Flat Rate

What is Flat Rate Processing?

Flat Rate Pricing is the simplest and easiest to understand pricing model for many of our merchants. Instead of understanding interchange rates or managing what card types and transaction types are used by customers, merchants can offer a very simple consistent and fixed fee for all transactions, regardless of card type or transaction method. As it’s the simplest and easiest to understand pricing structure, many of our merchants feel comfortable knowing they can focus on their business instead of their backend processing. There are no additional hidden fees or confusing contract agreements for merchants to understand, as it's set up to be convenient and beneficial for small businesses and startup companies.

Card Present

Processing rate
Per transaction
Processing method
A card present transaction is when payment details and data are captured and transferred in person in exchange for goods or services. This includes cards that are physically swiped, tapped or dipped at the card terminal.

Card Not Present

Processing rate
Per transaction
Processing method
A card not present transaction is when cardholders and credit cards are not physically in person to complete transaction. Customers manually input card information instead of capturing details through the card terminal.

How Does Flat Rate Processing Work?

Flat-Rate pricing works by paying out a fixed rate on each and every transaction that you process for your business, letting you easily anticipate and understand your monthly processing costs. However, while most companies speak highly about flat-pricing offerings and programs, they rarely are able to offer TRUE flat-rate pricing models. Because there are different types of cards that are being used and more importantly, different ways those cards are accepted, most processors have to offer a few different rates as a result.

It works by combining the interchange fees charged by the card networks and adding the processor specific markup, and then presenting that as a simple transaction fee. However, they bypass the specifics of card types and payment types, so they can offer a clean and simple flat rate price for their customers.

Some of the more typical rates you’ll see under a flat-rate pricing program include:
2.6% + $0.10 for card-present transactions
2.9% + $0.30 for card-not-present transactions

The fees incurred here for processing transactions will cover a variety services including, but not limited to: PCI compliance, Account maintenance, Fraud monitoring, Software Fees, Gateway fees
Credit card mockups

Benefits of  Flat Rate Pricing

Flat Rate Pricing is an extremely simple and easy to understand model for many of our merchants. Instead of keeping track of changing interchange rates or matching card types and transaction types, merchants can offer a simple and fixed fee for all transactions, regardless of card type or transaction type. This creates a consistent and easy to understand months end statement for these merchants. They can feel safe in the knowledge that the have clear and concise processing, giving them time and energy to refocus back on to their business.
Simplicity and Transparency:
Flat rate pricing offers merchants a straightforward fee structure that is easy to understand. With a single fixed rate for all transactions, businesses can easily calculate their payment processing costs without worrying about complex tier categorizations. This simplicity promotes transparency, ensuring that there are no hidden fees or unexpected charges.
Predictability and Budgeting:
With flat rate pricing, our merchants can accurately forecast and budget their payment processing expenses. Since the fee remains consistent for every transaction, businesses can easily estimate their monthly costs and incorporate them into their financial planning. This predictability allows for better financial management and eliminates surprises that might arise with other pricing models.
Ease of Comparison:
With a single rate to consider, Flat rate pricing simplifies the process of comparing pricing across different merchant services providers. Merchants are able to evaluate various offers and determine which provider offers the most competitive pricing for their specific needs, instead of trying to calculate their interchange rates or their tiered rates in comparison with the new competitor pricing.
Scalability and Flexibility:
Flat rate pricing is particularly advantageous for businesses with varying transaction volumes. As your business grows, the flat rate remains constant, allowing for scalability without a significant increase in processing costs. Additionally, flat rate pricing provides flexibility for merchants dealing with a wide range of transaction types, eliminating the need for complex tier differentiations.

Why should I want to use Flat Rate Pricing?

Flat rate pricing offers a simplified and transparent approach to payment processing costs, allowing businesses to focus on what they do best. With its ease of understanding, predictable nature, and flexibility, flat rate pricing helps merchants effectively manage their payment processing expenses. Business owners can streamline their payments processing and instead mobilize their resources into providing better products and services for their customers.

It’s time for you to take back and own your payments.

Sign up and start processing today!