Ready for a Surprise – Calculate the rate that you’re actually paying to accept credit cards

November 2009

The rate that you actually pay to accept cards is likely much higher than what you thought you signed up for. This rate is referred to as your “Effective Rate” and it’s really easy to calculate. You thought you signed up for a low rate of 1.79% or similar, do the math and you’ll learn a different story.

The best way to calculate your Effective Rate is to add up all the fees that you paid for credit card processing including interchange, discount, transaction fees, authorization, AVS, batch, monthly fees, terminal lease and rental fees, etc. and then divide this total by your processing volume. For example, if your statement lists fees of $325 for interchange or discount, $50 for transaction or Auth fees, and $25 for monthly fees; then you’re paying a total of $400 per month in fees. Assuming your credit card transaction volume is $10,000 per month, doing the simple math below provides your Effective Rate of 4.0%.

Total Fees Paid: $400
Total Credit and Debit Card Volume: $10,000
Effective Rate: $400 / $10,000 = 4.0%

That teaser rate that you thought you were paying, is not what you’re actually paying…Surprise!

Do this simple calculation or call us and we’ll be happy to help you calculate your actual Effective Rate. We’ll give you an honest assessment of your rates and fees and do our best to reduce your Effective Rate, because this rate is the one that matters the most.

Here are just some of the money saving solutions that Winery Payment Solutions offers.

One Account for Everything

You don't need multiple accounts, statement and monthly fees for Visa, MasterCard, Discover and American Express. Stop paying additional monthly fees for statements when you can have a consolidated statement and one account for all your transactions. In addition you don't need a separate merchant account for E-Commerce, Retail sales and Mobile payments. All you need is one merchant account for all your sales channels and no additional fees.

Online Terminal

If you'd like to accept payments without a credit card machine to further reduce your costs and power your wine club, you can use our virtual terminal for all or some of your transactions. You can also connect a card reader and receipt printer to your PC and have credit card machine wherever you take your computer.

Electronic Checks

With our award winning check processing solutions you can scan a check and get paid fast. If you want to stop going to the bank every day to deposit checks, or you want to make sure a check is good before the customer leaves, our e-check solution is right for you.

Gift Cards

Offer your customers the option to buy and pay with gift cards. With every merchant account, you get the first 50 standard gift cards for FREE.

Low Cost Credit Card Machines

With any merchant account we offer credit card machines to meet your needs at the lowest prices possible. Don't fall for a free terminal, there will be fees charged later to make up for the "giveaway".

Merchant Service Advisor

Signing up is a simple step away.

Ready for a Surprise – Calculate the rate that you’re actually paying to accept credit cards

World Class Payment Solutions

Already with another provider?

We'll pay your termination fee if you move your account.

Call Winery Payment Solutions, Inc. at 800-993-6300.