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Payment Processor Charges

My payment processor is charging me 2.8% on average and we are processing about $75k-$100k per month. Most of the time it's via Quickbooks invoices so these aren't manually keyed transactions and the transactions are B2B so it's pretty low risk.

The charges seem high for our volume and I am going to shop around, but am curious what others are paying.


| 👁 684 | Posted November 24, 2018 | Share on Facebook | Twitter | Google+

| Modified: November 24, 2018 | Author:


kdot25 1 year ago

Thanks for the feedback. Last month I did $32k in CC processing. Do you have any good alternatives that I should look at outside of square?

amianxious 1 year ago

Thanks, this is helpful. I had no idea I get charged more based on rewards-based credit cards, but it makes sense. Should I expect my processor actually provides that level of detail? My partner has the actual documents from when we signed up, so I will take a look through those and see what I can find. Thank you

nitronomicon 1 year ago

We currently pay 2.59% + $.25 per transaction. We do about $80,000 per month and all transactions are keyed.

kdot25 1 year ago

I pay about 3% on purpose because I give many of my customers the convenience of keeping their card on file. Its expensive but my customers in my business love it because it is a recurring business with weekly/ bi weekly service so I see it as a cost I have to put up with. I use square.

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