How to Compare Credit Card Processing Companies

Did you know that there are four different rates to consider when selecting a merchant account provider? The first important rate to consider is the discount rate. This is the rate that is applied to each sale or transaction that you make when you process a credit card or debit card transaction.

Usually the rate is between 1.69% and 2.39% depending on the type of business you have the risk that is involved. Some very volatile markets such as gambling and adult websites can pay up to 6% or higher. Basically if you process $100 per transaction and your discount rate is 1.79% you would pay $1.79 per transaction that you process. This does not include the transaction fee which will be discussed next.

The transaction fee is like a service fee for transferring the transaction over the bank's network. Usually the charge is $.25 but $3.0 and $.50 are also common charges as well. So if you process several transactions per month you may want to find a very low transaction rate.

The next fee that is usally charged is a monthly minimum. This is a fee that is charged should you not meet your minimum requirements. Some companies charge a monthly minimum of $15.00. This means if you process only $13.50 worth of transaction fees you are charged an extra $1.50 to meet the monthly minimum of $15.00. This is kind of like a monthly guarantee to the credit card processor that you will pay that amount at least per month.

The fourth most common fee is the monthly gateway fee. This only applied to internet merchants who process transactions through a website. This fee is most common to cost $15.00 to $25.00 and is charge don top of the discount rate, transaction fees, and monthly minimum requirements.

If you have a monthly minimum of $15.00 and a gateway fee of $15.00 you will pay at least $30.00 per month to process transactions. If you are an internet merchant you will know right away that processing credit card transactions online is a crucial part of business, so finding a merchant account provider that meets your specific needs is critical.

Below is a list of the credit card processing companies and their rates.

Merchant Account Providers	Rates and Fees	Recommendation
Click Here to Apply With GotMerchant	Discount Rate 1.69% Retail Discount Rate 2.19% Internet .25¢ per transaction No Monthly Minimum No Gateway Fee	Good choice for merchants with good credit. Fast and easy approval and lowest rates in the industry. No mnthly fees such as gateway charges or monthly minimums.
Complete Merchant Solutions	Discount Rate 1.68% for Retail Discount Rate 2.25% Internet .25¢ per transaction	Complete Merchant Services has a broad range of digital terminals and internet processing products. They also offer wireless credit card processing. They are strongly recommended by Merchant Globe
Click Here to Apply With Charge.com	Discount Rate 1.85% Retail Discount Rate 2.25% Internet .25¢ per transaction $10.00 Statement Fee $16.95 Gateway fee	Charge.com is an industry leader and has been in business since 1995. Well respected by major corporations such as Apple. A good choice for large businesses and corporations.
Click Here to Apply With PayPal	Discount Rate 2.90% Internet .50¢ per transaction No Monthly Minimum No Gateway Fee	The perfect choice for international merchants situated in Canada or the UK as well as several other countries. No monthly fees and very flexible with multiple currencies.
Click Here to Apply With MultiCards	Discount Rate 4.95% Internet .45¢ per transaction $49.00 Annual Fee No Gateway Fee	This is for those who can't get a paypal account or who prefer a european company to process transactions.