Bi annual cc rate check

Well after nearly 2 years of a very nice effective rate of 2.6% with worldpay they have jacked the rates up to 3.6% effective rate. So as I head out into the wilderness to begin finding a competitive rate I needed to check in with you fine folks to see where things are at with everybody right now? Maybe 2.6 isnt plausibe anymore but I def need to be armed with information. Thanks a bunch.

you are making me feel better since I was complaining about 2.5% that I am currently paying compared to 2.2% last year

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I’m here to help :slight_smile: who do you process with?

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We are with worldpay. Rates have been steady about 2.4%. This month up to 2.8%, but there are 2 yearly fees worth about $225 added to this bill.

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What settings does everyone use when it comes to customer info?

We currently do:

Call in Delivery - Card and CCV
Online Delivery - Card - CCV - Zip code
Carry out call and online - Card brought in and run with chip authorization.

I’m running 3.2%

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Depending upon your POS/options for what processors you can use; I can get you 2.39% and .10 cents with 16.00 per fees each month. Same price for card not present/online as long as card not present revenue does not exceed 50% of card present revenue.

Feel free to send me a PM with any questions.

TSYS but the “middleman” is Batchout who we hooked up with through Foodtec

that is what we do as well

I use heartland. I am paying cost plus $.04 and I was at 2.4% for years. It jumped to 3% this year.

What we have been doing

Call in delivery: Square pay at the door 2.8% average

Web orders: 2.6%

Instore card payments: 0%. We switched to passing along the fee over a year ago. We haven’t had any issues at all. We are saving about $3k/mo.

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You use the CCV and Zip for fraud control but the Zip code is also used to obtain better interchange rates on keyed entered Visa consumer card transactions. That’s If you are on an 'Interchange Plus" pricing format

So on the “Call in Delivery” transactions, since they are 'keyed" entered. enter the Zip code also