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Square Reader, Evalon, Costco, Intuit, Wells Fargo Credit Card Processing Merchant Services.

The fees and equipment costs vary per company

DALLAS, TX – Merchant Resources, www.credit-card-processing.com, looks at Square Reader Ads and the deceptive advertising campaign.

Merchant Resources called the 1-800 listed on each of the above credit card merchant services and discovered a variety of differences outlined below:

Intuit Quickbooks Payments

• Swiper rate @ 2.4% and 25 cents
• Non-swipe rate/reward cards @ 3.4% and 25 cents Software is $10 a month

Intuit quickbooks payments does not sell terminals. Intuit Quickbooks only sells swipers for the ipad or iphone. Their rates compare to the Square Reader. The rates are high and you also pay the 25 cents on top of the rate.

Costco by Evalon

• Base Retail Visa/MC rate @ 1.38% and 19 cents
• Rewards Cards Visa/MC rate @ 1.99% and 19 cents
• Business Cards Visa/MC rate @ 2.65% and 29 cents
• Foreign and Government Cards Visa/MC 3.55% and 29 cents
• Terminal lease $30 a month for 2 years or $489 terminal purchase
• Need to be an executive Costco member, so you need to pay $110 a year
• No contract

Costco, the so called low price leader, was not so low price. You need to be an executive member and still pay $489 for the proprietory terminal. There rates are not that impressive.

Square Reader Swiper

• Base Retail Visa/MC rate of 2.75%
• Key Entered Rate of 3.5%

The square reader is a good solution for merchants that are seasonal, since SquareUp does not have any monthly fees.

Merchants consistently over $10 per sale in Visa/MasterCard volume per month, have better options at:

Wells Fargo

• Base Retail Visa/MC rate @ 2.2% and 25 cents
• Mid qualified rate @ 3.1% and 25 cents
• The salesperson did not disclose the non-qualified rate
• Lease of terminal for $35 for 48 months or purchase terminal for $699 (FD130 terminal)
• $75 yearly fee
• $95 Setup fee
• No contract until filing-out personal information using a social security number, etc.

Wells Fargo credit card processing was high in fees, equipment cost and processing rates. Each time we called we were quoted different rates.

Bank of America

• 1.69% Base Retail Visa/MC rate
• 3.19% Mid-qualified rate
• Over 4.35% Non-qualified rate
• Terminal cost on a lease of $28.95 per month or purchase for $599
• No contract until filing-out personal information using social security number, etc.

Bank of America was transparent regarding their high discount rates.

Merchant Resources offers the following:

• 1.25% for debit/credit card with no pin
• 1.65% for base Visa and MasterCard, Discover
• No Monthly Fees
• FREE Terminal, cellular phone Swiper or POS for restaurant

If a business has a low average ticket, Merchant Resources can provide a transaction fee of 5 cents.

Logo: http://www.abnewswire.com/pressreleases/wp-content/uploads/2015/07/1436552674.png

“Wells Fargo high rate credit card processing rates for visa, mastercard and discover. Square reader, based in San Francisco, has very high rates if you do larger transactions, over $100.”

Media Contact
Company Name: Merchant Resources
Contact Person: Jim Johnston
Email: merchantconsult@gmail.com
Phone: 1-888-895-3129
Country: United States
Website: http://www.credit-card-processing.com

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