Merchant Services’ credit card processing can be confusing. Credit-card-processing.com clarifies Square Reader, Costco, Chase Paymentech and Wells Fargo processing fees, percentages and terminal costs.DALLAS, TX – Merchant Resources compares its credit card merchant services to those of Square Reader, Wells Fargo Merchant Services, Chase Merchant Services and Costco Merchant Services.
After Merchant Resources called the 1-800 listed on each of these merchant services, a variety of differences and costs of each of these credit card merchant services were discovered. The compilation is below:
Square Reader
• Base Retail Visa/MC rate of 2.75%
• Key Entered Rate of 3.5%
The square reader is a good solution for merchants that are seasonal, since “SquareUp” does not have any monthly fees. However, for any merchant who is consistently over $100 in Visa/MasterCard volume per month, there are better options.
Wells Fargo
• Base Retail Visa/MC rate @ 2.2% and 25 cents
• Mid qualified rate @ 3.1% and 25 cents
• The salesperson did not disclose the non-qualified rate
• Lease of terminal for $35 for 48 months or purchase terminal for $699 (FD130 terminal)
• $75 yearly fee
• $95 Setup fee
• No contract “until” filling-out personal information using a social security number, etc.
Costco
• Base Retail Visa/MC rate of 1.38% and 19 cents
• Rewards Cards Visa/MC rate of 1.99% and 19 cents
• Business Cards Visa/MC rate of 2.65% and 29 cents
• Foreign and Government Cards Visa/MC 3.55% and 29 cents
• Lease of terminal for $30 a month for 2 years or purchase terminal for $489
• Need to be an executive Costco member, so you need to pay $110 a year
Chase Paymentech
• Base Retail Visa/MC rate of 1.99% and 25 cents
• Mid qualified rate of 2.68% and 25 cents
• Non qualified rate of 3.76% and 25 cents
• $100 fee to get setup
• $25 monthly minimum
• Monthly fee of $9.95
• Free terminal with a 2 year contract
Merchant Resources offers the following:
• 1.25% for debit/credit card with no pin
• 1.65% for base Visa and MasterCard, Discover
• No Monthly Fees
• FREE Terminal, Swiper for your cellular phone, or POS for restaurant
Merchant Resources offers custom quotes to fit your particular business.
To receive a free no-obligation merchant account quote, visit http://www.credit-card-processing.com or call 1-888-895-3129
Media Contact
Company Name: Merchant Resources
Contact Person: Jim Johnston
Email: Send Email
Phone: 1-888-895-3129
Country: United States
Website: http://www.credit-card-processing.com
Source: www.abnewswire.com
