Typically the first question that merchants ask when they contact a merchant service provider to inquire about a merchant account service is regarding there rates and fees. Then they would call another and ask the same question. Perhaps many would also go online and search for the lowest possible merchant account pricing. there might be a definite answer to be found and, if 1 could go through the pricing pages of all individual merchant account providers, the answer could emerge. I have seen adds for 1.59% eCommerce merchant account rates and probably this is the lowest 1 I've encountered. Now, in order to make an informative decision, it is important that you understand exactly what is being offered at the advertised rate.

Generally, when you see a card processing rate that is substantially lower than the rest on the list you will be well advised to read the fine print notes that are likely to accompany the add. In the above example, a 1.59% processing rate will apply to debit card transactions which make up a small percentage of the overall card volume! What you really need to know is what the credit card payment processing rate is. Here the rates will be above 2% and I am yet to see 1 lower than 2.15%. You will need to make sure that your merchant processing provider does provide separate rates for debit and credit cards, in order to take advantage of the lower debit card acceptance cost.

Keep in mind that the payment card processing rate is just 1 component of the processing cost although the most important one. Also be advised that your pricing model may provide for different processing rates for the different types of credit cards. Some types of business-to-business, commercial and rewards credit cards will be processed at substantially higher rates.there are a host of other fees and charges and you will need to be aware what all of them are and make sure that the low card rates are not offset by high charges elsewhere. there are tools available out there to help you estimate the overall cost of credit card processing for business.