CC Processing Fees

[ted mcmeekin]

I have been dissatisfied with First Data recently. They have not been responsive and their fees inched up over the 3 yrs we have used them. Does anyone have experience with Commerce Payment Systems.

Their fees are $2.50 /month statement, on average 2% of transaction, and 10 cents per transaction. That would half of what we paid last month. Your input would be appreciated.

Ted

 

[JeffM]

I don't have experience with either, but it might be an idea to call up your current provider and tell them you aren't happy and they need to at least match the rates offered by this other provider. They aren't going to give you better rates unless you negotiate them.

We went through this a few years back and actually ended up with a better rate package and stayed with our provider. Just remember, they want your business... buy if they aren't willing to do it at the right price or on terms that work for you and them... you need to do what makes your business more profitable.

 

[Earl Weiss]

The Chicagoland association made a deal for members with First Data,

My last statement fees were less than 5% of gross. That included Tunnel and Bay revenue.