- 3-Tiered pricing
- 2.20% discount rate
- $0.25 transaction fee
- FREE gateway
- FREE recurring billing
- FREE PCI Compliance
- NO monthly minimum
- NO setup fee
- Virtual Terminal
- Authorize.net compatibility
Merchant account pricing can seem overly complicated and nearly impossible to fully understand. Mostly, that's because it is. It's based on a system of mutiple layers and each layer has a cost, sometimes without much transparency.
Swipe Fast is a reseller for different processing banks, which themselves are a layer on top of banks, which are a layer on top of Visa/Mastercard. You might think that it would then be cheaper to cut out the middle men and go straight to a local bank or the processing bank. In reality, this is rarely ever the case. All banks mark up their rates so that they can sustain their business and hedge against risk. When there's fraud or chargebacks, the cardholder is never responsible for the amount, and Visa/Mastercard are never responsible. That means, if the merchant doesn't pay, the processing banks have to pay. They need increased profits from transactions to help offset those losses.
To resellers, like Swipe Fast, they offer rates below what are offered to consumers. Since we have lower overhead, we can afford to offer the same service at a lower rate. You still get everything the bank provides, you can still call them 24/7 for customer support, it just costs you less. Also, if you're ever dissatisfied, instead of hitting a dead-end with the bank, you can call us and we'll use our leverage with the bank to resolve it, or if we have to, coordinate a smooth switch to another processor.
This is by far the most common merchant account pricing structure. All of the many different types of underlying transaction percentage rates are bundled into 3 tiers.
Relaying all of the various interchange conditions that translate into these 3 tiers is nearly impossible, so it's usually described in more general terms and then dealt with afterwards on a case-by-case basis.
* Follow the links on the right to see our 3-tier rates for internet and retail accounts.
In addition to the percentage rate fees, there are flat fees associated with credit card transactions. The most typical ones are below, and our standard prices are in bold:
Merchant accounts also come with recurring flat fees, which can often be surprising. The most typical ones are below, and our standard prices are in bold:
The tiered pricing above is for Visa/Mastercard. Discover and American Express don't use the same multi-layer system, so their rates are set and passed through to you.
For your convenience, we can submit an application to them on your behalf, and coordinate with the processing bank to enable these cards for your account.
We don't want you to be surprised by any charges, and we want you to know what you're getting into before you sign. In our online application, on the final review page, we include the full contract and all the terms and conditions from the processing bank, so you can see all the details if you want. You also receive an emailed copy after signing.
We try our best to simplify this complex industry, and present a very competitive, affordable, easy to understand offering.
The processors we work with do require a contract term and charge a termination fee. We never mark this fee up and make no profit from it. Almost always, issues can be resolved without them charging it, including renegotiating pricing terms if necessary. Also, it is usually not applied if you go out of business or stop accepting credit cards altogether. This is something they require, and we'll continue to push for its removal. You can see the the contract term and cancellation fee for your specific processor in the application contract text on the Review page of your application, before signing.
* Gateway pricing assumes our standard Internet offering with an Authorize.net-compatible gateway. Using Authorize.net instead of our gateway incurs additional fees that are passed through to you.