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Interchange-pricing, another pricing system used by credit card processors, typically incorporates two credit card processing rates from the company: the interchange markup fee and the transaction fee. However, this method of pricing is often expensive and includes many hidden fees. Tiered-pricing allows processors to group interchange fees into these three separate tiers which give a clear statement of all fees. Typically credit card processing companies break down fee levels according to the following with different rates for credit and debit cards: Some businesses do not prefer tiered-pricing as they find it difficult to track different fees. For example, a company may charge more for an airline credit card than for a standard credit card. Used by many credit card processing companies, tiered-pricing defines a price per unit within a range meaning that the credit card processing service will charge different fee levels for each transaction. These important features will most likely only be available on POS which offers advanced functions such as mobile payments and security against fraud. Payment method coverage (ensure your credit card processor accepts all, or most, forms of cards to avoid disappointing your customers) NFC payments (when customers can make a payment by holding up their phone to the reader)ĮMV chips (the global standard for credit and debit payment cards based on chip card technology that improves security)

When comparing the best credit card processing companies, ensure you look for modernized key features such as: Merchants have many options for credit card processing beyond a standard payment terminal that ensures enhanced security and flexible payment. What Are Some Important Features of Credit Card Processing? Find out more about available features, pricing, and fees, choosing the best credit card processing company and more with the most frequently asked questions below.

Most Commonly Asked Questions about Credit Card Processingīusinesses looking for the best credit card processing services with the best credit card processing rates can get started right here with answers to the most commonly asked questions.