3 responses to “Merchant fees for Credit card processing?”

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  PacificHR S November 23rd, 2010 at 00:05

  At my hotel, we pay a monthly fee, + 2.5% on Visa and Mastercard purchases
  4.5% on AMEX purchases

  and 5% on Discover, and Diners Club purchases

  If we didn’t pay the monthly fee, it would be an additional .5% for all of them.

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  lb_centaur November 23rd, 2010 at 00:17

  Varies widely. Here in California, Costco was advertising that they would process credit cards for as low as 1.5%. It mainly depends upon the type of business and your transaction volume. AMEX will charge a few percent more.

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  seafairy2005 November 23rd, 2010 at 00:46

  I use Simple Payment Systems. They give you the equipment for free and also free software to accept credit cards online.
  The discount Rate is 1.79% and a .25 transaction fee. Example $100.00 transaction =$2.04 (Cost to business owner) $100.00=1.79%+.25=$2.04