Guest Blog: 10 Pricing Questions to Ask a Potential Payment Processor

Thanks to Bob Angus from PayPal for sharing this great Top 10 list of questions to ask a potential payment processor. Read it, copy it, use it and avoid hidden fees! 
 

10 Pricing Questions to Ask a Potential Payment Processor

  1. What are the rates, or additional fees that will be charged when I accept the following cards? Corporate, Business, Signature, Rewards, etc.
  2. What are the rates, or additional fees that will be charged when I key enter a credit card, or accept a credit card online?
  3. What is your gateway fee and your authorization fee? Do you charge additional gateway fees and/or authorization fees? 
  4. What fees are charged when I refund a transaction? Do I get any of the original fees paid refunded to me? 
  5. Is there a contract term? If so, what is it? If I close my account prior to that term, what are the fees associated with the early termination? 
  6. Do you do any billbacks or are all charges related to all transactions billed in the same month? Or is it possible that I pay more fees for same transactions in two separate months?
  7. What is your statement fee and web access fee?
  8. Is there a monthly minimum processing requirement and/or fee?
  9. Do you charge an annual fee?
  10. Do you charge a PCI compliance fee?
 
For more information about avoiding hidden fees, watch Bob's full webinar HERE
 

 

Stephen Weinberg's picture
Online Marketing Manager
Posted July 9, 2014

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