Credit Card Processing

Read merchant account price estimates and learn what you can expect to pay

From retailers that simply need to accept credit cards as part of their daily activities, to business services providers that simply want a more convenient way to collect from clients, companies small and large are shopping for credit card providers.

Choosing a merchant account provider is an important decision for any business - but estimating costs can be difficult. There are also many different costs to be aware of. Don't worry! We can help. Here's a look at how much you can really expect to pay for credit card processing, based on what other BuyerZone users have reported.

Buyerzone user average credit card processing costs

Monthly fees ($15.60) - the monthly cost for maintaining an account will vary quite a bit - if you handle a high volume of charges, you may get this fee waived; our users reported an average of a $15.60 fee, including the common "statement charge" fee. In some cases, this is an annual fee.

Discount rate (2.24%) - you pay this percentage of each sale to the provider. Users report rates that vary from 1.69% to 3.5%, and those rates vary according to several factors: the perceived "risk" in your business, the amount of chargebacks you're likely to face, and whether you're handling transactions in person for "card-present" transactions or taking orders over the phone or Internet for "card-absent" or "MOTO" transactions.

Transaction fee ($0.23) - this flat fee per transaction is another nearly-universal charge. Buyers told us of costs that range from $0.17 to $0.30 per transaction. A good estimate of how many transactions you'll see every month will help you get a handle on this cost.

These are the three main types of charges you'll see - but there are plenty of others. It's also fairly common for providers to throw in extras like free terminal or waived signup fees to try to close your business - but the cost per transaction should be the primary factor in your decision."

Example credit card processing costs

Here are some of the prices our buyers have reported getting for their credit card processing needs.

"No monthly fee, no statement fee, no setup fee, no cancellation fee, no contract. Only 1.85% processing plus; .19 transaction fee for retail swiped credit cards and $15 monthly minimum. Free paper for my machine, free setup of my machine. Free customer support. They also set me for my online sales with 1.99% processing plus $.25 transaction fee and $25 monthly minimum as well as software with Authorize.net for only $10 a month and no setup fees with them either! And free checkout software and free support!"

- Retailer, Bedford, Virginia

"$5.50 Month Fee, Visa and M/C fees: 0.17 plus 1.69% of transaction for swiped card."

- Retailer, Roundup, Montana

"Dial up service, 3.75%, no contract, no min., $5.50 statement fee, 2 swipe plates, paper supplies."

- Automotive Services, Saint Petersburg, Florida

- "Your statement fee is $6 per month!
- Your Web Terminal and Gateway fee is $6 per month.
- Your Total Monthly Investment will be $12 per month.
- 2.19% Discount Rate on Visa, MasterCard, Discover and Debit Transactions."

- Equipment Sales, Minneapolis, Minnesota

"$12 per month, 2.19% per transaction, $.25 per transaction, minimum of $15 in transactions per month."

- Lawyer, Pearland, Texas

Information was provided by BuyerZone users. Quotes have been edited for clarity only.