How to Compare Merchant Services Costs

how to compare merchant services

If your company accepts credit cards, you’re obviously in need (or already have) a merchant account service or payment processor. Choosing the right one and researching your different options can be a confusing (and boring) task. When it comes down to it, you’re just plain interested in how much more money they’re going to cost you. 

Companies and small business too often just pick one that sounds good (usually with a bank they’re familiar with) and get locked into a stiff contract, rather than doing their homework. We’re here to tell you that searching for a merchant service doesn’t have to be confusing or time-consuming. These are our tips for how to compare merchant services costs quickly and effectively!How_to_Compare_Merchant_Services_Costs

Cost Per Month

You want to save your business money, so choosing a merchant account service is a business decision. The monthly costs of a merchant account is the number one concern on your mind when looking for a payment processor. Make sure you’re getting the services your company needs for an affordable price per month. The following items should be included in your service’s cost per month:

  • Free online reporting
  • 24/7 customer service
  • Free processing equipment
  • Next day funding


You may not realize it now, but getting stuck in a contract is one of the worst ways a payment processing service can hurt your business. Contracts are not mandatory when it comes to credit card processing, and especially not ones with termination fees attached to them. Don’t be afraid to speak up and say “NO” to contracts and, if at the very least, cancellation fees.

Fees, Fees, Fees!

When comparing merchant services costs, you’ll notice various fees associated with their pricing because that’s how they make money! YOU as a business owner should not be paying random and sometimes outrageous fees. Interchange and assessment fees are the same across the board, no matter what credit card processor you choose, so these are necessary and unchangeable. However, the following list of fees some payment processors will try to slap onto your monthly cost, hide inside other charges, or bundle into your contract. Fattmerchant doesn’t make you pay them, so why should you have to with any other merchant service?

  • Statement Fee
  • PCI Compliance Fee
  • IRS Fee
  • Batch Fee
  • Processor Markup
  • Termination Fee
  • Setup Fee
  • Payment Gateway Fee


Credit cards and EMV terminals aren’t expensive. If your processing company offers to include one in your contract, be sure to read any fine print or ask them how much they’re actually charging you for it. Sometimes it’s better to buy one yourself to get a cheaper rate. A good terminal can cost around $250. You can also look for companies that offer free terminals in their plans (like us!). Avoid leasing a terminal if you have the money to buy one.

You don’t have to settle and you don’t have to get locked into a contract with one of the big processing companies. To compare merchant services costs effectively, you must know the ramifications that come with each contract and/or plan. Once you understand exactly how much you’d be paying and especially what you’d be paying for, comparing merchant services costs can be easy! Now that you know what to look for and expect from a good merchant services company, finding the right payment processing service for your business can be simple, straightforward, and painless.

Do you want to get “fatt” savings on your merchant services cost per month? At Fattmerchant, we do things differently in order to save your business major bucks. Contact us today to find out how we can help you save almost 40% on your merchant services bill.


Business Owner's Payment Processing Guide to FATTSavings!

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