Best Merchant Account For Your Business
The need for a Merchant Account tends to a question that which merchant account is best for your business? You might also be thinking that what are all the fees you are liable to pay when using a merchant account. There are many factors and pricing model, which helps you to find out the Best Merchant Account Fees. It is advisable to research and dig deep to understand your payment service provider is charging you on which model. We at Quadrapay do this job for you. We will analyze your business requirements and provide you with the best pricing model for your business.
Types of Merchant Account Fees
Processor chooses various pricing models to charge merchants depending upon their business. Some charges on a percentage basis or some may have a fixed pricing model. Let’s discuss the pricing model and the best merchant account fees.
- A flat rate: It is the simplest pricing model to understand. It is a fixed fee you are paying for a service. Your payment processor charges you with a fixed flat fee per transaction or a fixed percentage per transaction. This pricing model is best for a small business or startup entity.
- Interchange Plus Pricing Model: Interchange-plus is a pricing model used by credit card processing companies. They charge merchants for each transaction. This is called interchange fees. The credit card processor adds a markup fees with the interchange fees, and thus it will cost merchants as interchange fee + markup fees. We at quadrapay helps you to get a pricing model as 2.9% + 30¢ per transaction. Here 2.9% is the fees charged by credit card companies, and 30¢ is the markup price charged you by the Merchant Account Providers.
- Tiered Pricing Model: It is a complicated pricing model that a credit card processing companies charge to the merchants. This pricing model is not suitable for small merchants or startup. This pricing model has different charges in each tier. Every tire has a specific range, and once a range is completed, you moved on next tier and charged accordingly.
Fees Liability For A Merchant Account
The fees can vary with the different processor, but Quadrapay can help you with the fees as low as possible. Here are the charges you are liable to pay with your merchant account.
- Application Fees: Its absolutely free, and we charge you nothing for this.
- Setup Fee: Some processor charges you for a one-time setup fee. But the processor we worked with provides you free setup.
- Per Transaction Fee: This is the fee a merchant has to pay for each transaction.
- Account Maintenance Charge: We will help you to get the processor who charges very low or nill for account maintenance.
- Rolling Reserve: It is generally 5-10% of your gross sale, which will be withheld with your processor as a risk mitigation strategy. It might be even less totally depends upon the risk factor of your business.
- Chargeback Alerts and Notifications: It is an additional service which helps you to reduce chargeback ratio and maintain good processing history.
Get Your Merchant Account With One Of The Lowest Fees With Quadrapay
Apply today for your merchant account with best rates as possible. Quadrapay has partnered with multiple processors in the US, EU and many more global partners. They can help you with a featured and rich payment solution for your business. No matters whether you are a merchant with high-risk industry or small business or even a startup. Our speciality is to help every merchant from distinct industries and different countries.
If you have any query get in touch with us at [email protected]
Happy Processing !!!