Flat Rate Processing

[DianaScott]

Anybody here who has experience with flat rate processing? My friend recommended that I try it instead. Are there any hidden charges or does something like that depend on the company? Any advice?

 

[peterjschmidt]

I'm not sure what you're asking... what is flat rate processing and what would it be used for?

 

[John P]

Square is probably the best known. Works on Android and Iphone. Best used with Ipad. Square readers are free. Square stand is $99.

It's a flat 2.75%. There are no hidden fees. Unless you are doing well over 2 million per year, and can negotiate a special rate, you will not find cheaper. Pull out your statements. Do the math. With per swipe fees and paperwork charges and etc., you are paying way over 2.75%, even with a base of 1.69 to 1.89%.

 

[DianaScott]

Thanks for the replies.
I'll definitely check out Square though I have been hoping to sign up with TSys since the credit card machines that I use are from them. I'm planning to go to my bank and see if maybe they can advise me in this. And you're right. I already did the math and I'm paying way, way over 2.75% in terms of processing fees.

 

[DianaScott]

Is there anyone here who has a first hand experience with the provider mentioned or others that I may look into? Thanks.

 

[KonaKona]

It's my day job to advise people on this. Coffee is my passion work. Square are really good and have good customer service. Payanywhere are making a lot of noise in the space and are cheaper than square 2.69%.

 

[KonaKona]

Also your bank will usually try to sell you on their merchant service. If you bargain hard enough and have enough volume they can sometimes give you a better rate.