Cheapest Credit Card Swipe Rates: Top 3 Credit Card Company

The cashless payment method is now happening. Credit card is the most necessary payment system in this century to make purchasing easier. Yet, it could require a fee for every swipe on your transaction. For the same reason, people looking for the cheapest credit card swipe rates.

Regardless, the average rates of each credit card are probably collected by each bank. It depends on each bank referring to credit card policy. Keeping the credit card rates lower would be nice for card owners. However, some credit card companies offer various options to get a lower fee of the credit card swipe rates.

Credit Card Swipe Rates

Every bank or credit card company has its own policy requiring related credit card fees. In addition, credit card swipe rates also would be different for each state. For instance, if in the United States, it costs higher, yet for other countries, it would be far lower. This policy is regarding each country’s economic situation.

The credit card processing fee has another nickname that people will most likely know as the interchange fee. The interchange fee has different rates based on the several factors that occur. At this rate, you seemingly need to look for the cheapest credit card swipe rates.

However, the basic amount of credit card processing cost is around 2-5% for every purchase history. This phenomenon occurred based on the type of credit card you are currently using. For instance, if you use Visa and MasterCard, you probably would get 1,9% up to 2% of card processing rates.

Nevertheless, the rates would be getting higher when you use your card for online shopping. Its cost starts from 2% as the lowest rate for each credit card and increases a bit more than that. The type of card, whether it is a credit or debit, also become one of the consideration of the cost expenses.

Thus, American Express become the most known credit card with high expense. This circumstance occurs since American Express holds a double job. It could be a credit card issuer and a payment card system. At this point, American Express requires a higher fee than the other companies. 

Additionally, not only the type of your card but also the MCC that be used by the merchant. The credit card swipe rates probably be higher if the merchant uses a different MCC from your card name and type.

Cheapest Credit Card Swipe Rates

As mentioned before, credit card processing costs are calculated on several factors. Those factors include the card type, your state, MCC, and company policy. Regardless, choosing the cheapest credit card swipe rates is better if you want to have your own business.

In short, the lower your credit card rate, the minimum cost deduction for every purchase. Even though the cheapest credit card swipe rates probably be various in each state, it somehow helps you to expand your business. Yet, some companies might not be the cheapest ones, but some serve numerous good deals.

Here is a list of several credit card issuers that provide you with the cheapest credit card swipe rates. You could consider applying for credit services with these companies.

1. Chase Payment SolutionsSM

All are probably familiar enough with the most famous multinational bank. It is J. P. Morgan that currently holds several branches in investment expertise. One of the branches under J.P. Morgan is JPMorgan Chase Bank which serves Chase Payment SolutionsSM.

Chase Payment SolutionsSM is expected to be able to build good connections with its merchants and able to serve a good transaction process. Besides that, Chase Payment SolutionsSM serves the flat-rate policy in its pricing system. The policy promises the cheapest credit card swipe rates in the United States.

Here are the details of how the flat-rate pricing policy occurred on Chase.

  • 2.6% with an additional $0.10 per card swipe.
  • 2.9% with an additional $0.15 per e-commerce or online transaction.
  • Up to 3.5% + $0.10 per keyed-in payment.
  • No ETF (Early Termination Fee).
  • Month-to-month subscription.
  • No monthly account cost.
ProCons
Internationally swipe systemFixed pricing information
Certain flat-rate pricing policyLong-term contract needed to terminate free credit card
Large direct issuer
Request interchange-plus cost

2. Helcim

The other cheapest credit card swipe rates option is Helcim. It is a merchant account issuer that offers a full service for small businesses. This one issuer serves you a flexible contract that comes with minimum additional cost. Helcim also includes transparent interchange-plus pricing in its policy.

Aside from serving a basic policy to the merchants, Helcim also has featured several advantageous services. This policy includes two merged payment methods for both online and offline transactions. It has been improving the system by using the QR code payment method used this decade.

Do you want to know about Helcim’s average cost, as it is one of the cheapest credit card swipe rates? Below are the cost details offered by Helcim.

Monthly CostOnline TransactionOffline Transaction
$0 – $50,000INT + 0.50% + $0.25INT + 0.40% + $0.08
$50,001 – $100,000INT + 0.45% + $0.20INT + 0.35% + $0.07
$100,001 – $500,000INT + 0.35% + $0.20INT + 0.25% + $0.07
$500,001 – $1,000,000INT + 0.25% + $0.15INT + 0.20% + $0.06
+$1,000,001INT + 0.15% + $0.15INT + 0.15% + $0.06

Helcim carries numerous pros and cons related to its services. Nevertheless, those aspects still reflect the best services offered by Helcim. Here is its pros and cons:

ProsCons
Interchange-plus requiredUnavailable for high-risk merchants
No ETF (Early Termination Fees)High rates for very small business
No long-term contract
Large-scale account fee admission
Available internationally
Good customer service

3. Stax by Fattmerchant

Stax by Fattmerchant is one of the cheapest credit card swipe rates that offer a transaction through the phone. Additionally, it carries various pros and cons to its offered programs. Almost all of credit cards from some companies could be used to pay the interchange rates. This policy includes MasterCard, Visa, etc.

Interchange fees that applied for Stax are detailed below.

  • 8 cents for flat-free by swiping payment. 
  • 15 cents for transactions through the phone.
  • 1.5% – 3.5% interchange rates average.

Meanwhile, the pros and cons are:

ProsCons
Transparent policyHigher monthly fee
Highly recommended for SMBsUnreachable shelf pricing system
Flat-rate subscription

How to Keep Your Credit Card Swipe Rates Lower?

As wishing to have the cheapest credit card swipe rates, you, as the cardholder, need to make sure your transaction flow. You might not notice if this term influenced your credit card fees. Here are some ways to keep your credit card fees lower when swiping for transactions.

  • Use cash payment to prevent the raises of credit card swipe rates.
  • Better to avoid a flat-rate pricing policy since it probably increases your rates.
  • Minimize the credit card fee by double-checking the additional fees of every transaction.
  • Using ACH (Automated Clearing House) to reduce transaction fees.
  • Shop for different options of offered quotes.
  • Minimize the chargeback fees.
  • Use the in-person payment method to avoid the high rise in credit card rates.

Choose Your Suitable Cheapest Credit Card Swipe Rates!

In this decade, becoming a cashless person is necessary. Especially since the Covid-19 phenomenon raised and prohibited to had skin contact with others. For this reason, people are most likely to use credit cards as their main payment method for purchasing needs.

However, by using a credit card, your expenses probably be higher than usual. Choosing the cheapest credit card swipe rates would help you prevent overestimations of your expenses. Yet, among those three best credit card issuers, which one suits your need?

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