Anyone have any thoughts on this?
I decided I am probably paying too much for my debit card processor. We own a convenience store and do approximately $12,000 a month in debit/credit transactions, with $7 or $8 per transaction being the average sale. Probably around 50 transactions a day.
So with $12,000 in sales, we are paying nearly $800 in fees. I was told fees shouldn't be over 3% or so, which they are, by quite a bit. After looking for a few days online, I am just at a total loss as to who to go with. We originally went with a big name bank, because we figured they would probably be better and more trust worthy than most of the little companies who may or may not be scammers.
Who do you guys use, and recommend?
I've looked at Square, and their rates are very reasonable, but for a stationary terminal, and when most of our customers would rather use debit with a pin pad, it's not very feasible.
We also take EBT foodstamps and doing all the transactions through one terminal would be a bonus. Our EBT fees are relatively low right now, as they are owned by the state government I believe. They were free up until a few months ago, though. It's costing us about $100 a month.
Thanks for any info.
I decided I am probably paying too much for my debit card processor. We own a convenience store and do approximately $12,000 a month in debit/credit transactions, with $7 or $8 per transaction being the average sale. Probably around 50 transactions a day.
So with $12,000 in sales, we are paying nearly $800 in fees. I was told fees shouldn't be over 3% or so, which they are, by quite a bit. After looking for a few days online, I am just at a total loss as to who to go with. We originally went with a big name bank, because we figured they would probably be better and more trust worthy than most of the little companies who may or may not be scammers.
Who do you guys use, and recommend?
I've looked at Square, and their rates are very reasonable, but for a stationary terminal, and when most of our customers would rather use debit with a pin pad, it's not very feasible.
We also take EBT foodstamps and doing all the transactions through one terminal would be a bonus. Our EBT fees are relatively low right now, as they are owned by the state government I believe. They were free up until a few months ago, though. It's costing us about $100 a month.
Thanks for any info.
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