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rated:
For our new business, we are looking for options to process Credit/Debit Card payments from customers.
Do you have any recommendations.
One of our friends recommended Harbortouch
 

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rated:
There are so many it's hard to count them all.

I would recommend
1) Costco

2) Anyone who will sell you a fixed interest rate. Those 'variable' rates are traps.

rated:
forbin4040 said:   There are so many it's hard to count them all.

I would recommend
1) Costco

2) Anyone who will sell you a fixed interest rate. Those 'variable' rates are traps.

The experts say the exact opposite.

rated:
Really? Variable rates sound good on 'paper' but if your customers use any kind of 'cash back' cards, you end up with 4.5% or higher rates. (Fixed Rate Merchants are 2.5 V/M and 3.5A)

I'm sure the 'experts' see it theoretically as a good thing, but I've seen people who tell me they are saving money even though when you add up their sheets it says 3.9% avg rate and they don't even accept Amex.

Since OP didn't give any information beyond (What's a good CC merchant) Costco is the only one that comes to mind.

rated:
Before you consider any company, it may help to have some concept of range of sales in $$, average sale and estimate of total charge sales volume per month. I do not have any particular processor in mind.

rated:
forbin4040 said:   There are so many it's hard to count them all.

I would recommend
1) Costco

2) Anyone who will sell you a fixed interest rate. Those 'variable' rates are traps.

  What "Interest rate" to process a payment?

Do you just mean processing fees?  Unless you're getting the funds in advance of the payments processing?

rated:
forbin4040 said:   Really? Variable rates sound good on 'paper' but if your customers use any kind of 'cash back' cards, you end up with 4.5% or higher rates. (Fixed Rate Merchants are 2.5 V/M and 3.5A)

I'm sure the 'experts' see it theoretically as a good thing, but I've seen people who tell me they are saving money even though when you add up their sheets it says 3.9% avg rate and they don't even accept Amex.

Since OP didn't give any information beyond (What's a good CC merchant) Costco is the only one that comes to mind.

  It's my understanding that you can get the best overall rates from variable rates, but you need to know how to match your customer mix to the rates. Too many people focus on the discount rates, and ignore the full basket of rates.

You should be able to match you merchant statement history to the rates you pay to see what works best for your business.

rated:
Bend3r said:   
forbin4040 said:   There are so many it's hard to count them all.

I would recommend
1) Costco

2) Anyone who will sell you a fixed interest rate. Those 'variable' rates are traps.

  What "Interest rate" to process a payment?

Do you just mean processing fees?  Unless you're getting the funds in advance of the payments processing?

I call it 'Interest Rate' but it has different names depends on the company you are with.
Credit Card processing has approx 20 fees that are applied to every transaction (Chargeback, gateway, pass through, tiered, monthly, discount, bundled, etc)

But the big one is the Percentage fee (discount fee, interest fee, etc)  If you run $100 on Visa, you will expect $97.50 if you have a (2.5% rate)  But because you get other fees in actuality you get about $95 after all the fun little other fees are charged.

When you go the 'Variable Rate' route, what you don't know until it's way too late is that they break all the fees out separately and you are looking at a two sided sheet of paper with more terms than a 1040 form.   In an average company making $200k a month, I remember seeing no less than 65 separate line items for the variable.  (Wow that's a lot of different cards).  Most people focus that they see 50+ lines of 1.5% or 0.9% but I focus on the items that have the most fees and discovered that certain cashback cards had little nasty 4.9% fees and they are buried around the more innocent 1.5% fees.  And if I remember right, there is no subtotal line where you see total charges, total fees and total remittance.  I had to add them up separate on a calculator and realized that this 'variable' rate is such a scam.

rated:
The term you are probably looking for is "Interchange Plus Pricing."
The Interchange Fee is the fee Visa/MC/Disc/AMEX charges the processor to process the transaction for a particular credit card.
With Interchange Plus pricing, you are charged what the processor is charged, plus a small fee (a fraction of a percent).

In my experience EVERY credit card processor promises that they can SAVE YOU MONEY if you switch to them.. Of course they want your past statements, then cherry pick the data to show you how they can save you $XYZ dollars every month by switching to them. Usually this involves saving you on X but charging you more on Y.

You may want to check with your bank to see who they recommend (partner with) and go from there.

Once you find a processor you can check out their reviews at www.merchantmaverick.com

Also make sure you know what the contract length is. Some require a multi year contract with monthly statement/account fees.

rated:
If your volume is too low for a good deal with a regular merchant account, I'd consider Square or PayPal Here for blended rates of 2.2-3%.

rated:
Interchange plus is good for larger merchants. Smaller ones are better served by a play % kidelm

See if Amex still offers their small merchant account. Was a flat fee, like $10 or 20 per month no % charges.

rated:
scrouds said:   Interchange plus is good for larger merchants. Smaller ones are better served by a play % kidelm

See if Amex still offers their small merchant account. Was a flat fee, like $10 or 20 per month no % charges.

  The smart merchant has two.  One Interchange Plus and one Fixed, and then uses a program to flip between. 
Drives accounting NUTS..haha

rated:
forbin4040 said:   
scrouds said:   Interchange plus is good for larger merchants. Smaller ones are better served by a play % kidelm

See if Amex still offers their small merchant account. Was a flat fee, like $10 or 20 per month no % charges.

  The smart merchant has two.  One Interchange Plus and one Fixed, and then uses a program to flip between. 
Drives accounting NUTS..haha

  You'd have to be able to predict the swipe fee for every card. Sounds easy, but not necessarily.

rated:
I assume you'd do that prediction in the POS software itself. The first 6 digits used to be sufficient to identify the issuing bank and very likely their various brands like Slate vs Freedon Unlimited vs Sapphire Reserve.

rated:
stanolshefski said:   
forbin4040 said:   
scrouds said:   Interchange plus is good for larger merchants. Smaller ones are better served by a play % kidelm

See if Amex still offers their small merchant account. Was a flat fee, like $10 or 20 per month no % charges.

  The smart merchant has two.  One Interchange Plus and one Fixed, and then uses a program to flip between. 
Drives accounting NUTS..haha

  You'd have to be able to predict the swipe fee for every card. Sounds easy, but not necessarily.

  not "you" but an algorithm . 

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