Fattmerchant’s Top 5 Credit Card Processing Tips

5 things to know before choosing a payment processor

Just starting out with your small business? You might think you can’t get great credit card processing rates, but that’s where you’re wrong. By following these simple tips, you’ll be able to secure credit card processing rates that make the big businesses jealous.

#1: Contracts: Just Say No!


No one likes to be stuck in a contract, from cell phone contracts to credit card processing contracts. Contracts are NOT mandatory, especially contracts with cancellation fees. Most processors will actually waive that fee if you tell them no, so don’t be afraid to speak up. If you can, find a company that doesn’t offer contracts.

#2: Find Cheap (or Free) Terminals and Avoid Leases

Credit cards and EMV terminals are cheaper than you think. A good terminal can cost around $250 these days, so don’t try and lease one if you have the money to buy one up front. If your processing company offers to include one in a contract, always make sure to read the fine print to see how much they’re charging you for it. It’s usually better to buy one yourself and get a cheaper rate. Also, look for companies, like fattmerchant, that offer free terminals with some of their plans.

#3 Choose Interchange, Not Tiered!

 If you’ve had a business before, than you’re probably used to tiered pricing. It’s expensive and unneeded with its surcharges, so stay away from it at all costs. Instead, go for interchange pricing. Interchange results in lowers costs, and doesn’t include any surcharges. The big businesses have it, so why shouldn’t you?

#4 Always Know Where Your Money Goes

Before you start looking for a good credit card processing rate, you need to do your research. Learn where your money goes by looking up interchange and assessment fees. Interchange, like we mentioned earlier, is the best way to go when choosing pricing. They are a fixed credit card processing expense, and they’re the same for all processors. Here are the Mastercard and Visa interchange fees, for example.

Assessments are also a series of rates and fees charged by Visa and MasterCard, and they are the same across the board.

#5 Never Think Small!

Just because you’re a small business doesn’t mean processing companies can treat you like one. Credit card processing rates are the same for all businesses, big or small, so don’t let them make you feel insignificant as a small business starting out. The bigger you think, the smaller your rates.

So do you agree with our 5 tips? Many of them apply to how fattmerchant works, with no contracts, surcharges, and free terminals for our Stacks and Grand Plans. If you’re interested in joining fattmerchant, just visit our main site to learn more.

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