We know that when it comes to your business, you want to be across every tiny detail.

But sometimes credit card processing fees are complicated and overwhelming.

So, we’ve created the ultimate guide to help you understand and pick the right payment gateway for your business.


The Key Factors include:

  • The Interchange Rate– The interchange rate refers to the fees that are charged by the credit card companies (Visa or MasterCard) to process the payment. This rate will vary depending on the type of credit card used. However, all businesses pay the same interchange rate.
  • The Merchant Account Provider Fee– You need a merchant account to connect to the credit card network. They will all charge a fee on top of the interchange rate. These fees are negotiable and can vary dramatically.
  • How the card is processed- How the card is processed will affect the merchant account provider fee. For example, an in-store transaction has a higher risk of fraud so, therefore, come with a higher processing fee.
  • Setup and monthly fees- Merchant account providers will vary with their set up and monthly fees. Some will only have a one-off setup fee, while others will come with a setup fee as well as monthly fees for extra support and PCI Compliance.

Bearing in mind that Interchange rates are the only process that remains unchanged.

It’s crucial that you pick a payment gateway with additional merchant friendly features at competitive prices. And Safe2Pay is just that company who can help you navigate the waters and provide calm sailing. Its payment gateway is doubly secure with encryption and tokenisation, and Safe2Pay can also set you up with a website, domain name and all the other tools to get you online smartly and simply.

Watch Out for These Traps

With so many competing gateway providers it can be easy to fall for enticing promises, however, more often than not you end up paying above what you thought you had agreed on. Make sure you are aware of these little tricks that might end up catching you and your funds off guard.

  • Cancellation fees– Always read the fine print. Many payment gateways say that you can cancel at any time. However, you’ll often find that you’re still tied to the merchant account. We can’t stress how important it is to read your contract before signing anything.
  • Chargeback fees– Chargebacks can happen when a customer disputes a charge made with their card, the merchant reverses the transaction, and the customer receives their money back. Chargebacks can be extremely damaging especially to small businesses.
  • Monthly minimum fee– Some gateways include a minimum fee. Which means you have to sell a certain amount of product each month. Otherwise, they will charge you an additional monthly cost.
  • Qualified vs non-qualified transactions–  When a payment gateway advertises what their transaction rate is, the price they promote is their lowest rate for “qualified” transactions. The problem is almost all your transactions will be “non-qualified” transactions at a much higher rate. Make sure you do your research to know exactly what your non-qualified transactions will entail.

What You Need to Do Now

It’s time to make contact with Safe2Pay.

Safe2Pay can’t wait to get you set up and ready to accept credit card payments securely, simply and smartly.

Contact us or call us on 1800 723 327.