Best 2022 Guide to Credit Card Processing for Nonprofits

Credit Card Processing for Nonprofits

Best 2022 Guide to Credit Card Processing for Nonprofits

Many organizations want to accept credit card donations or payments for fundraising auctions online but don't know how. You can accept payments online in one of two ways: through a nonprofit credit card processing service, or by opening your own merchant account. 

Why Nonprofits Need Reliable Payment Processing

Nonprofit and charitable organizations rely on monetary donations from their supporters to further their missions. While a nonprofit organization could theoretically rely on cash and paper checks for donations, much like a retail operation, this strategy would drastically limit the amount of money it will receive. The ability to accept non-cash donations is crucial. 

The Federal Reserve Bank of San Francisco found in its 2021 Findings from the Diary of Consumer Payment Choice that cash use accounted for 19 percent of all payments. With the use of cash dwindling as a payment preference, debit and credit cards and ACH take over as the predominant payment methods. In recent years, consumer spending habits have drastically changed--primarily moving from in-person to online. If a nonprofit organization is unable to accept credit or debit card transactions or ACH transactions, it severely restricts its fundraising potential, and by extension, its ability to carry out its mission to their nonprofit clients. 

There are a number of benefits that accompany utilizing a payment processor and donation button with an online donation form on your website, namely an increased opportunity to accept larger donations and monetary gifts and the ability to attract more potential donors--even international donations. Just like for-profit businesses, every nonprofit can also benefit from a reliable payment processing system to accept online transactions and credit card payments.  

Common Terms to Understand When Considering a System for Online Payments

Before exploring payment processing and credit card donations, it will be helpful to understand common terms associated with collecting online donations and credit card processors. 

A credit card payment processor allows nonprofit organizations to process credit card transactions online. The processing company then takes a small percentage of each transaction as compensation for its services. A number of credit card processing providers exist; be sure to inquire if they offer specific rates for nonprofits or offer nonprofit discounts. 

A merchant account is an account that you open with a bank to accept credit card payments. In addition to online payments, if an organization wants to accept offline donations via credit cards, a merchant account is used alongside a hand-held credit card reader.  

A card association is a group of banks that sets the terms for all credit card transactions. Some examples are credit card companies Visa, Mastercard and American Express. 

ACH debit payments allow donors to give directly from their bank account. This is done by using an e-check, which is a payment that goes through the automated clearing house (ACH). 

A third-party processor is a provider that allows a business to accept payments without opening its own merchant account. Typically, nonprofits that expect a low volume of transactions may want a third-party processor. 

A payment gateway is technology that securely captures and encrypts sensitive credit card details from a donor and transmits that data to a payment processor to complete a transaction.  

A payment aggregator is a third-party payment provider that uses one large merchant account to process payments for smaller businesses and donations for nonprofits. 

How does a Merchant Account work?

After a nonprofit has secured a merchant account, it can accept card payments. It starts when a donor elects to give. They amount they select is relayed from the card processor to the credit card network (such as Visa or MasterCard). The credit card network then readies the transaction to the issuing bank, which then approves the transaction and allows funds to be sent to the merchant account. From there, the nonprofit can transfer the funds from their merchant account to its bank account. The entire process typically takes a few business days or up to a few weeks to complete the transaction.  

A nonprofit should always compare merchant account providers, particularly for pricing.  

How does a credit card processing service work?

Similar to how a merchant account works, it all begins when someone chooses to give a monetary gift. The donor begins the process by using an electronic device, a computer, smartphone or tablet. This triggers the payment processor to send the transaction through a payment gateway which verifies the validity of the card and checks if the donor is a human (not a robot) and the card is not fraudulent. When verified, from there, the payment gateway begins the transfer of funds, and the credit card company sends the donation to the merchant account. A nonprofit can later retrieve it's funds from the merchant account. 

What type of payments should my nonprofit accept?

Most nonprofits organizations accept a variety of donation types. To maximize the potential for donations, nonprofits are encouraged to accept a number of payment options in addition to cash and checks: 

Payments by Card: These donations include those made via credit card or debit card. Be sure to consider if your nonprofit will accept all major credit cards (Visa, MasterCard, Discover and American Express) or only some. Keep in mind, fees will vary based on the type of credit card. 

ACH Debit payments: Payments made via ACH debit are particularly useful for donors who want to set-up recurring donations. Donors must submit their bank account and routing numbers so funds can be directly transferred from their bank account to a nonprofits bank account. In addition to the ease and convenience of setting up recurring donations, ACH debits also allow nonprofits to avoid the credit card processing fees that typically accompany card payments. A payment processor may only charge a flat fee for an ACH debit. 

Additional Tools & Features of Online Payment Processors for Nonprofits

Before exploring your processor options, it will be helpful to know what features you need from a card processor. Consider the ways you primarily hope to accept donations, for example at in-person fundraisers and events, online or through memberships. Know your budget as well as the anticipated volume of donations your nonprofit expects to receive on a monthly basis.   

The number one reason that motivates charitable organizations to seek a payment processing company is to give their donors payment options--the ability to donate via major credit cards, debit card and ACH payment type. Beyond acting as a credit card processor and online donation tool, an online payment processing system also offers a number of other valuable features: 

Accept Donations Online: With a reliable payment processor, it’s easier than ever before to accept donations online right on your website. With a "donate now" option on your website, you can easily collect immediate payments from anyone who wants to support your organization. 

Set-up Recurring Donations: Setting up recurring payments usually involves using an automated payment system through banks. Nonprofits can use payment processing services to accept regular donations via direct deposit (also called ACH) instead of credit cards. A recurring donation feature can turn one-time or annual donations into ongoing, repeat gifts and impact donor retention rates. 

Ecommerce: If your non-profit sells items online to support its cause, such as t-shirts or mugs, payment processors may be able to help you create an online store. 

Sell tickets for nonprofit events: Event ticketing platforms allow non-profits to more easily sell event tickets and track event registration, enabling eventgoers to buy them right away when they're announced online. 

Collect membership fees: For nonprofits who rely on memberships to fuel their missions, online payment processors can seamlessly facilitate collecting membership fees. 

Other Mobile Giving Options: Your nonprofit may also want to look into text-to-give donations and other mobile giving options, particularly if you want to appeal to or expand to a younger donor base. The goal is to make giving as easy as possible. 

If donors can do all of these things from the convenience of their personal electronic devices, they’ll be more likely to follow through with their donations and will positively affect donor retention rates. 

With a thorough understanding of your nonprofits needs, you're ready to compare options. 

How to Choose the Best Payment Processor for a Nonprofit

There are a number of online payment processing options, but which are best designed for nonprofits to accept various types of donations? Each comes with its own set of pros and cons that you’ll want to carefully consider as they relate to your organization. 

Most, if not all charitable organizations are challenged to keep costs low so it's important to identify an affordable payment processor. Be sure to investigate various fees, including platform fee, transaction fees, and termination fees, and to explore a nonprofit discount. In addition to cost, ease of use and customer service should also be investigated. 

Regardless of size, small or larger nonprofits should consider these common questions around security, convenience and affordability when considering a credit card processor: 

The Importance of Nonprofit PCI Compliance

If your organization accepts donations from credit cards, it's required to abide by PCI standards. This set of security standards helps ensure that an organization has done its due diligence to protect the sensitive nature of electronic transactions and donor information. Online donations are not automatically secure. Nonprofits must abide by these rules to help ensure that payment data is secure and cardholder data is kept unavailable from cybercriminals. 

PCI compliance is rigorous and a necessary component of a nonprofits overall security plan. Maintaining compliance is a signal to your donors that you are taking the necessary steps to secure their information and prevent fraud. Noncompliance could make it very difficult to retain or attract donor, which will have a direct impact on a nonprofit's ability to perform its mission. Additionally, noncompliance can result in hefty fines starting at $5,000. 

PCI compliance varies by organization and number of transactions processed each year. 

The good news is, most online payment processors are PCI compliant. Nevertheless, when conducting the research to select a processor, it's highly recommended that you review PCI compliance as part of the vetting process. You may want to ask the processor you select if there' are any additional things your nonprofit should or should not do to contribute to PCI compliance. They may suggest some best practices, such as don't store account verification data and don't collect or send card information via email. 

In addition to PCI compliance, quality processors will also have the following security features: 

These added security features and fraud prevention measures will provide your donors with additional peace of mind and may even contribute to their ongoing support. Ultimately, the responsibility to be PCI compliant lands on the nonprofit. 

Nonprofit Organizations and Credit Card Processing Fees

The only types of donations that are not subject to processing or transactions fees are cash and checks. It's common for payment processors to take a small portion of each transaction as compensation for the ability to accept electronic payment. So, if your nonprofit chooses to accept credit card payments from your donors, expect transaction fees. Most processors charge between 2-3% per transaction, but this varies based on processor and credit card. It's always worth asking a processor for a special rate, reduced fee or waived fee for eligible nonprofits.  

Most businesses simply incur transaction fees as a cost of doing business, but some nonprofit organizations have found relief from fees by asking their donors to pay the fees associated with giving with cards so the full donation amount will truly benefit their mission.  

Many donors are unaware of credit card fees for electronic donations. When asked, many are happy to contribute an additional, small amount to cover the cost of the transaction. Keep in mind, these donors have already invested in the nonprofit because they believe in the mission. Simply making it optional for them to cover the additional nominal fee could cover a large portion of a nonprofits total transaction fees. Many nonprofits will ask donors to consider covering the transaction fee right on the online donation form. 

Nonprofit Donor Software and Payment Processors 

Many established nonprofits utilize specific donor software to keep track of donor information in a database. These databases often include a variety of fundraising tools to help organizations improve donor engagement and fundraising opportunities, in addition to storing contact information. They can also keep track of donor giving habits and history, interests, preferred communication style, and more. For example, fundraising software may keep track of which appeals for donations have resulted in donations, how a donation was received, the amount of the donation, and if the donor would like to be thanked via a phone call, mail or email, or remain anonymous. 

If your nonprofit relies on software like this, it may be beneficial to integrate your donation software with a payment processor. An integration like this will save time and effort and eliminate manual data transfer.  

Accepting Credit Card Donations is Easy with BNG Payments

Selecting a payment processor for your nonprofit is a big decision. BNG Payments can help you raise money for your cause with no monthly fees and low cost-per-transaction. Whether your nonprofit is a small, local organization or a national association, we make it easy to accept gifts in a number of ways and offer donation kiosks, credit card and ACH Processing, online giving, recurring donations, text giving, and more.  

Contact BNG Payments to learn how credit card processing can be easily integrated into your fundraising efforts. 


A Guide to Wireless Credit Card Payment Processing

Wireless Credit Card Processing

A Guide to Wireless Credit Card Payment Processing

Portable card machines are designed to operate via built-in Bluetooth capability, and connect wirelessly through the internet. Once a customer's payment is read by one of these terminals it will then contact their bank in order verify if there are enough funds available for purchase before complete transaction processing.

As more and more businesses explore operations outside of fixed locations, wireless payment processing has gained popularity in recent years.  

Wireless processing is exactly as it sounds; it allows the payment terminal to wirelessly connect to the payment processor each time a card is swiped. Wireless processing uses a Wi-Fi connection or cellular data connection to process payments. This means the merchant doesn't need a landline connection to complete a transaction.  

A secure transaction is complete within a matter of seconds (depending on WiFi speed or wireless coverage) because a wireless terminal communicates between the business, the payment processor, cardholder issuing bank, and the business’ acquiring bank. A secure internet connection from Wi-Fi or a cellular data connection is required instead of a phone line or network. 

How Wireless Credit Card Processing Works

Wireless processing works in much the same way as a traditional fixed-location terminal. 

  1. The merchant slides a customer’s card through a wireless machine and enters the sale amount. Both the card and sale information are securely sent to the merchant services provider. 
  2. The merchant services provider then sends the sale information and credit or debit card details to the customer’s issuing bank where the card is verified. The issuing bank also confirms if funds are available. 
  3. The issuing bank either approves or declines a purchase and communicates with the merchant services provider appropriately. 
  4. Usually in a matter of seconds, the machine then receives transaction information back from the issuing bank. 
  5. The retailer or merchant settles the batches of transactions made from the terminal at the end of the day. After “settling,” the funds are transferred from the issuing bank to the merchant’s account.  

The Differences between Mobile and Wireless Credit Card Processing

Business owners should be cautioned not to confuse mobile processing with wireless capabilities. Both mobile and wireless credit card processing provide a business with location flexibility, but there are differences between wireless and mobile. With either of these options a business essentially has a portable credit card machine; the payment and checkout experience is no longer tied to a fixed location. This is an attractive feature for business owners and consumers alike. While the credit card machine technology sounds similar there are distinct differences. 

Mobile credit card processing utilizes a business owner or employee's mobile device, such as a cell phone or tablet, and an app from the payment processor. A mobile credit card machine accepts mobile payments and sends customer receipts via email or text. A piece of hardware can even attach to a smart phone or mobile device so a retail business can accommodate a wide variety of credit card processing types including chip cards or credit or debit card transactions with a magstripe card reader.  

Wireless processing, on the other hand, involves more. It has the same features as a traditional processor, only it isn't connected with cords. A wireless terminal can also print receipts, and often comes with a credit card reader with a keypad or display screen. Wireless processing is ideal for many business types that do not have fixed locations, but need a credit card reader, like delivery or repair services. These wireless terminals still allow mobile merchants to accept a wide range of payment types, including traditional credit or debit card payments.  

Benefits of Wireless Processing

Without the constraints of cords, payment processing can truly go anywhere. Wireless credit card processing lets small businesses operate anywhere there is cellular coverage with a handheld wireless device so they can meet the needs of their customers who increasingly prefer credit or debit card transactions over cash. The obvious benefit for a mobile merchant with this method of processing is the ability to collect payment immediately with a wireless credit card machine, rather than waiting several business days or weeks after sending an invoice. 

Wireless payment technology maintains security standards, so merchants can safely process transactions on the go. Additionally, this type of technology results in faster processing times. A mobile merchant customer base and staff appreciate a quicker checkout process, and the convenience of the receipt printer, which results in a better overall customer experience. Businesses who spend much of their hours outside of a physical location, even larger businesses, benefit from an affordable device that truly facilitates operating as a mobile credit card terminal with all the capabilities of a brick-and-mortar shop.  

In addition to providing customers with the payment options they prefer, the efficiencies and convenience offered by wireless capabilities can be subtle differentiators for businesses in today's highly competitive retail environment.  

Choosing a Wireless Credit Card Processing Machine 

Due to the variety of credit card machine options and payment processing providers, merchants should closely evaluate the differences, pros and cons of each. Business merchants should consider several factors, including price, customer service expectations, hardware, contracts and more, to gauge if wireless processing will benefit their mobile business: 

How to Compare Credit Card Processing Companies

How to Compare Credit Card Processing Companies

When it comes to maximizing sales potential, honoring credit cards should be at the top of the list to accomplish sales goals. As of 2021, credit cards are the most common payment option, making up 38% of all customer transactions.     

To run credit cards and debit cards, you will need specific software, hardware, and network connections from a payment processor and merchant services provider. Today, many payment providers have their own models and pricing, and unfortunately, not all companies are forthright and honest. Many companies disguise their fees or limit their offerings to save on costs. 

The better the processor, the more transparent their pricing will be because they have nothing to hide. And the more services they offer, the better they work as a partner toward your continued growth. But there are many other questions to ask to ensure you get both benefits.   

To help you with your shopping, here are some essential traits you should look for when selecting your provider. 

Do the companies offer EMV and PCI compliance?  

We're starting the list with the most critical detail to spot when shopping: data security. Data security is crucial to protect your business and your customers in today's market, and it will grow even more important as mobile and online payment capabilities increase. The more you are protected, the smoother your business will run and the less risk you will incur, helping you maintain low transaction fees.   

EMV Compliance consists of machines that support EMV technology, such as chip cards, smart payment processing, and PIN inputting. This technology is safer than swiping and prevents other reading devices from grabbing your information. EMV payment systems are the go-to fraud prevention method and will remain so for the foreseeable future. 

PCI compliance is a set of guidelines for data storage and network security that credit card companies require from businesses to protect customer information and prevent theft by employees or online hackers. You must adhere to these guidelines as a business or face denied service by the companies or higher fees due to your more elevated risk. 

If a provider offers PCI compliance, look for fees for PCI compliance, PCI non-compliance, and PCI regulatory fees. The rates may be high, affecting which provider you choose.   

Do the companies offer additional fraud protections? 

Does the company have additional fraud measures? If so, what are they? The more protection they offer, the more you are protected. 

What transaction fees do they charge?  

Fees are a crucial part of a provider's profit—so much so that some companies hide fees, and they hide them well. Some fees are also purposefully confusing. In both cases, the company hopes you won't ask about them in detail. 

Some fees are per transaction, while others bill monthly or annually. They have names like "regulatory fees," "compliance fees," and "statement fees." Be sure to ask about every type of fee and their average cost. 

Do they offer different pricing options? They Should. 

Several pricing options exist, including tiered, flat-rate and interchange-plus pricing. Look for a processor that offers a variety of pricing options. No one pricing option is a one-size-fits-all match for all business types. No one pricing option is necessarily better than another. It will all depend on your specific business needs. Investigate each pricing option thoroughly for your specific business. 

What are the rates for each transaction type? 

Most companies charge rates for each type of transaction based on their risk of fraud. For example, card-present transactions are the cheapest form because they carry the least risk. 

Today, orders can be placed within a store, on the road, via an online shopping card or e-commerce website, and each method has its risks. Rates also change based on the card type (VISA, MasterCard, American Express), the card level, and the types of goods and services you offer. 

Understanding the rates for the most common forms of payment you expect goes a long way in maximizing your profits.  

Setup Fees and Monthly or Annual Fees 

It’s common for processors to include installation and setup fees. You may also encounter annual or monthly fees, compliance fees, and statement fees. Thoroughly investigate each processor and ask specifically about its fees so you’re not caught off guard. If transaction rates seem too good to be true, dig deep into their remaining fees to spot how they make up the difference.  

How long do payouts take?  

In most cases, processors will provide next-day funding or second-day funding, the latter being the default. Knowing how quickly you will get paid can be essential to running your business smoothly. 

What additional services do they offer?  

Having additional services can make your job of owning and managing a business easier, even if you accrue charges for them. After all, your time is valuable, too.  

Is there a limit to how much I can charge?  

Processors can limit the quantity and size of orders—particularly when you are just starting. Limits may be expressed as a dollar limit per transaction or per month or as a flat quantity limit for a given period. Choose a provider that offers you as much flexibility as you need. You may also ask your processor if they would be willing to change any given rules. You shouldn't be penalized for success. 

How many forms of payment do the companies support?  

The more forms of payment a company honors increases the chance of a sale and lets you accept payment methods that best suit your business model. Inquire if the company honors all major credit cards and services, such as Apple Pay or Google Pay. If the company offers ACH payments, even better. ACH helps you maintain ongoing, monthly payments directly from the customer's account. 

Can my rates change?  

Yes. It may surprise you to learn nearly every processor reserves the right to change rates at any time—even those with a flat-rate posted on their website. You may consider asking a processor when rate changes are most likely. Be sure to carefully review contracts and pay attention to the small print.  

Are there cancellation and early termination fees?  

Some processors charge cancellation or early termination fees, while others don’t. Be sure to ask so you’re not caught unaware.  

Do I have options of renting and buying terminals and software? 

You may decide to rent for a lower out-of-pocket cost or buy for improved long-term savings. At BNG Payments we offer both options making it easy for you to select the option that's right for you. 

Shopping tip: When reviewing a provider's tools, ensure that the terminals work with other providers; otherwise, you may be locked into one provider or forced to pay for new terminals. If you need an online shopping cart, be sure the company's software is not proprietary.    

What type of customer support is available?  

As you consider processors, be sure to ask about customer support. When you need help, when and how is support available? Choose a processor with a dedicated support team. BNG Payments is known for exceptional customer care through its U.S.-based customer support. 

Shop around for a best-fit provider. 

Asking the above questions will lead you to quality providers, and the more you shop, the better you can negotiate a better rate while meeting the specific payment needs of your business. 

Be sure to include BNG Payments on your list of providers. Whether you're a brick-and-mortar shop, e-commerce company or a combination of the two, need mobile devices or stationary terminals, we have technology to meet the needs of your business in the most secure way possible. BNG Payments offers industry-leading technology to secure your transactions and simplify PCI compliance.   

Connect with BNG Payments to learn more

How to Mitigate Credit Card Payment Risks 

How to Mitigate Credit Card Payment Risks 

Credit cards are the number one form of payment with businesses today, and with more businesses offering online purchasing each year, the future of credit cards remains bright. At the same time, credit card fraud remains a serious issue. According to the Federal Trade Commission, 4.7 million reports of fraud were recorded in 2020 alone. The good news is small business owners can take several steps to protect themselves from credit card payment risks. Read on to find out how. 

How Does Credit Card Fraud Happen?

Fraud comes in different forms: 

As a small business owner, you are especially vulnerable to these threats. Small businesses typically have fewer data protections while also housing financial data from numerous customers.    

There are ways you can prevent and minimize attacks as a small business owner. Here's how. 

Ensure Your Business is PCI Compliant 

You've probably already heard a lot about the Payment Card Industry Data Security Standard (PCI DSS), commonly known as PCI. First introduced in 2006, it's a popular standard used by merchants to protect cardholder data. In short, all companies that process, store or transmit credit card information must comply with the PCI DSS. They may be banned from honoring credit card transactions or hit with painful service charges if they don't. 

Making your online store PCI compliant is essential for protecting your customers and business from credit card payment risks. To do so, you need to ensure that all of your web pages are encrypted and that you have a secure checkout process. 

Your payment processor can assist you with PCI compliance.  

Use a Secure Payment Gateway 

A payment gateway is a secure, online portal that reads the card information and forwards it to your merchant acquiring bank—the bank account that receives credit card payments—so the data can be sent to your payment processor.   

A payment gateway helps with card payments from card-present to card-not-present and online purchases. It provides an added level of security during transmission. If someone steals your merchant account information, you will be able to flag the purchase as fraudulent before the money leaves your merchant account. 

When choosing a payment gateway, be sure to look for one with PCI compliance to ensure that all your customers' credit card information is sufficiently secured. 

Tips When Running Card-Present Transactions  

All card payment types are ranked by their risk, and card-present transactions are characterized as having the least risk. Purchases made when your customer and their payment card are present are less likely to be disputed than a payment made remotely. Additionally, they are less likely to be fraudulent. 

Still, issues happen. An individual may have stolen the card or dispute the charge later after reviewing their credit card bill. Follow the practices below to minimize the risk of disputes when making card-present transactions. 

Implement strong customer authentication methods 

Require that customers provide more than just their credit card information when making a purchase. Request information like their driver's license, name, address, and date of birth to ensure only the authorized user is making the purchase. 

If the purchase requires shipping, see if the billing address, driver's license address, and shipping address are the same. If not, inquire why. 

Use EMV Terminals 

EMV stands for Europay, Mastercard, and Visa. This technology consists of security chips in credit cards, debit cards, and prepaid cards that store far more detailed information than a magnetic stripe card and are extremely hard to clone. An EMV card can be inserted or tapped onto a reader without the threat of another device picking up credit card data for fraudulent means. Running orders through EMV cards almost always requires the customer's original card, virtually eliminating the risk of a fraudulent card. 

Due to the effectiveness of EMV technology, the credit card industry has shifted merchant liability. Now when merchants run orders through traditional swipe technology, they are automatically liable for fraud. 

Card-Not-Present Transactions 

If you accept orders over the phone or have online purchasing capability through a virtual terminal or an e-commerce website, the customer won't be physically present in front of you. This is a more convenient way for customers to buy, but verifying the customer is the actual customer is more complicated.   

Here are some steps you can follow to minimize the risk of payment disputes. 

Obtain All the Card Information 

During a phone call, ask for all details like the name on the card, billing address, expiration date, and CVV code. 

Get Delivery Confirmation 

As mentioned earlier, inquire if a customer's billing address and shipping address are not the same. Additionally, require that the customer signs for delivery. 

Get Proof of Service 

Have your customer thoroughly review and sign a work order for any services you provide and keep the signed paperwork for future reference. Additionally, teach our teams to spot signs of fraudulent behavior and follow concrete steps when they suspect someone is trying to use a stolen credit card. 

Post Your Credit Card Policies 

Provide an online resource portal where your employees can reference your credit card policy at any time. 

Create Secure Passwords and Two-Factor Authentication 

Advances in technology make it easier than ever for criminals to get their hands on credit card data. Ensure you and your employees use complex passwords and regularly change them—as frequently as every few months. Pair passwords to critical logins with two-factor authentication.  

For online purchases, confirm the person making a purchase is not a bot and is who they claim to be. 

Keep Your Computer Systems Up to Date  

Hackers are constantly working on new methods of stealing credit card information from point-of-sale systems. Ensure you have the latest security patches installed on your computer and all anti-virus software is updated. Make it a habit to regularly evaluate your virus protection and stay up on the latest fixes. This work may be outside of your interest level and expertise, but a managed service provider (MSP) and payment processor can help. 

Encrypt and Truncate Billing Data 

Prevent credit card information from being read in your billing software, data systems, and paper copies by using encryption and truncation. Encryption conceals credit card information using mathematical techniques while requiring a password key to decrypt the data. 

Truncation is an FTC-required strategy where the credit card information shown on receipts is limited. For example, it may exclude the first six and last four digits of the credit card number. 

Your payment processor or managed services provider can ensure you have each of these solutions in place. 

Educate your Employees about Credit Card Payment Risks 

Employees are ideal pathways for data thieves to collect customer data, and this also makes your employees your first line of defense against credit card payment risks. Educate them about credit card fraud and how to protect your business. 

You can start by creating a policy for handling credit card information. This policy should include storing, processing, and using cardholder data. You should also hold regular training sessions for your employees, updating them on new security risks and best practices. 

Restrict Access 

Restricting access is another way to prevent data thieves from gaining customer data through your employees. Limiting access prevents data from accidentally falling into the wrong hands and prevents direct theft from your employees. Restricting access to only you or select members of your team also keeps you aware of which employees requested any needed client data and when.   

Keep Paper Data Under Lock and Key 

If you have files with customer data, keep them inside lockable file folders. These papers can be easily stolen, lost, or mistakenly discarded, only to fall into the wrong hands.   

How to Reduce Fraudulent Claims 

Credit card fraud happens, but misunderstandings also lead to credit card fraud claims. Here are some ways you can prevent issues with clients. 

Gain Written Permission for Recurring Payments 

Require cardholder permission to charge for goods and services regularly. Make sure to obtain their signature on an official document that clearly lays out information, such as the transaction amount, charge frequency, and contract duration. 

Add Your Contact Information to Credit Card Statements 

Include your business phone number and address on any receipts, so the customer calls you first before disputing a charge. 

Publish a Refund Policy 

Provide your customer with an explicit cancellation and refund policy on the receipt so they know when to dispute a charge or not. 

Make your Business Name Recognizable 

An easily recognizable business name on a customer's credit card statement prevents questions and fraud claims. If your business name is different or long (more than 35 characters), add your location and product description. 

Have Clear Terms and Conditions on a Signed Invoice or Receipt 

Unfortunately, customers sometimes dispute charges and claim fraud to get out of paying. Having easily viewable terms and conditions on a receipt reminds customers of the legal agreements during the purchase and provides valuable evidence when disputes are filed.

Use a Reliable Payment Processor and eCommerce Provider 

A quality payment processor joins PCI compliance with advanced protection programs. Look for automatic tools like machine learning and AI to bring powerful, ongoing protection. Additionally, look for e-commerce platform providers that offer integrated fraud solutions. 

BNG Payments: Your Processing Expert  

Following the above tips will help you protect yourself from credit card payment risks. BNG Payments can also help. We are a reliable payment processor with a solid reputation in the industry and know the best payment systems, software, and strategies to protect your customer data. We offer the latest EMV tools and protections, and our payment system can also simplify PCI compliance. We can even customize our offering to fit your current systems and way of work. 

Contact BNG Payments to learn more.

Why Have a Processing Fee: The 8 Keys To Making Sense of Our Fees

Processing fees are a standard business practice, but it can be challenging to understand their reasoning. Some people believe processing fees are too high and should be eliminated. Others feel that they're necessary for the bank to cover their costs. Have you ever wondered why credit card companies charge a processing fee? It seems like an extra cost that doesn't benefit the cardholder. But, like most things in life, there is a method to the madness. Here are the eight keys to making sense of our fees. 

What Is a Credit Card Processing Fee 

A credit card processing fee is a charge added to each transaction processed through your merchant account. If you have a business that sells goods or services, this might sound familiar. In the case of online transactions, it's automatically included in the total price if you don't opt-out. It covers things like equipment and software for accepting payments from customers, third-party fees associated with the payment process, and why it exists in the first place. 

What Do You Mean By Transaction? 

A transaction is anything that involves you receiving money for something. This could be a sale of goods or services at your storefront location, online sales through an eCommerce website like Amazon or eBay, phone transactions, or even checks. There are many different ways to process payments. Each has its associated fees because credit card companies have to pay their employees to handle these individual tasks. 

The 8 Secrets to Understanding Credit Card Fees 

It's essential to understand why you're paying a fee in the first place, so here are the top ten secrets to understanding credit card fees. 

  1. The fee helps the bank maintain PCI-compliance standards: PCI refers to the Payment Card Industry. Banks are required by law every quarter to test their systems for security vulnerabilities. The processing fee pays third parties who perform this service to protect customers from identity theft or credit card fraud. 
  1. It helps cover costs associated with providing customer service: Even if you never use your credit card, purchasing involves risks like identity theft or fraud. That's why banks offer 24/hour customer support as a way to help customers should an issue arise when processing any payment. 
  1. The fee also helps cover costs associated with cardholder benefits: Rewards programs, travel insurance, and fraud protection are just a few of the benefits of using a credit card. But these services cost money to provide, so the processing fee goes toward funding them. 
  1. It helps the bank cover costs by providing a card: Even when you don't use your credit card, it has monthly fees for paying things like 24/hour customer service and fraud protection. Banks also have minimum spending requirements to waive annual fees during the first year of usage. 
  1. It pays for merchant account equipment and software: A merchant account must process payments from customers. This comes with equipment used for accepting credit card transactions. A processing fee covers the cost of these items and the software needed to run them. 
  1. The fee helps the bank offset risks associated with lending: The goal of any business is to make money. Those that provide credit cards are no exception, even though the fees associated with them are often hidden from customers for this exact reason. When you pay an annual fee or interest on your balance, it's used as a way to cover losses incurred by lending money out to others who don't always pay it back. 
  1. The fee allows the credit card company to profit: This is probably the most obvious reason. Credit card companies are businesses, and like any other business, they need to turn a profit to stay in operation. The processing fee helps them do just that. 
  1. The fee helps cover costs associated with chargebacks: A chargeback is when a customer disputes a purchase they made and requests their money back. It can happen for many reasons, such as if they never received the product or defective. The processing fee goes toward paying for employees to handle chargebacks and why they happen in the first place. 

There you have it. Eight reasons why the processing fee is necessary for credit card companies (and banks) to cover the costs associated with providing this service. Keep in mind that not all fees are bad, and in some cases, they're worth it. Just be sure to read the fine print before signing up for a new credit card. 

FAQs About Credit Card Processing Fees 

Here are some of the most frequently asked questions about credit card processing fees: 

Is there a processing fee for debit cards? 

Typically, no. Since merchants and banks don't need to cover the costs associated with lending money out for credit card transactions, debit card fees are typically much lower than their counterparts. 

What about using a credit card abroad? 

In most cases, you can expect to pay anything from an additional three percent to five percent on top of whatever transaction amount is being charged by the overseas bank or retailer for processing foreign currency payments. But why does it cost so much? This is because most credit cards are issued in the United States. That means that they have to pay a conversion fee for every foreign transaction before charging your card. 

Is there an extra charge when I purchase something online? 

Not always. In some cases, you can expect your bank or retailer to add their processing fees on top of whatever amount is being charged by the credit card company. However, this isn't always the case. Many companies have now eliminated these fees to remain competitive and attract more customers. 

Is there a limit to how much I can spend? 

Yes. Most banks will waive their annual processing fee if you meet a specific spending requirement within a given year. But if you don't meet this threshold, they'll usually charge anywhere to continue using their service. 

How can I avoid paying a processing fee? 

There is no definitive answer to this question. However, you can avoid paying a processing fee by using your debit card instead of your credit card, shopping at retailers that don't charge an extra fee for card payments or looking into a credit card that doesn't have an annual fee. 


The most apparent reason why credit card companies charge fees is that they need to turn a profit and the processing fee helps them do just that. Other causes include helping cover costs associated with chargebacks or providing this service in general. 

Each of these keys provides a different perspective on the fees we charge and why they are essential. The most crucial key is to understand how credit card processing works so that you can decide if our rates make sense for your business. 

We hope this blog post has given you a better understanding of our credit card processing fees and how we work to make sense of them. If you have any questions about the charges imposed by BNG Payments, please don't hesitate to reach out. We are happy to help. 

How To Calculate Total Credit Card Processing Fees

Finding your effective rate is the first step. First, get your credit card statement. Then divide the total processing fee by the percentage of monthly sales paid by credit cards. The outcome is your effective rate. 


Calculate Credit Processing: Mistakes Need To Avoid 

Many people don't think about the cost of credit card processing. It's one thing to know that you'll need a merchant account and an online payments solution. Still, it's another to understand what each service costs and how they can impact your decision. 

The cost of credit card processing can be high, and it is crucial to understand the different charges that apply. This mainly includes the cost of processing payments, which is often a misconception for business owners. It is essential to calculate the costs of these fees to make the right decision about what type of payment acceptance you want your business to offer. This article will discuss how you calculate credit card processing fees and share some common mistakes businesses make when calculating their expenses. 

How Are Credit Fees Calculated? 

Credit card companies calculate fees in a variety of ways. Still, typically they are based on either the total balance or the average daily balance. 

The total credit card balance is the sum of all transactions applied to a particular credit card account during a billing cycle. This figure includes revolvement balances or the total amount of money borrowed on a revolving basis, consisting of cash advances, balance transfers, convenience checks, and unpaid finance charges. 

The average daily balance is calculated by dividing the total credit card balance by the number of days in the billing cycle. This figure takes into account the fact that some days there may be more transactions than others. The calculation gives a more accurate representation of how much money is owed on a day-by-day basis. 

What Are the Common Factors That Affect Your Credit? 

Many factors can affect your credit score. Some of these factors are common, while others are specific to each individual. The knowledge of what can hurt or help your credit score will give you a good idea of what to do and what not to do to maintain healthy credit. 

Here are some of the most common factors that can impact your credit score: 

These are some of the most common factors affecting your credit score. Keep in mind that each individual's credit situation is different, so it's essential to review your credit report and credit score regularly to see where you can make improvements. 

What Are the Common Credit Processing Mistakes? 

Although having credit processing in place is vital to the stability of your business, you need to ensure that it's set up correctly. Find out some of the most common mistakes made when setting up credit processing systems. 

These are a few mistakes that are commonly made when it comes to credit processing: 


An excellent way to avoid mistakes is by learning how to calculate credit processing. As you've seen, there are many different types of credit processing that all have their own rules for calculating rates and fees, making it challenging to stay on top of the details. By understanding the basics and taking the time to learn about your specific processor, you can make sure that you get the best deal possible. 

You may be wondering how much your credit card processing will cost you. This is difficult to answer without knowing too many factors, but we can help. If you need help with this credit processing calculation, let us know at BNG Payments. We offer benefits from an expert opinion and years of experience in the credit card processing industry. 

Tiered Pricing Merchant Accounts for Credit Cards

A bank account allows businesses to accept payments by credit or debit card. The account is set up through a payment processing company, an intermediary between the bank and the business.  

It is a pricing model used by payment processors in which rates are based on the total monthly sales volume processed through the account. This model offers the business the opportunity to negotiate what rate they are willing to pay for credit card processing. 

What Are Tiered Pricing Merchant Accounts? 

Tiered pricing is a fee structure for credit card processing that determines how merchants pay processing companies for each transaction. The three tiers are qualified, mid-qualified, and non-qualified. Each tier has a different rate that the credit card processing company charges the merchant for each transaction. 

Tiered pricing is the different rates applied to merchants based on their average monthly processing volume. Tiered pricing merchant accounts allow you to choose from three or more tiers with corresponding card swipe fees: the higher your average monthly volume, the lower your rate for each interchange category. 


How Does It Work? 

Tiered pricing is a strategy used to set a price per unit within a range. Tiered pricing works by lowering the price per unit after each quantity within a tier has been sold. It applies to merchants who process a large volume of transactions in which processing costs are reduced with higher volumes. 

A tiered pricing merchant account usually charges a fixed rate for each transaction, which means that the more transactions you process, the more money it costs. If you have a high monthly credit card processing volume, which makes up a large portion of your business, then tiered pricing could save you money. 

This is how Tiered Pricing Merchant Accounts work: 

What Do You Need To Know About Tiered Pricing Merchant Accounts for Credit Cards? 

Merchant account providers use different pricing models, and one of the most common is tiered pricing. This model offers a few different pricing levels for the merchant to choose from, each with its own set of benefits and drawbacks. 

These are the things you need to know about tiered pricing merchant accounts for credit cards: 

Any Alternatives 

These are other types of merchant accounts to process credit cards: 




This account is a great way to get the most out of your business while ensuring you have all the options available. The different tiers give merchants more flexibility and control over their payment processing needs, which is good for both them and their customers because it ensures they'll always be able to find an account that meets their requirements. 

One of the most important decisions you'll make when setting up your new business is which type of credit card merchant account to get. There are many options for tiered pricing, but one thing remains true across every option available. You need a reliable and trusted partner who can provide you with knowledgeable customer service. BNG Payments can help understand what type of account would be best for your business needs. We also offer competitive rates to never pay too much in fees. Contact us today for more information. 

Master Your Credit Card Merchant Account With Flat Rate Pricing

A credit card merchant account is a contract between you and your bank that allows you to accept credit cards for goods or services. It's essential to have a merchant account that offers flat-rate pricing, which means you're charged a single, fixed percentage fee for every transaction. This type of pricing is ideal for small businesses because it eliminates the need to keep track of different rates for each credit card type. 

With a flat-rate pricing merchant account, you are charged a single fee for each transaction, regardless of the amount. This makes budgeting much easier, as you know what your costs will be from month to month. This blog post will discuss how flat rates can help save your business money and time. 

What Is a Flat Rate Account? 

It is a pricing model for credit card processing becoming increasingly popular. The most common type of this processing is when a company charges its clients a fixed volume percentage. For example, a company might charge a fixed rate for each sale, regardless of size or value. 

A flat-rate pricing model for credit card processing may be one of the best options for small businesses. This type of flat rate usually applies to businesses with lower processing volumes. The fee is a set amount that the business pays each month, regardless of transactions. This pricing model is becoming popular because it is predictable and easy to understand. The transaction fees are affordable and straightforward, making it easy to understand your merchant account statement each month. 

Is Flat Fee Processing a Good Expenditure? 

The merchant account for credit cards is one of the best tools a business can use to improve cash flow and keep expenses low. This type of processing charges a fixed fee per transaction, regardless of the amount. For small businesses that process fewer transactions each month, this can be a great way to reduce costs. 

When looking for a way to reduce your credit card processing expenses and save money on your merchant account, be sure to ask about flat-rate pricing. This type of processing offers a fixed fee per transaction, regardless of the amount. This can be a great way to save money for businesses that process a lower number of transactions each month. Just be sure to ask about any additional fees. 

What Are the Advantages of a Flat Rate Account? 

This merchant account can provide several advantages for businesses that process credit cards. The benefits of flat-rate pricing are that you pay one set monthly fee for the entire account, regardless of how many transactions occur. This means that there is no per-transaction or percentage-based charge like most traditional merchant accounts. You also have access to more tools for budgeting with easier reconciliation processes and more predictable monthly costs. 

Some of the key benefits include: 

What Does A Flat Rate Account Cost? 

Understanding what you will be paying for your account is the first step towards meeting all of your business needs. The cost of a flat-rate merchant account can vary, but there are a few things that you should know before signing up for one. 

The first thing to look at is the monthly fee and any transaction fees, as this will be what you regularly pay every month. On top of the monthly and transaction costs associated with your account, there may also be some additional charges that you need to pay for specific services or transactions on a per-use basis. You know exactly how much it will cost to process credit cards each month with this account. This can help with budgeting and forecasting expenses. 


If you want to maximize your profits and have a simplified credit card processing system, then consider a flat-rate pricing merchant account for credit cards. With this type of system, you pay a set percentage fee every time you process a transaction. Your monthly processing fees will usually be lower than an interchange-plus model, which will allow more flexibility in the long run. 

When looking for a credit card processing solution, it's essential to consider all of your options. With these providers, merchants receive simple credit card processing needs. With this pricing, you can get the best rates in the industry without worrying about surprises down the road. I hope this article has helped you understand the basics of flat-rate pricing and how it can benefit your business. 


How You Can Find Business Savings with Your Credit Card Effective Rate 

How You Can Find Business Savings with Your Credit Card Processing

If you run a small or medium-sized business, you know that every business cost you pay directly affects your profit. The more you know where and how to lower costs, the more money you make.   

One way to keep your monthly costs down is by lowering credit card transaction costs. You will be charged transaction rates from your payment processor, merchant acquiring bank, card associations, and in some cases, even your merchant services provider. Each has its own methods of charging and opportunities for lowering payments. 

In this article, we will focus on payment processors. You will learn different ways you can save on credit card processing fees while helping you understand if you pay a fair rate in the first place. Knowing your company’s effective rate is a powerful barometer for seeing how much you overpay. 

What is an effective rate?  

How You Can Find Business Savings with Your Credit Card Effective Rate 

An effective rate is a formula in which you take the total processing fees from your payment processor’s monthly bill and divide the total number by your total sales for the same period. You will end up with a number that you will express as a percentage. 

Typically, a good effective rate is around 3% to 4%. To lower your percentage, look at the backend fees you pay. 

Some fees you can work around, while others you can negotiate. Let’s look at various fee types and models to see how they can be lowered. 

Review Your Business Type  

Businesses are categorized by the type of goods and services they offer and their related risk. Find out what category your business is in and how much you are charged for it. You can shop around to see if other providers offer lower rates for your category. You may also have some flexibility in defining your category depending on your type of business.  

Revisit Your Transaction Frequency  

Do you typically run a low quantity of orders? If so, the average you tell the provider during setup determines your rates. If your typical quantity is high, you can negotiate lower rates. The more transactions you run, the lower your rate. 

Revisit Your Pricing Model  

Knowing your order frequency also helps determine the best pricing model. In general, there are three pricing models to choose from: interchange-plus, flat fee, and blended pricing. Each model has benefits. 

Interchange-plus pricing shows every cost involved in each transaction. You see exactly how much you pay for specific payment methods and card associations to spot where and how to reduce costs. 

Interchange-plus pricing is typically lower than other models and is especially effective for businesses with large numbers of transactions. You benefit even further with lower rates for higher numbers of transactions. 

Flat fee pricing is a set fee for each transaction. You know exactly how much you pay per transaction, which helps with business budgeting. Thanks to its lower monthly fees, this model is typically best for businesses with low transactions. You still maintain some cost transparency. 

Tiered pricing has separate tiers: qualified, mid-qualified, and non-qualified. Qualified purchases have the lowest fees, and non-qualified purchases have the highest. You can save money by ensuring the majority of your transactions meet the qualified tier. But be careful. Non-qualified purchases can be very expensive.   

Avoid Hidden or Excessive Fees 

Unfortunately, not all processing fees are easy to spot or understand until you sign the contract. Less-than-forthright processors capitalize on this. You can cut down on these fees by carefully reviewing each one before signing, refusing unnecessary fees, and negotiating lower fees by shopping around. If you already have a contract, keep a careful eye on charges to see which fees to avoid and which are accidental. 

During signup or renegotiations, look for traits like:    

The Type of Transaction  

The type of transaction also determines your rate. Pricing is related to the risk of fraud, and some types of transactions are deemed safer than others. For instance, card-present transactions have the lowest risk of fraud, so they have the lowest percentage cost. Manually-inputting credit card information during a phone purchase is a higher risk. 

Every single transaction method is priced by risk, including using a virtual terminal on a website, using an eCommerce website, and offering mobile processing. You can maximize savings by limiting payment options to what is financially best for your business. 

Rates are also affected by how you run the card in a machine. If you use an EMV terminal, you pay less per transaction than if you swipe a card due to EMV’s stronger protection against fraud.

Your Credit History and Credit Score 

Like your business type, your credit score is used by providers to determine your rate. A low credit score indicates you may be a high-risk client, resulting in higher rates. To keep pricing down, pay all bills on time and keep a close eye on your credit score to spot when you are dinged for late payments. 

Change Processors 

If you still think your rates are too high, you can cancel your contract and move to a lower-priced processor. Keep in mind that shopping by price alone may not benefit you. A higher-priced processor may offer additional services that help your business at no charge. Additionally, some processors charge a high cancellation fee. Weigh the pros and cons of the costs of leaving. If you switch processors, you may choose a new provider that doesn’t charge a cancellation fee.  

For a Blend of Competitive Pricing and Quality Offerings,  Contact BNG Payments  

BNG Payments has extensive experience in the payments industry. We work closely with customers to help them understand the benefits of each pricing model. Our customers benefit from competitive pricing and excellent customer service, along with industry-leading payments technology. Contact us to learn how BNG Payments can help your business.

Average Credit Card Processing Fees in 2022

A crucial part of achieving maximum profit in a small business is minimizing expenses, and one cost component to keep a particularly sharp eye on is credit card transaction fees. The amount you pay to each company involved in a credit card transaction and how you take payments directly affect how much you spend. 

This article reviews the average credit card processing fees for businesses in 2022 and what factors determine your rates. 

Average Credit Card Processing Fees In 2022

A credit card transaction fee is a percentage per transaction and a flat fee per transaction. The current average is 2.65% plus $0.10. Prices will vary depending on the entities involved, the pricing model you choose, and other surrounding factors (covered below). As a general overview, the following is the price range per credit card company listed from lowest to highest:   

Each company has a per-transaction flat fee ranging from $0.05 to $0.10 except for American Express, which charges $0.10. 

Understanding Fees for Each Service  

The fees you pay encompass include each entities cost involved in each transaction: 

Interchange fees are the charges from the card-issuing bank—the bank shown on MasterCard and Visa credit cards. Not all credit cards have secondary banks. American Express and Discover work as their own banks. 

The interchange fee is by far the highest amount you pay because it covers credit card risk, encompassing nearly the entirety of the costs.   

Assessment fees are small percentage fees for using the credit card company’s network that sends and receives payment requests. Fees range from 0.12% to 0.15%. 

Markup fees are costs for using a payment processor to send and receive payment authorizations to and from your business, the card-issuing bank, and the merchant account. 

Merchant acquiring bank fees are for the merchant bank account where the credit card payments go before landing in your business account. This fee most often appears as monthly or annual charges and varies by the bank and services you choose. 

How Can You Reduce Your Credit Card Transaction Fees?

The following are ways to save money or keep costs to a minimum: 

Limit the Cards you Offer 

American Express and Discover charge high fees, so some businesses choose not to honor themRememberthis decision will restrict your chances of a sale, so carefully weigh this option. 

Choose a Pricing Model

You can choose from three pricing options: 

This model breaks out each cost in a credit card transaction in detail in the form of a percentage and per-fee transaction by each type of card. You gain a clear understanding of costs for each transaction. Generally speaking, you could experience the most cost savings with this option if your business experiences a high frequency of sales. 


This option is a flat fee for each transaction. This option provides a predictable cost per transaction that is particularly helpful for budgeting. This option most benefits businesses that have a low or medium frequency of sales.   


This option categorizes purchases into different pricing tiers. If you and your customer complete a sale in a low-cost tier, you pay lower than average pricing. Keep in mind that a high tier will work against you. For example, airline mileage cards often come at a higher rate. 

Negotiate with Your Merchant Account Provider

Accepting credit card payments requires a merchant account to receive payments and transfer the funds into your general business bank account, and this type of account can require fees. 

You will save most by opening a merchant account at a bank, and your life will be easier if the merchant account bank and business bank are the same. Still, it is a good idea to shop for different banks to find the lowest rate or suitable combination of pricing and service benefits you need. You can use the information to negotiate a lower rate with your current bank. 

Bank merchant accounts can be difficult and time-consuming to set up because of the amount of information required, so many small businesses enlist the help of a third-party payment processor that offers a merchant account with a faster and easier setup. On average, you will pay more for this service than through a bank.   

Negotiate with Your Payment Processor 

Payment processors do more than offer a merchant account, and their roles are critical. These companies send and receive payment requests and approvals between the customer’s card issuing bank, your terminal, and your merchant account. Any approvals or denials during a purchase are thanks to your payment processor. 

Though some banks may offer processing services, most use a third-party processor, and in either case, this service requires a fee. Like merchant banks, each processor varies in its services and fees, which is why shopping around can uncover savings. 

Other Factors that Influence Your Rate

Business history: If you have a history of unreliable payments, you will pay higher rates. 

Merchant category code (MCC): This code categorizes the goods and services your business sells according to their risks. Note, not all business types have an MCC. 

Card-Present vs. Card-Not-Present Transactions: The way you place a customer’s order can determine your rates. If you are a brick-and-mortar business, you will save most by running card-present transactions with the customer in front of you and manually swiping the card because this is considered low risk of credit card theft and disputes. 

If you are an online business, you can keep pricing down by using a payment gateway to create a more secure connection during internet transactions. 

Debit Cards vs. Credit Cards: Debit cards carry less risk because the funds are confirmed as available in a customer’s bank account.    

Transaction Size: The larger the transaction, the greater the risk and the higher the rate. 

Not sure what is right for your business? Check With Your Merchant Services Provider and Processor

BNG Payments is both a processor and merchant services provider. With deep experience in the payments industry and working with small businesses, we can help you determine the services and rates that work best for your business to maximize profits. Contact BNG Payments to get started.