Save Money on Merchant Processing Fees

Written by |
Advertisement

If you’re a small business and you need to save money, listen up to this.

Cheaper Options for Merchant Processing Fees

A company I’ve talked about a few times, Square, has become a huge player in allowing any small business to take credit card payments on the go.

Square offers a plug-in device that can be used with most Apple and Android devices to process credit card transactions anytime, anywhere. There’s no monthly fee, no contract and the plug-in device itself is free. You simply pay 2.6% + $0.10 on every swiped transaction.

Another alternative is PayPal that works with compatible smartphones and tablets, and you pay 2.7% per U.S. card swipe.

Meanwhile, a third competitor is Intuit’s QuickBook GoPayment. It’s another free piece of hardware. The merchant fee is 2.4% + $0.25 per swipe for low-volume users and again you can process payments right there on the spot.

I love these new developments because they can be a potential saver for those with irregular transactions. Yet they’re not the best way if you do high dollar ticket transactions. In that case, you may want to look at the merchant processing offers through Sam’s Club or Costco Wholesale.

More Money Resources From Clark.com:

Advertisement
Welcome bonuses can be a great way to boost the value of a credit card. Best Credit Card Welcome Bonuses for 2022 - If you're in the market for a new credit card in 2022, you may be hoping to cash in on the hundreds of dollars in sign-up bonuses offered to new customers. Welcome bonuses and offers are a marketing tool that…
The best cell phone plans include Tello, Mint Mobile, Visible, T-Mobile, Consumer Cellular and more Best Cell Phone Plans in 2022: The Cheapest Plan for Every Need - Team Clark ranks the best cell phone plans and deals! See our favorites for unlimited data, families and cheap plans starting at $10/month.