How much are the transaction fees?

Processing fees may seem small to start, but charged on every transaction over time, they can add up. Typical transaction fees range from 2 to 3 percent on every purchase, although fees may differ for swiped transactions versus transactions where you key the number in manually.

What other fees are there?

Many processors also charge monthly fees, as well as "gateway" fees for a secure connection, and there may be others. For instance, you may pay a fee if you don't hit a sales minimum each month, and you may also pay a PCI fee, which stands for Payment Card Industry—this is a fee a processor levies for fulfilling security standards.

When will you see your money?

Processors differ by days or weeks as to when the money hits your account, so find out when you can expect to see payments.

Will you be able to process different kinds of payments?

Does the processor have the ability to accept EMV (chip) cards? Will you be able to take payments from Apple Pay or Google Wallet? Make sure the processor can accept the kinds of transactions you anticipate happening.

What if something goes wrong?

Customer service is important, so look for a processor with phone support when you need it—which may be all the time, depending on your business hours.

The Best Processor for Your Business and the Safest Ways to Swipe Your Credit Card

Guide to Credit Card Processing for Consumers & Merchants

Name: Guide to Credit Card Processing for Consumers & Merchants
Item: Guide to Credit Card Processing for Consumers & Merchants
Author: Kate Ashford

Discover how credit card processing works, such as transaction fees and how quickly you will receive the money, and how your business can benefit from accepting credit cards in-person and virtually.

ByKate Ashford

Quality Verified

Updated: March 21, 2024

ByKate Ashford

Quality Verified

Updated: March 21, 2024

Advertising & Editorial Disclosure

About Kate Ashford

Kate Ashford is a freelance journalist who writes about personal finance, career and consumer trends. She's a contributing writer for BBC, Forbes and Money, and her work has been published in Family Circle, Health, More, Parents, Real Simple, Redbook, and Women's Health, among others.

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