FREE ONLINE CREDIT CARD PROCESSING FOR SMALL BUSINESS

The Cheapest Credit Card Processing for Small Business 2021

Hello friends,

Are you a small business owner looking for ways to cut down on costs? One area where you can save money is credit card processing fees. Credit card processors charge a fee every time you make a transaction using a credit or debit card. The fee can range from 1% to 3% of the total transaction amount. In this article, we will discuss the nine cheapest credit card processing options for small business.

Get the Best Merchant Account According to Your Business

Before we dive into the cheapest credit card processing options, let’s talk about merchant accounts. A merchant account is an account that allows businesses to accept payments from credit and debit cards. There are various types of merchant accounts available, and it’s important to choose one that is best suited for your business needs.

The two main types of merchant accounts are traditional and aggregators. Traditional merchant accounts are set up through a bank or financial institution, and they are typically more expensive than aggregators. Aggregators, on the other hand, group together many small businesses to negotiate better rates from credit card processors.

When choosing a merchant account, consider the size of your business, the volume of transactions, and the types of payments you will be accepting. Do your research to find the best merchant account for your business.

Which Credit Card Processing Is The Cheapest for Small Business?

Now, let’s get into the nine cheapest credit card processing options for small business. These options are based on fees, ease of use, and customer service.

1. Square

Square is one of the most popular credit card processing options for small businesses. They offer a free card reader that can be used with a smartphone or tablet. The processing fee is 2.6% + $0.10 per transaction for in-person payments and 2.9% + $0.30 per transaction for online payments.

2. PayPal

PayPal is another popular option among small business owners. They offer a free card reader and a mobile app for processing payments. The processing fee is 2.7% per transaction for in-person payments and 2.9% + $0.30 per transaction for online payments.

3. Stripe

Stripe is a popular option for online businesses. They offer customizable payment forms and a wide range of integrations. The processing fee is 2.9% + $0.30 per transaction.

4. Dharma Merchant Services

Dharma Merchant Services is a traditional merchant account provider that offers competitive rates for small businesses. The processing fee is interchange + 0.15% + $0.07 per transaction.

5. Helcim

Helcim offers a wide range of payment options, including online and in-store payments. They offer transparent pricing with no hidden fees. The processing fee is interchange + 0.25% + $0.08 per transaction.

6. National Processing

National Processing offers a low monthly fee and competitive transaction rates for small businesses. The processing fee is $10/month + interchange + 0.8% + $0.10 per transaction.

7. Fattmerchant

Fattmerchant offers customizable pricing plans based on the volume of transactions. They also offer a free virtual terminal and mobile app. The processing fee is interchange + $0.08 per transaction.

8. Payline Data

Payline Data offers flexible pricing plans and a wide range of payment options. The processing fee is interchange + 0.2% + $0.10 per transaction.

9. CDGcommerce

CDGcommerce offers competitive pricing and a wide range of payment options. They also offer a free payment gateway. The processing fee is interchange + 0.3% + $0.15 per transaction.

Free Credit Card Processing for Small Business

If you’re looking for a way to avoid credit card processing fees altogether, there are a few options available.

1. Cash Discount

Some businesses have started offering cash discounts to avoid credit card processing fees. This means that the price of a product or service is lower if paid with cash than if paid with a credit or debit card.

2. Surcharge

Another option is to add a surcharge to credit card transactions. This means that customers will be charged an additional fee if they choose to pay with a credit or debit card.

It’s important to note that cash discounts and surcharges are not legal in all states. Do your research to make sure you are following local laws and regulations.

Conclusion

In conclusion, there are many options available for small businesses looking to save money on credit card processing fees. It’s important to consider the needs of your business and choose a merchant account and credit card processing option that best suits those needs. Remember, it’s also important to follow local laws and regulations when implementing cash discounts or surcharges.

Thank you for reading, and we hope that this article has been helpful in your quest to save money on credit card processing fees. Until next time, goodbye and happy saving!

FREE ONLINE CREDIT CARD PROCESSING FOR SMALL BUSINESS

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