Fees are deservedly a big pain point, and one of the most crucial points of contention when shopping around for a processor. When you’re checking for the best credit card processing for small business, don’t forget to double check about these fees.
When you process relatively large transactions, the percentage that you’re being charged will end up being the biggest part of your processing bill. When you’re processing tabs that are on the low end, the per-transaction amount starts to pinch. This is why credit card processing companies usually charge in both ways. Be sure that your agreement makes sense for your business, and that your fees aren’t over-reaching what you should be paying.
Moolah works to make this particular part of the decision-making process clear for merchants. While some services offer tiered rate systems that muddy the water and obscure what you’ll actually pay per transaction, Moolah offers a simple, transparent rate of 2.69% + $0.29.
Gateway fees sometimes fall out of the discussion because they can seem apparently removed from the main business that your processor does for you. The Gateway fee is paid by the processor to the payment gateway, which works with the banks to get the money where it’s going. There can be a wide range of approaches to charging for this, such as tiered pricing for different levels of transaction traffic. That’s why, if your processor does charge a gateway fee, you do the math before signing the contract. Be sure to take into account future growth, to get a good estimate of what you’ll pay. It isn’t impossible for some gateway fees to begin to rival the total cost of your transaction processing fees, if you find yourself in a contract that isn’t a good fit for your business.
As for Moolah, our commitment to being the best credit card processing for small business means that we take gateway fees seriously. We partnered with Authorize.Net and worked together with them to offer merchants their powerful services free of the $25 monthly gateway fee you’d have to pay if you signed up for Authorize.Net on your own.
Moolah doesn’t stop there. We also lower the barrier of entry by giving merchants a FREE Poynt terminal, which is one of the best POS systems on the market. Additionally, signing up with Moolah gets you free PCI compliance help, which means you can worry less about the safety of your business’s transactions. You’ll be better equipped to take your business forward with cheap and easy credit card processing.