Most small businesses take cards, and most pay more than they think. Statements mix percentage fees, fixed fees per transaction and monthly charges.
Find the effective rate
Add every fee on the statement for the month and divide by the card sales. That effective rate is the real cost of taking cards, and the number to compare between processors.
Small tickets cost more
A fixed fee per transaction weighs heavily on small sales. Thirty cents on a $10 sale is three percent by itself.
Ways to lower it
- Ask your processor for a rate review once a year.
- Offer ACH or bank transfer for large invoices.
- Before adding a card surcharge, check the card network rules and state law, and disclose it clearly.
Our card fee calculator works out the effective rate and the yearly cost.
General information, not financial advice.
This article is general information, not legal, tax or regulatory advice. Rules change; confirm current requirements with the responsible agency or a licensed professional.
