A merchant account is an account that enables merchants to process online credit and debit payments. … According to a designated schedule as determined by your payment gateway, the funds are automatically transferred from your merchant account into your business bank account, which you set up for yourself
The average credit card processing cost for a retail business where cards are swiped is roughly 1.95% – 2% for Visa, Mastercard, and Discover transactions. The average cost for card-not-present businesses, such as online shops, is roughly 2.30% – 2.50%.
Square: Best Overall Credit Card Processing for Small Businesses. Square is an all-in-one, PCI compliant, cloud-based credit card processing and point-of-sale (POS) system. Square is the overall best choice for small businesses because it is easy to use, is competitively priced, and comes with a free POS system.
Here are other top rated credit card processing companies:
- PayPal: Best for online merchant services.
- Cayan: Best for larger businesses.
- Chase Merchant Services: Best for traditional merchant processing services.
This post was written by fdfadmin