When shopping for merchant services, it’s tempting to choose the provider with the lowest advertised processing rate. But in reality, the lowest rate doesn’t always mean the lowest overall cost for your business.
Here’s why:
1. Hidden Fees Add Up
Some processors offset low rates with extra charges—monthly fees, statement fees, PCI compliance fees, batch fees, and more. Over time, these costs can outweigh the savings from a slightly lower rate.
2. Tiered Pricing Can Be Misleading
Introductory rates often apply only to a small portion of transactions. Many cards or transaction types may fall into higher tiers with much higher rates.
3. Poor Service Costs You Time and Money
A processor with rock-bottom rates but poor customer support can leave you waiting days for help or dealing with costly downtime. Fast, reliable service is worth paying a little more for.
4. Technology and Integration Matter
A system that integrates smoothly with your business saves time and prevents errors—value that goes far beyond the rate per transaction.
At Bankcard Processors, we focus on total value—transparent pricing, reliable technology, and responsive service—so you get the best overall return, not just the lowest number on paper. The cheapest rate isn’t always the smartest choice, but the right partner always pays off.
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