An ecommerce merchant account is a necessity for accepting credit cards when doing business online but it doesn't have to cost you a fortune. I've recently been able to secure a special deal for all Ecommerce-Hosting-Guru readers. Rates like this do not come around often.
The last two card types are only approximately 10% of cards and your current merchant account would list these as extra fees as well. All credit card providers charge the 4 different rate tiers but most start at the 2nd tier rate above (ie bolded rate) and don't tell you about the extra fees that you will pay.
Variety of gateways supported and the cost is included in the monthly fee, just ask for the gateway you want or we can recommend one.
Special pricing also available for unique situations. Note that if your current rate is 2% which is considered a pretty good rate for ecommerce merchant accounts and if you have $10,000 per month of credit card sales you could save $50 a month. If your sales are higher then $10,000 your savings would be increased even more.
For comparison purposes PayPal's rate is 2.9%, 2.2% if you are a high volume seller and 3.9% for international transactions plus .30 per transaction and a $30 monthly fee.
Discount Rate: The percentage of each transaction paid as a fee. For instance if the discount rate is 1.5% and you sell $1000 in items the total discount rate would be $1000 x 1.5% = $15
Transaction Fee: Flat cost for each transaction you run. Ie 20 cent transaction fee x 100 transactions in a month = $20
AVS: Stands for address verification service which is when the credit card processor checks if the address on the credit card matches the billing address entered, helps with detecting fraud.
Monthly Minimum: minimum dollar amount that a merchant will be charged within a monthly period. Ie the total of the transaction fees and discount rates must equal at least the minimum or you will still be charged the minimum amount. So for instance if you had 10 sales for a total of $500 for a month and the rate was 1.5% plus 20 cents. ($500 x 1.5%) = $7.50 (.2 * 10) = $2.00, total fees = $9.5 but monthtly minimu was $15, so instead of being charged $9.50 you would be charged $15. If the fees added up to more then the minimum you would pay the actual fees. I know it sounds confusing at first.
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