When you are looking for a merchant services provider you will come across rates being promoted such as .005% merchant processing fees. The saying goes if it sounds too good to be true it probably is. That definitely holds true here. Merchant services providers have to pay the merchant processing rates rate visa and mast card charge and with a rate that low the provider is losing at least 1.10% per transaction.
When you see rates that are that low it is a rate to get you to sign a long term contract – a contract that does not prohibit the merchant services provider from raising your rates to very high levels. Protect yourself and ask for interchange plus pricing.
