I got a fairly good offer from Chase Paymentech to do my processing (wireless). Can anyone else that uses them advise whether you have seen any PCI compliance fees being charged?
Shopping merchant processors can be difficult. They all advertise a pretty low discount rate between 1.5%-2.5% but that is only about 1/4 the story. Actual rate is typically 2.9%-4.4% since many of your credit card charges will fall into other categories such as mid qualified or non-qualified which have higher rates. For instance, if someone uses a reward card your rate may be 3.5% instead of 2.5% for that transaction. Then you also have to look at monthly fees and per transaction fees. Our website only authorizes customer’s card and does not actually charge their card until we ship. One merchant processor would charge us a higher rate if I did not charge the card within 3 days of our website doing the authorization.
I used them without wireless and they were so much more expensive than another company that I bailed out early on the contract and had to pay fees, but the fees were cheaper than using them for that time.
Replies
Cheers,
Mark
Frame Destination, Inc.