Cc rates....AGAIN

C

clownhair

Active member
I know I just posted this not too long ago but I want to triple check what people are paying and didnt think people would respond to the old thread. I want to know EFFECTIVE rate, the amount you pay / sales processed is your effective rate. I am currently with Worldpay and paying 3.6% effective rate. In the last thread multiple people said they were paying 2.6%. WorldPay literally 5 minutes ago told me that is impossible and nobody has rates that low. I called heartland and gave them my info and without telling them what I was looking for they offered me a 2.6% rate and when I told Worldpay this they were very incredulous that anybody could do that and they feel there’s something dubious going on with Heartlands quote. Also would be good if you could post your monthly sales you process in addition to your rates because they did say that would lower the rates.
 
Low volume single location store, Delivery / Carryout only, over the phone, in person, and online payment processing. We are forced to use WorldPay due to our POS provider, ReventioN, selling and now becoming HungerRush. The new owners require it.

Last month processed was $49,537.07
Processor Fees: $97.83
Interchange Fees: $826.39
Other Fees: $447.27
Total Fees: $1,371.49

$1,371.49 / $ 49,537.07 = EFR 2.77%

Just as a FYI on some of our higher cost “Other Fees”

Network & Processor Access Fees $75.80
Mastercard, Visa, Discover, and American Express Assessments: $67.32
Risk Fees: $133.69
Store & Forward Fee: $15.00
Technology Gateway: $9.95
Saferpayments Basic: $14.95
Visa Transaction Integrity Fees: $64.20
 
Thank you. Its so weird how Worldpay told me it was literally impossible to have these rates yet the people who have shared there rates with me are all around this number. I just wanted to triple check before I pull the ripcord and cut them off.
 
Store 1 $3,144.32 / 104,085.56 = 3.02

Store 2 $2856.14 / 92,580.41 = 3.08

Just increased last month by .030

I was around 2.70 for both
 
I am usually a hair under 3%. Was 2.4% last month, which sometimes happens. Just depends on the mix of cards used. I use CardConnect. I think the term is “interchange plus” provider, which means that they charge you exactly what they are charged plus a fixed percentage.
 
I use Heartland.
We have Dine-in, Delivery, Carryout.
April credit card fees = 2.57%
That % included card not present transactions which are .76% higher.
 
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