Who Has the Lowest Processing Fees

This is a tricky question to answer because I know some of you reading this have been offered the "lowest possible friends and family rate."

And you're not going to believe me when I tell you that every processor has the same processing fees.

So here's the proof.

Here's a link to download Visa's Fees: https://usa.visa.com/dam/VCOM/global/support-legal/documents/visa-usa-interchange-reimbursement-fees-april-2018.pdf

And here's a link to download mastercards fees: https://www.mastercard.us/en-us/about-mastercard/what-we-do/interchange.html

Visa's fees will pop right up. You'll have to navigate to the center of the page to download mastercards fees.

These fixed fees are called interchange. It's a big scary confusing word, but all it really is are the fees issuing banks charge for businesses to accept their credit cards.

Let's unpack that. Issuing banks. They are the ones that give credit cards to people. They are the issuer, and they take most of the risk. So they make most of the money on the processing fees.

The lowest processing fees are negotiated by independent brokers like Ethical Pay Pro who explain this to you, and then offer a fair deal.

What really matters when discussing processing fees is how much your processor marks up the interchange fee.

Ethical Pay Pro wants to earn your business every day by offering a fair markup, with a transparent merchant account with no hidden fees and no cost to terminate the agreement.

Large companies will often say they have the best rates, and to keep these rates you must sign a 3 year agreement. And because of their brand recognition, there is built-in trust.

If you're processing payments or considering processing payments with a large bank and don't know if it's fair, head back to the home page and let's get in touch. Trust, but verify!