Some people shop the internet for credit card rates. This is scary to me! The rate structures of card processing is like balancing a scale, with not just two buckets to compare, but about a hundred. There are so many different rates for different types of cards and it is just plain difficult, to say the least, to compare tiered pricing, to cost plus pricing, to cost plus pricing with bill back, to flat rate pricing, to flat rate pricing except for… and so on… and so on.
It is just way too complicated for merchants to actually compare. And then you have to be careful of maintenance fees, annual fees, extra weird-name fees, and of course, the, “We have no contract, but in the fine print you get charged $1,000 if you switch within three years,” hidden in fine print fee. So in the end, don’t forget about the value of local service and support. That could be worth far more than a difference of a few dollars in a rate comparison. That is our favorite part of our day! Hearing from our clients and helping solve a concern is the feeling good stuff that lets us know we are making a difference in someone’s business success.