This depends on the size of your business and the type of industry it operates in.
CREDIT CARD TERMINAL COMPANIES PLUS
American Express feesĪmex transaction rates range from 2% to 3.50% plus a few pennies (usually between $0.05 and $0.15) per transaction. Note that whilst Visa and MasterCard are card networks partnering with a bank (such as Chase and Capital One) to offer credit cards to customers, Amex works as both card network and bank. Some small businesses don’t want to accept Amex due to their higher rates. Visa and MasterCard have lower transaction rates than American Express, hence being more widely available.
These rates and fees vary greatly depending on the customers’ card network or bank.
However, you won’t be able to avoid the standard transaction rates and service fees. If your business is fully digital, you avoid all the equipment costs for the hardware needed. Credit card feesĬredit card fees are generally higher than debit card, and you may pay a lot of additional fees for credit card processors. Before choosing a credit card processor for your company, we will look into the credit card networks available. Have a look at our previous article if you want to know more about what is a credit card and how it works. You can instantly connect to these processors, or any others in the market, through the Imburse platform. In this article, we will enlist some of the most popular credit card processing companies. Aside from having total freedom of choice, integrating new providers and technologies through Imburse is an easy, quick and cost-effective process, which gives you the flexibility to adapt fast to customer demand and market changes. Our platform enables you to integrate any payment provider or technology you want, so the options are endless. Offering credit cards as a payment method for your customers may open a lot of doors for your business and enable you to quickly enlarge your customer base.īy connecting to Imburse, you can start taking credit payments from your customers in just a few weeks. In the US, 70% of the population owns at least one credit card ( Shift Processing report). Credit cards are amongst the most popular payment methods worldwide.
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