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Compare Bank of America, Chase, Wells Fargo, Square Reader: Credit Card Processing Services

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01/24/2017 | 01:47pm CET

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DALLAS, TX - Merchant Resources, www.credit-card-processing.com, compares its credit card merchant services to those of Costco Merchant Services, Intuit Quickbooks, Square Reader, Wells Fargo Merchant Services, and Bank of America Merchant Services.

Merchant Resources called the 1-800 listed on each of the above credit card merchant services and discovered a variety of differences outlined below:

Intuit Quickbooks Payments

* Swiper rate @ 2.4% and 25 cents

* Non-swipe rate/reward cards @ 3.4% and 25 cents

* Software is $10 a month

Intuit quickbooks payments does not sell terminals. Intuit Quickbooks only sells swipers for the ipad or iphone. Their rates compare to the Square Reader. The rates are high and you also pay the 25 cents on top of the rate.


* Base Retail Visa/MC rate @ 1.38% and 19 cents

* Rewards Cards Visa/MC rate @ 1.99% and 19 cents

* Business Cards Visa/MC rate @ 2.65% and 29 cents

* Foreign and Government Cards Visa/MC 3.55% and 29 cents

* Terminal lease $30 a month for 2 years or $489 terminal purchase

* Need to be an executive Costco member, so you need to pay $110 a year

* No contract

Costco, the so called low price leader, was not so low price. You need to be an executive member and still pay $489 for the proprietory terminal. There rates are not that impressive.

Square Reader Swiper

* Base Retail Visa/MC rate of 2.75%

* Key Entered Rate of 3.5%

The square reader is a good solution for merchants that are seasonal, since "SquareUp" does not have any monthly fees. Merchants consistently over $10 per sale in Visa/MasterCard volume per month, have better options at:


Wells Fargo

* Base Retail Visa/MC rate @ 2.2% and 25 cents

* Mid qualified rate @ 3.1% and 25 cents

* The salesperson did not disclose the non-qualified rate

* Lease of terminal for $35 for 48 months or purchase terminal for $699 (FD130 terminal)

* $75 yearly fee

* $95 Setup fee

* No contract "until" filing-out personal information using a social security number, etc.

Wells Fargo credit card processing was high in fees, equipment cost and processing rates. Each time we called we were quoted different rates.

Bank of America

* 1.69% Base Retail Visa/MC rate

* 3.19% Mid-qualified rate

* Over 4.35% Non-qualified rate

* Terminal cost on a lease of $28.95 per month or purchase for $599

* No contract "until" filing-out personal information using social security number, etc.

Bank of America was transparent regarding their high discount rates.

Merchant Resources offers the following:

* 1.25% for debit/credit card with no pin

* 1.65% for base Visa and MasterCard, Discover

* No Monthly Fees

* FREE Terminal, cellular phone Swiper or POS for restaurant

If a business has a low average ticket, Merchant Resources can provide a transaction fee of 5 cents.

To receive a free no obligation merchant account quote, visit http://www.credit-card-processing.com or call 1-888-895-3129.

Media Contact

Company Name: Merchant Resources

Contact Person: Jim Johnston

Email: merchantconsult@gmail.com

Phone: 1-888-895-3129

Country: United States

Website: http://www.credit-card-processing.com

Source: www.abnewswire.com


(c) 2017 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials ($)
Sales 2017 87 721 M
EBIT 2017 31 916 M
Net income 2017 18 601 M
Debt 2017 -
Yield 2017 1,68%
P/E ratio 2017 13,15
P/E ratio 2018 10,73
Capi. / Sales 2017 2,59x
Capi. / Sales 2018 2,43x
Capitalization 226 787 M
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Bank of America Corp Technical Analysis Chart | BAC | US0605051046 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 34
Average target price 24,6 $
Spread / Average Target 9,0%
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Brian T. Moynihan Chairman, President & Chief Executive Officer
Eugene M. McQuade President & Director
Catherine P. Bessant Co-COO & Chief Technology Officer
Thomas Kell Montag Co-Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
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1st jan.Capitalization (M$)
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