Plain-English guide for OKC business owners
How credit card processing pricing works.
Every pricing model includes the card networks’ cost. The difference is what gets added on top, and how clearly you can see it.
Here is how the common pricing models work, how to find what you actually pay, and which fees to look for on your statement.
Step one
Start with your effective rate
Divide last month’s total processing fees by last month’s total card sales. If you paid $540 in fees on $18,000 in card sales, your effective rate is 3.0%. That one number lets you compare any two offers fairly.
Use the rate calculatorCompare like with like
The four pricing models
Flat rate
One percentage (sometimes plus a few cents) on every sale. Simple to read, but a basic debit card is charged the same as a premium rewards card, and the difference stays with the processor.
Tiered
Sales are sorted into buckets such as qualified, mid-qualified and non-qualified, each with its own rate. The processor decides which bucket a card lands in, which makes the bill hard to predict.
Wholesale platform pricing
Also called interchange-plus. You pay the actual card-network cost of each transaction plus a fixed, disclosed markup, so your rate follows your real card mix.
Cash discount program
Your posted prices are your card prices and cash customers get a 4% discount. You pay one flat monthly fee, price-locked for 48 months, instead of a percentage of every sale.
Read the fine print
Fees to look for on your statement
- Monthly or statement fees.
- PCI compliance or non-compliance fees.
- Batch or settlement fees.
- “Non-qualified” or “mid-qualified” surcharges on a tiered plan.
- Equipment lease payments.
- Early termination fees in the agreement.
About ten minutes of your time
How the free review works
1. Tell us about your business
Fill out the short form. We ask for your most recent monthly statement, which you can download from your processor’s dashboard or find in your email.
2. We break down every fee
We line up what you paid against what the same sales would cost on wholesale platform pricing, card type by card type, and walk you through it.
3. You decide, with real numbers
If the savings are worth it, we handle setup in person at your location. If they are not, we will tell you so, and you keep the report.
Processing pricing FAQ
What is interchange?
Interchange is the fee set by the card networks and paid to the bank that issued the card. It varies by card type and by how the card is taken. Every pricing model includes it; the difference is how much is added on top and how clearly it is shown.
What is a good effective rate?
It depends on your card mix and average sale. The only way to know is to compare your actual statement, which is what the free review does.
Is a cash discount program allowed in Oklahoma?
Yes, when it is set up correctly. Discounts for paying cash are allowed under federal law, but the program has to be a true cash discount with clear signage at your entrance and register and disclosure on receipts. We set all of that up for you.
Find out how much you’re overpaying.
A few quick fields. We’ll be in touch within one business day to get your statement and start your review.
Rather talk now? Call or text (405) 373-8254