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MERCHANT ACCOUNTS
NO
SETUP OR APPLICATION FEES
for users of our Gateway Service.
Our gateway service is separate from your
merchant account. A merchant account is required
to accept credit cards using our service. If you
currently have a merchant account service you are
all set and can skip this section. If you do not
currently accept credit cards or are looking for
better rates than you are currently paying read
on.
You can apply for a
Merchant Account at the same time you order your
Gateway Service.
Understanding your
merchant provider’s rates and fees
All banks and merchant providers require
"transaction fees" from you for
accepting credit cards. Typically, these fees are
broken down into 3 categories: a discount rate, a
transaction fee, and monthly fees.
Discount Rate
This is the percentage of the total transaction
amount that the bank will usually deduct prior to
transferring your deposit into your bank account.
Typical discount rates range from 2.5% to 5%,
depending on your type of business and other
factors.
Our partner Merchant
Account Service currently offers a rate of 2.25%
on Visa and MasterCard transactions with our
service.
Transaction Fees
This is a flat amount that you pay for each
transaction. Typical transaction fees range from
30 cents to 50 cents per transaction.
Our partner Merchant
Account Service currently charges 30 cents per
transaction.
Monthly Fees
These are fees charged for other account related
services, such as customer service, your monthly
statement, network access fees, and minimum
monthly fees.
Our partner Merchant
Account Service currently charges $10.00 monthly
statement fee and there is a minimum monthly fee
of $25.00.
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