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The Best Credit Card Processing For Small Business

by xjasonhox
21 replies
Hello fellow warriors,
I was just wondering which service provide do you guys use to process credit card orders from customers! What are the rates and fees? And is there any possible way to further reduce the rates?! Thanks so much for reading and for your time.
#business #card #credit #processing #small
  • Profile picture of the author thelazyone
    You can try Clickbank if you're starting.
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  • Profile picture of the author xjasonhox
    Hmm, to clarify, I am running a company with revenues in the millions and I've always just taken business checks. A lot of my customers come in person to will call their products, and my trucks delivers the rest. So I'm not in Ecommerce at this moment.

    And in regards to clickbank, what are the rates on that? I can't seem to locate the rates on their website
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    • Profile picture of the author serryjw
      Jason, with millions in biz I would recommend to work with one of the largest, FIRST DATA
      Don't be penny wise and a pond foolish. EMV is coming because of the MILLIONS stolen from Target & others...When you talk to merchant processors, make sure they are committed to the 2016 deadline
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  • Profile picture of the author midolyon
    Clickbank is to sell digital products, i don't think this is the solution you are looking for.
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  • Profile picture of the author yakim1
    You could use PayPal to take credit cards. You can look up the fees at PayPal. With a PayPal Pro account you can use their virtual terminal and their triangle, which is a card reader to swipe the credit cards.

    As you bring in more money and go through underwriting reviews, your rate will continue to go down.

    If you PM me, I can put you in contact with my personal PayPal representative and he will be able to help you get your account set up properly and help you avoid the usual PayPal problems that can occur.

    Best regards,
    Steve
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  • Profile picture of the author SoonSlim
    www.asecurecart.net - if you need a shopping cart - $14-ish a month -
    PayPal for the processor.

    Can't go wrong with this combo, been using it for years. . . .
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    • Profile picture of the author xjasonhox
      they don't have a % fee at all for ASecureCart Shopping Cart A secure, PCI Compliant shopping cart. ? Just a one time fee for all further processing?
      And my credit card companies are charging around 3%, which i personally feel like is pretty high- forgoing 30 grand if I sell 1 million in revenues

      I have emailed 2C0 asking for their rates though! Thanks everyone!
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    • Profile picture of the author xjasonhox
      I personally found something https://breadcrumb.groupon.com/payments from groupon which takes 1.8 % inperson card swipes and 2.3% when inputted.. they seem like a pretty credible and reliable company and they are the lowest i've seen.. 2CO's rates are 2.9% and 30 cents a transaction. Do they offer better rates if I contact a sales personnel
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  • Profile picture of the author NK
    You can also use 2CheckOut, it works for both digital and physical products. Their fees varies with volume so you could contact them and ask about it.
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    • Profile picture of the author TopLinks
      Originally Posted by NK View Post

      You can also use 2CheckOut, it works for both digital and physical products. Their fees varies with volume so you could contact them and ask about it.
      Was about to post this until I read about the sales volume.
      http://help.2checkout.com/contact_sales is the URL to contact them about sales volume.

      2CO has worked well for us in the past, so I vouch for them.

      Have you contacted your bank or credit card provider?
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  • Profile picture of the author sagittarius
    Originally Posted by xjasonhox View Post

    Hello fellow warriors,
    I was just wondering which service provide do you guys use to process credit card orders from customers! What are the rates and fees? And is there any possible way to further reduce the rates?! Thanks so much for reading and for your time.
    Paypal is a good choice. Used by several websites and the merchant fees are reasonable.
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    • Profile picture of the author mattbau43
      One size does not fit all. Some companies have better rates for customers with high dollar per swipe and some offer better deals for those companies who swipe small amounts often.

      I would be happy to look over your current statement and provide you a different option and can also help you with depositing your checks.

      I guarantee that I will save you money on your statement or will write you a $100 check.

      PM me if you have interest.
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  • Profile picture of the author vishwa
    PayPal is no doubt a best option for you and it is used by worldwide. However you can try worldpay or authorize.net
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  • Profile picture of the author MikeFriedman
    Do not use PayPal. For this kind of volume you are going to pay a fortune.

    As someone above said, First Data is the first place I would look. Largest merchant services provider in the world.

    Second place I would look is what options my bank offers.
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  • Profile picture of the author LuckyIMer
    PayPal because its the world’s most widely used payment acquirer.
    And the cool thing is payments are instant
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  • Profile picture of the author bigandy1
    2CheckOut, it works great for alot of products
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  • Profile picture of the author LABEShops
    With that sort of volume, you can probably get the best rates by going to your bank where your business account is. They should be able to set you up with everything you need at a fraction of the fees most of the others have suggested.
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  • Profile picture of the author TomVa
    I just got me a merchants account from authorized NET aka merchant warehouse great support.
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  • Profile picture of the author Deji
    I suggest you talk to your bank. They can offer you credit card processing facilities. My bank offered me 2 options since I have a business account with them. One option was for the credit card terminal while the second option was for a card reader which works with an app installed on your phone. I went with the card reader option as it was much cheaper. All the best!
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  • Profile picture of the author tj
    Your bank will be one of the better options - they have (after you) the best overview and if you got problems you will have their service on an personal level instead of the non-personal version via phone or email.

    Timo
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    • Profile picture of the author JacobABurt
      [DELETED]
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      • Profile picture of the author harrydog
        Hi Jason
        with turnover in the millions you should first talk to your bank about a merchant services account. I would have thought with that kind of turnover they would be falling over themselves to provide you with a solution.

        Paypal is expensive and as we have found to our cost can freeze your account at any time and hold onto large sums of money for no reason (the reason they gave us that it was for possible refunds, we had been using them for a long time and our refund rate was less than 1%!!) We had to close the account and wait 6 months for the money.

        We now have a merchant account with Wirecard and we have had no problems whatsoever.

        Cheers
        Mark
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