Credit Card Processing

**kcount** · 01-05-2010, 11:02 AM

Ok, so this isn't related directly to optics but it is Business related. has anyone found a great credit card processing company? someplace that isn't charging an insane amount.

I presently pay 1.64% with a $0.27 authorization fee and $19.95 per-month service fee. Anyone done better?

**Jacqui** · 01-05-2010, 11:20 AM

Have you tried your bank?? Most of them, at least locally, do this for their customers.

**kcount** · 01-05-2010, 11:27 AM

Yes I did, their rates were worse. Turns out they simply resell someone elses service and that providor was still higher. This is simply one of thoose things that drives me crazy. Every month I look at the processing fees and think there has to be a cheaper way to do this.

I'm curious if one got enogh people together if the CC companies would cut a deal.

**Jana Lewis** · 01-05-2010, 11:37 AM

We use Costo's CC services... the cheapest I've found so far.

**rbaker** · 01-05-2010, 02:44 PM

Budget a couple of percent higher for credit card services this year. Rates are going up.

**CME4SPECS** · 01-05-2010, 05:27 PM

Originally Posted by kcount

Ok, so this isn't related directly to optics but it is Business related. has anyone found a great credit card processing company? someplace that isn't charging an insane amount.

I presently pay 1.64% with a $0.27 authorization fee and $19.95 per-month service fee. Anyone done better?

You are probably paying that at the discount rate, the same rate I pay. Most transactions however are in the mid-qualifying rate which is much higher.

**Johns** · 01-05-2010, 09:36 PM

Originally Posted by kcount

Yes I did, their rates were worse. Turns out they simply resell someone elses service and that providor was still higher..

I couldn't agree more! If you are using your bank, you are paying WAY too much.

I'll pm you the information on the company we use for our offices. No smoke and mirror equipment leases, no contracts, no hidden fees.

**Johns** · 01-05-2010, 09:52 PM

I PM'd you the contacts for the person I worked with. The company is called Merchant Warehouse. I might even get a spiff if you decide to use them. I've used them for more than 5 years, and recently switched all my offices over to them.

If anybody else is interested, let me know and I'll get the info to you...

(and no, I do not work for them, nor have any financial interest in them, except for a possible referral fee, but I'd refer them if w/out the prospect of the fee)

No Application Fee
No Setup Fee
No Annual Fee
No Equipment Leases
No Termination fee or Contract

I