Merchant Account Rates

A simple fact is if you shop for a merchant account by focusing only on rates you will end up paying too much.

For many, the merchant account rates will only amount to a small portion of their overall cost. Don’t exclude a long list of potentially costly factors such as credit card equipment, start-up or termination fees, annual fees, contracts, monthly minimums, statement fees and many other expenses.

Many companies would like you to think when they advertise seemingly low rates that there is no standard rate for merchant accounts. Visa® and MasterCard® each have over 100 different merchant account rate categories based on the type of card, environment in which it is accepted and whether or not all the cardholder information is collected properly and accurately. These categories are then combines by each processor into averaged rates labeled qualified, mid-qualified and non-qualified. The less qualified the transaction, the more you are charged.

Next time you are looking for a merchant account try to focus on the overall expected cost of processing and factor in all potential fees. CCPG guarantees to have the lowest overall costs of processing and we put it in writing here. You can count on our professional staff to educate you on all your options and advise you on how to get the best rates for your specific business.