SOURCE: Merchant Resources, Inc.

Merchant Resources, Inc.

June 08, 2015 10:15 ET

Credit-card-processing.com Compares Square Reader, Wells Fargo Merchant Services, Chase Merchant Services and Costco

DALLAS, TX--(Marketwired - Jun 8, 2015) - Merchant Resources compares its credit card merchant services to those of Square Reader, Wells Fargo Merchant Services, Chase Merchant Services and Costco Merchant Services.

After Merchant Resources called the 1-800 listed on each of these merchant services, a variety of differences and cost of each of these credit card merchant services have been discovered. The compilation below:

--Square Reader*

  • 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. However, any merchant that is consistently over $100 in Visa/MasterCard volume per month, there are better options.

-Wells Fargo**

  • Base Retail Visa/MC rate of 1.8%
  • Lease of terminal for $35 a month or purchase terminal for $500
  • $75 yearly fee

** Merchant Resources has been in the business for over 20 years, knowing "for a fact" that the rate, no matter what the card is, is NOT 1.8%. It seems Wells Fargo has to train their merchant services department what the actual fees are.

-Costco

  • Base Retail Visa/MC rate of 1.38% and 19 cents
  • Rewards Cards Visa/MC rate of 1.99% and 19 cents
  • Business Cards Visa/MC rate of 2.65% and 29 cents
  • Foreign and Government Cards Visa/MC 3.55% and 29 cents
  • Lease of terminal for $30 a month for 2 years or purchase terminal for $489
  • Need to be an executive Costco member, so you need to pay $110 a year

Chase Paymentech

  • Base Retail Visa/MC rate of 1.99% and 25 cents
  • Mid qualified rate of 2.68% and 25 cents
  • Non qualified rate of 3.76% and 25 cents
  • $100 fee to get setup
  • $25 monthly minimum
  • Monthly fee of $9.95
  • Free terminal with a 2 year contract

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, Swiper for your cellular phone, or POS for restaurant

Merchant Resources offers custom quotes to fit your particular business.

To receive a free no obligation merchant account quote, visit http://www.credit-card-processing.com or call 1-888-895-3129

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