What’s the cheapest credit card processing for a small business?
There is no single answer, because the total depends on your own numbers. Here is what drives the cost, published card-present rates side by side, and the fees to check before you compare.
Short answer: it depends on your monthly card volume, your average ticket, and the types of cards your customers use. Compare the total monthly cost, including fees outside the rate, not the headline percentage. Your own statement is the real comparison.
What decides what you pay
- Monthly card volume. The percentage applies to every dollar you run, so small differences in rate add up as volume grows.
- Average ticket. The per-transaction fee is the same on a $5 sale and a $500 sale. On small tickets it can matter more than the percentage, so read that line first.
- Card mix. Debit costs less to accept than premium rewards cards. A flat rate charges the same on both. Interchange-plus passes the difference through.
- Fees outside the rate. Monthly fees, equipment, and contract terms can cost more than a difference in rate.
Flat rate or interchange-plus?
A flat rate is one percentage plus a per-transaction fee on every card. It is simple to read and easy to predict. Interchange-plus passes the card networks’ and issuing banks’ fees through at cost and shows the processor’s markup on its own line, so your total moves with the cards your customers use. Neither is always cheaper. It depends on your statement. How the pricing models compare.
Published card-present rates, side by side
These are published starting rates for in-person card payments. Each one is a percentage of the sale plus a fee on every transaction.
| Provider | Published card-present rate |
|---|---|
| Square (Free plan) | 2.6% + 15¢ |
| Stripe Terminal | 2.7% + 5¢ |
| Clover (Personal Services Standard plan) | 2.3% + 10¢ |
| Crane Processing | Starts at 2.19% + 9¢ |
Published rates only. Plan fees, software, equipment, and other charges are separate and differ by provider. Higher-volume businesses can qualify for a lower rate. Your own statement is the real comparison.
How to work out your own monthly cost
Monthly cost = card volume × the percentage + number of transactions × the per-transaction fee. Then add any monthly, plan, or equipment fees. Run it for each offer on your own volume and average ticket, or use the fee calculator to do the math for you.
Costs that don’t show up in the rate
Two offers with the same rate can cost very different amounts. Ask about each of these before you sign:
- Monthly fees. Platform, plan, software, statement, or minimum fees. We charge no monthly platform fee.
- Equipment. Whether the device is rented, bought, or leased, what it costs each month, and how long that runs. We quote equipment separately from processing, as rental or purchase.
- Contracts and early termination fees. How long the agreement runs and what it costs to leave. Our processing is month-to-month, with no early termination or cancellation fee.
- PCI fees. Some processors charge a compliance program fee, and a non-compliance fee can apply while an account isn’t validated. We provide PCI guidance at no monthly charge.
- Chargeback fees. What each customer dispute costs. We disclose ours with your account terms.
When a flat-rate app is the simpler choice
If you take cards only now and then, or your monthly card volume is very low, a flat-rate app you set up yourself, like Square, can be the simpler choice. At low volume the dollar gap between published rates is small, and ease of setup may matter more than the rate. As your volume grows, the rate, the per-transaction fee, and the monthly fees are worth a closer look. What changes when you switch from Square.
Get a real comparison
Published rates tell you where pricing starts. Your statement shows what you actually pay. Estimate your monthly card costs for a quick number, or send a statement for a free line-by-line review. We compare the options you qualify for, including when staying with your current provider costs less. Savings vary with volume, card mix, and current processor.