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New Processor Needed - Any ideas

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  • New Processor Needed - Any ideas

    Hi Everybody,

    We are looking for a new credit card processor we are currently using and Bank of America but after crunching numbers these offers of 2.9% + .30 per transaction looks like it would end up saving us about 150.00 a month on average - So we are switching. We would use PayPal but there is no way they will ever offer Apple Pay since its a competitor.

    But we signed up for Stripe regardless of all the complaints they had online because they had Apple Pay, but the payment time is so long its stupid especially your first payout - which is about 10 days. With our business we can't wait 10 days for our first payout.

    So we went to Square - excellent service next day payouts but they are not that well integrated with 3D cart - for example no virtual Terminal and you can't issue a refund and have it show in the customers order. You will get a notice that 3D cart can't complete the transaction (Refund) but Square sends an email saying they are processing the refund - so scratching my head. The refund is processed but still no record of it on the customers order which I know will cause issues down the road.

    So I turn to you guys and gals - anyone have any suggestions as a good credit card processor (that offers Apple Pay but not an absolute requirement) I just want something that will show refunds in the order page, have the virtual terminal and have fast or faster payouts. Next day funding is a great service and I was shocked Square offered it I would stay with them but I need a stronger integration with 3D cart - and frankly a little shocked 3D cart didn't do a better job with it.

    So please let me know if you have any ideas.

    The Candy City
    Last edited by candyman3597; 04-22-2017, 05:02 PM.

  • #2
    Call my friend Janet at Incom Direct. Tell her Rob sent you.


    • #3
      Hey Rob thanks for the heads up but we found one that i don't think anyone can beat its called Fatt Merchant and they have a 4.6 star rating on Google they offer rates at .58 above interchange and .10 per transactions a $79 monthly membership fee and no fees at all except $20 CIM module if you want it from So Visa/MC will range from .8 to 1.9% and Disc/Amex from 1.9%-2.2%. We did the math it works out cheaper that Square - Stripe we wouldn't go near because of the horrible reviews. We currently use Bank of America and with these rates it would have saved us $1,550 for the first QTR of 2017. And its so we know refunds and partial refunds and the virtual terminal all work with 3D cart.

      But thank you again for the suggestion.


      • #4
        candyman3597 That 2.9% + $0.30 per transaction is pretty standard. Either that or a flat percent-of-sale . The cost-plus interchange rates you're exploring will always be cheaper, but you need higher volume to get those rates. It sounds like you're on the right track.
        - Dean P. e-commerce and small business consulting


        • #5
          I was looking at processors a couple of months ago in fear PayPal was going to raise my rates to 2.9%. Fortunately, they have not done so. I thought Payment Depot looked interesting. Interchange + 0% pricing plus $0.10 per transaction at the $69.00 per month plan. It goes down to $0.05 per transaction with the $99.00 plan.