Here's a little quiz that will expose how much you know...
or DON'T know...
about how misleading card processing "rates" can be...
You're a small business with an average ticket of $50.00.
Your merchant service provider wants to keep things "simple"...
so they've offered you a flat rate– and YOU get to choose the rate.
Option 1: 1.75% + 15¢/transaction
Option 2: 1.85% + 10¢/transaction
Option 3: 1.95% + 5¢/transaction
So... which do you choose? If you think you'll do a lot of volume, do you choose a lower rate albeit a higher transaction fee? Conversely, if you think you'll have a high number of transactions, do you accept a higher rate to get a lower transaction fee?
Or do you surrender to your confusion, split the difference, and choose Option 2?
(Contact us directly for the answer!!!!)
The reality is that this is NOT how processing REALLY works!
In all actuality, there are THREE entities that get paid when you accept a credit or debit card.
Click each link above to see HOW these entities are compensated when you accept a credit/debit card for payment!
