Best Credit Card Processing For Small Business

Affordable credit card processing

Small business owners looking for the best credit card processing feel like they have an impossible task in front of them.

Sure, you are looking for the lowest cost credit card processing, but when every processor claims to have the lowest credit card processing rates, how do you choose?

The road ahead just looks foggy and unpredictable.

Let's bring this into focus for you.

Low cost credit card processing for small business

Here is the secret for finding the best low cost credit card processing: ask them what is their mark-up over Interchange.

Don't fall for the double-speak and polished sales pitches. Visa, MasterCard, Discover, and American Express all have a standard, set in stone wholesale pricing structure. Every merchant services provider and credit card processor pays the same amount for this wholesale rate (called Interchange).

There are hundreds of wholesale rates that are set by the card brands and the issuing banks. These rates vary depending on the card type being used by your customer. Your credit card processor marks up the wholesale rate on every transaction (which is where they make their profits).

So, when a sales person tells you that they have the lowest rates - they are either lying to you (what a terrible way to start a relationship) or they don't understand their own industry. In either case, you need to run in the other direction.