Have you ever looked at your credit card processing bill and thought, “All of these fees are taking all my profits?” You’re not alone. For many businesses, accepting credit cards can be the largest cost, but it’s becoming one that is impossible to avoid. Customers want to be able to pay by credit card, debit card, Apple Pay, Android Pay, and more. Gone are the days that everyone has cash for most transactions. Accepting many types of payments usually comes with accepting many types of fees. Monthly fees, transaction fees, card not present fees, and accepting American Express all add up for a business and make your bill very confusing. You can get reeled in by a merchant service provider promoting a low rate only to pay far more when you see your bill at the end of the month. FlatRatePay 2.69% doesn’t have any of these fees. See how your business can save money on payment processing with FlatRatePay 2.69%.
1. Monthly Fees
Many merchant service providers offer a low rate up front and then charge you monthly for their service. These monthly fees can often be as high as what you would pay for several hundred transactions worth of processing. This bill can really hurt seasonal businesses and pop up shops.
2. Transaction Fees
This is where on your bill you see a + and some cents after each transaction on your bill. These can really hurt if your average transaction is under $20. These fees on their own can be over half of what you are billed on each transaction. These fees are why you often see bakeries and donut shops with signs saying something along the lines of “$5 minimum purchase on credit card transactions.”
3. Card Not Present Fees
You see this fee pop up every time you have to type in a credit card number. This might be because you’re taking an order by phone, online, or the card just won’t swipe. This can really hurt restaurants or stores that take phone orders. Many merchant service providers charge you more for these transactions because they are less secure transactions than using the card’s chip or even swiping.
4. American Express
This is one of the biggest complaints for merchants. Have you ever looked at your bill and seen just how much American Express alone costs you? Accepting American Express and other cards that offer large rewards often cost your business far more than the average Visa or Discover card.
FlatRatePay 2.69% doesn’t have any of these hidden fees. It doesn’t have any hidden fees at all. To calculate how much you can save with FlatRatePay 2.69%, take your credit and debit card processing for a month and multiply it by .0269. Now subtract that from what your bill was. This is how much you would save on your bill at the end of the month. You can sign up today or contact us for more information about how FlatRatePay can help your business.