visit http://www.credit-card-processing.comor call 1-888-895-3129.