Credit Card Processing

[EXP Frank]

These guys seem to all be sleezy salesmen. Who do you guys trust with your processing and do you have any tips when it comes to dealing with these companys?

[mmotley]

X-Charge is who I use. They partnered with Mitchell1, and so far I have had a good experience with them... Only experience I've ever had with a credit card processing company though.

[mccannable]

X charger here too. Just started but they work with our software and have great pre negotiated rates. We get 5 calls a day for merchant services sales people.

[Joe Marconi]

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[CARMandP]

I had X-charge through Mitchell but I am pretty sure I signed up quite early and was getting raped on the fees. I am currently with Heartland and have been very happy with the consistent 1.6% across the board average every month even with American Express. I have to use a seperate terminal which was one of the downsides to getting rid of X-charge but we have gotten use to it.

[mmotley]

I HEARD that x-charge will match the rates of any competitor. I might start shopping around and see if they will match whatever I find

[phynny]

Find a good local bank so you have a local human to strangle when needed.

[TAYLORJ91]

No offense "phynny" but involving a local bank in your card processing is the last thing you want to do. I made that mistake. It's called third party processing. The bank tacks on a fee, on top of what you would normally expect. Through my bank I was paying 2 to 2.5 times the fees I was used to seeing. I should also mention that First Data was the carrier, who by the way is the absolute worst!!!! I would never use them again even if they offered to do it for free.

[ATLAuto]

The way credit card processing works (to my understanding) is the following:

 

Card gets swiped -> 3rd party company processes transaction (fee) -> 2nd party processes the transaction (fee) -> major CC company receives (fee)

 

There are 6000+ third party companies. We use Merchant Partners, since they have an unlimited flat fee every month (not a percentage fee)

There are only 3 second party companies (I believe). Merchant Partners uses World Pay, which have very good fees.

And then there are the major CC companies. Visa, MC, AmEx.

 

Unless your 3rd and 2nd party companies are killing you (which may be the case), the majority of fees that you pay are going to be to the CC companies. We get a fee statement every month. AmEx is absolutely brutal on fees. Best is debit cards with no/little fees.

[Dnzauto]

Make sure you get PIN BASED DEBIT pad! Thats the lowest possible rate, 30% of my transactions are Pin based so I am happy. I always try to do business with my customers, ( ex: office supplies etc), ao my cc processor is also my customer... I am happy.... Email Chris if you like ... [email protected].