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Credit Card Processing Comparison

Expert Market guide to credit card processing and merchant accounts

This article will compare the 5 best merchant account service providers in the US, and provide a summary their prices and features.

The top 5 are:

  1. Flagship Merchant Services
  2. Merchant Warehouse
  3. National Bankcard
  4. Leaders Merchant Services
  5. Chase Paymentech

What Should You Look For?

1. Merchant Account - All businesses should have a merchant account they link with. This allows transactions to be processed securely into a commercial bank account. These are usually set up at the time of purchase of the processing device being used.

2. Acceptance of Cards - Check that all major credit and debit cards are accepted, these are: Visa, Debit, MasterCard, American Express and Discover.

3. Payment Gateway - These companies verify card information and either decline or accept transaction payments.

4. Fraud Protection - Security should always be high on one's list of priorities and important factors when looking for a credit card processing company should be; Secure socket layer (SSL), real time processing, address verification and CVV2 (three digits).

5. Helplines - It is also a good idea to check what customer service you will receive and if a 24-7 contact method is available in case of processing or terminal issues.

Learn more:

What Are The Costs?

Monthly charges you should expect when processing credit cards are:

Payment Gateway - Some gateway providers require a monthly fee for their services.

Statement Fee - Every processing company charges for statements to be issued.

Monthly Minimum Fee - Merchant accounts have a set amount of dollars that businesses should process every month. If the minimum is not reached then this charge is added.

Transaction fees are added as follows:

Average Discount Fee (card present or not present) - A percentage of the transaction which the processing company keeps for themselves.

Transaction Fee (card present or not present) - A required one off charge per transaction.

Address Verification Fee - Every time a transaction is verified this fee will be added to credit card processing bill.

Compare The Top 5

Flagship Merchant Services

Flagship Merchant Services Logo

Flagship Merchant Services offer a digital application with same day account setup. Their payment gateway is Authorize.

  • Gateway Fee - $7.95
  • Statement Fee - $7.95
  • Monthly Minimum is formula based.
  • Average Discount Rate (card not present) - 0.98% to 1.98%
  • Average Discount Rate (card present) - 0.38% to 1.58%
  • Transaction Fee (card not present) - 21¢
  • Transaction Fee (card present) - 19¢
  • Address Verification is formula based.

Read more: Flagship Merchant Services

Merchant Warehouse

Merchant Warehouse Logo

Merchant Warehouse offer a two day account setup with no digital application. They use many payment gateways including Authorize, LinkPoint and VeriSign.

  • Gateway Fee - $5
  • Statement Fee - $7.95
  • Monthly Minimum - $25
  • Average Discount Rate (card not present) - 2.19%
  • Average Discount Rate (card present) - 1.69%
  • Transaction Fee (card not present) - 21¢
  • Transaction Fee (card present) - 21¢
  • Address Verification -

National Bankcard

National Bankcard Logo

National Bankcard use Authorize, First Data Global , Charge Anywhere and Roam Pay as their payment gateways and offer same day digital application.

  • Gateway Fee - $9
  • Statement Fee - $7.95¢
  • Monthly Minimum is formula based.
  • Average Discount Rate (card not present) - 1.99%
  • Average Discount Rate (card present) - 0.38%-1.58%
  • Transaction Fee (card not present) - 21¢
  • Transaction Fee (card present) - 19¢
  • Address Verification -

Read more: National Bankcard

Leaders Merchant Services

Leaders Merchant Services Logo

Leaders Merchant Services offer digital applications with a one day setup and use Authorize as their payment gateway.

  • Gateway Fee - $8
  • Statement Fee - $5
  • Monthly Minimum is formula based.
  • Average Discount Rate (card not present) - 0.89%-1.99%
  • Average Discount Rate (card present) - 0.35%-1.58%
  • Transaction Fee (card not present) - 10¢- 26¢
  • Transaction Fee (card present) - 10¢- 18¢
  • Address Verification is not chargeable.

Read more: Leaders Merchant Services

Chase Paymentech

ChasePaymentech Logo

Chase Paymentech offer a two day account setup and digital application. Their payment gateways are Authorize and Orbital.

  • Gateway Fee - $10
  • Statement Fee - $7.50
  • Monthly Minimum - $25
  • Average Discount Rate (card not present) - 2.19%
  • Average Discount Rate (card present) - 1.79%
  • Transaction Fee (card not present) - 24¢
  • Transaction Fee (card present) - 24¢
  • Address Verification is not chargeable.

Read more: Chase Paymentech

All of the above credit card processing companies accept Visa, Debit, American Express, MasterCard and Discovery cards.

They also accept Ecommerce and Echeck (internet) payments. Security is of a high specification and using SSL (Secure Socket Layer) ensures encryption of card details to protect against fraud.

However, there are many more credit card processing companies to choose from and it is best to shop around to find the one most suitable for your business requirements.