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Are you Paying Too Much?

If you are already processing it certainly doesn’t hurt to ensure you are not being taken advantage of and paying too much for the service. If you are considering your options for your first merchant account then of course it is prudent to do some research and shop around.

As explained in our FAQ there are many fees and charges to consider. The importance and relevance of each is really unique to each individual merchant. However, here are some general guidelines which may help you determine whether the rates you are paying or have been quoted are acceptable.

US/Canada Merchants – Low Risk – Card Present

You are Paying Too Much If:

  • Your qualified discount rate is higher than 1.9%
  • You are paying a transaction fee
  • Your chargeback fee is higher than $10 per chargeback
  • Any reserve is being held back on your account

US/Canada Merchants – Low Risk – Card Not Present

You are Paying Too Much If:

  • Your qualified discount rate is higher than 2.5% and/or your ecommerce discount rate is higher than 3.25%
  • Your transaction fee is higher than 25 cents per transaction
  • Your gateway fee is higher than 10 cents per transaction
  • Your chargeback fee is higher than $30 per chargeback
  • Any reserve is being held back on your account

European Union Merchants – Low Risk – Card Not Present

  • Your discount rate is higher than 3.75%
  • Your transaction fee is higher than 49 cents per transaction
  • Your gateway fee is higher than 10 cents per transaction
  • Your chargeback fee is higher than $40 per chargeback
  • Any reserve is being held back on your account

US/Canada/European Union Merchants – High Risk – Card Not Present

You are Paying Too Much If:

  • Your discount rate is higher than 5.25%
  • Your transaction fee is higher than 59 cents per transaction
  • Your gateway fee is higher than 20 cents per transaction
  • Your chargeback fee is higher than $40 per chargeback
  • You have a reserve rate of higher than 7.5%

Offshore Merchants – High Risk – Card Not Present

You are Paying Too Much If:

  • Your discount rate is higher than 5.75%
  • Your transaction fee is higher than 59 cents per transaction
  • Your gateway fee is higher than 25 cents per transaction
  • Your chargeback fee is higher than $50 per chargeback
  • You have a reserve rate of higher than 10%

Where do You Fit In?

If you think you might be paying too much and are interested in the rates and service we can provide to you, please use our online Quote Request.