Our credit card solutions will allow you to accept payments from your customers quickly, securely, and efficiently. Finical provides a variety of merchant account and credit card processing solutions for your small business. With the free equipment and zero fee program, you can save a lot of money on processing costs.įinical provides innovative credit card security technology (EMV), offering PCI-compliant end-to-end encryption to protect your customer’s credit card data.įinical also offers transparent pricing, no setup costs, 24/7 customer service, and free setup with a product professional.Ĭredit card processing doesn’t have to be overwhelming. You can offer customers the ability to pay with any major credit card.įinical offers free payment equipment with a qualified merchant account.With Finical zero fee credit card processing: You eliminate credit card processing fees and customers have the option to pay by cash or credit. If they pay with a credit card, they pay a slightly higher price, including your processing cost. When the customer pays in cash, they will receive a lower price. Get the Cheapest Credit Card Processing Rates With Zero Fee Credit Card Processing ProgramĪ zero-fee program works by providing your customers with a cash and a credit price. They should provide in-house support, so there should be no need for setup, installation, or support fees. Some hidden fees to be cautious of:Ī reliable credit card processor will be transparent with its fees. Some merchant service providers will tack on additional fees to your credit card processing services. Avoid Processing Companies That Charge Lots of Additional Fees. All three costs are visible and separated on your monthly processing statement. Interchange-plus pricing is divided into charges based on the cost of interchange and assessments and includes an additional markup cost from the processor. The pricing is a fixed percentage based on what the credit card processor, card brand, and issuing banks charge. Re-evaluate your processor’s pricing model to lower your rate.īefore you decide to do business with a credit card processor, ask if they offer flat-rate or interchange-plus pricing to lower your processing rate.įlat-rate pricing is the same monthly rate for any credit card type, so you can see how much you’re paying in processing fees each month. Processors can only control their markup. The type of cards you take: Debit cards carry the lowest fees, while corporate and rewards credit cards have the highest processing fees.Ĭredit card processors don’t control the interchange rate as credit card networks pass these on. Keyed in transactions have processing costs averaging 3.5%. Manually keyed credit cards are typically a phone or online sales where the cardholder is not physically present so the risk of fraud is higher. Swiped cards have processing costs averaging 1.5% to 2.9%. How you take credit card payments: Credit cards swiped through a card reader are lower risk because the cardholder is present at the transaction. The volume of credit cards you process: The more credit cards you process monthly, the lower your transaction rate can be. Your transaction dollar value: If your typical sale is in large dollar amounts, you may pay more in fees. The type of business you have: High-risk businesses usually pay higher rates. The interchange rate charged by the credit card network gets passed along to your credit card processor. What Determines How Much You Pay in Credit Card Processing Fees? With these tips, you’ll be able to understand credit card processing and get the cheapest credit card processing rates for your small business. Small business owners don’t need to be fearful of accepting credit cards. It is easy to overpay for credit card processing if you don’t understand it. Unfortunately, many small businesses are wary of accepting credit cards as the world of payment processing is complex. Credit card payment volume is expected to increase by 33% by 2024. 80% of consumers prefer to pay with credit cards vs. In today’s economy, a business that does not accept credit cards is missing out on a significant source of revenues.
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