Merchant Resources, www.credit-card-processing.com, compares its credit card merchant services to those of Costco Merchant Services, Intuit Quickbooks, Square Reader, Wells Fargo Merchant Services, and Bank of America Merchant Services.
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:
Intuit Quickbooks Payments
Swiper rate @ 2.4% and 25 cents
Non-swipe rate/reward cards @ 3.4% and 25 cents and is $10 a month
Intuit quickbooks payments does not sell terminals. Intuit Quickbooks only sells swipers for the ipad or iphone. Their rates compare to the Square Reader. The rates are high and you also pay the 25 cents on top of the rate.
Square Reader Swiper
Base Retail Visa/MC rate of 2.75%
Key Entered Rate of 3.5%
The square reader is a good solution for merchants that are seasonal, since SquareUp does not have any monthly fees. Merchants consistently over $10 per sale in Visa/MasterCard volume per month, 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 security number, 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.