Most merchants compare rates. Fewer compare how the deal is actually structured. These questions get at the details that decide what you really pay and what happens if something goes wrong.
Pricing
- What pricing model is this, exactly?
- What was my effective rate on last month's statement?
- Which fees are monthly, annual, per-transaction or conditional?
- What happens to pricing after any introductory period ends?
Contract and equipment
- How long is the contract, and what happens if I end it early?
- Is the equipment leased, purchased, or provided?
- Am I locked into specific hardware or gateways?
Program details
- Which program am I actually using, and where is it documented?
- How will pricing be shown to customers in every channel?
- Who handles signage, POS setup and staff training?
- How will the program be checked on after it's live?
Support and funding
- How long does it take to get funded, and are there any holds?
- How do I reach support, and during what hours?
- How are chargebacks handled and communicated to me?
Educational content
This article is for education only and is not legal, tax, or accounting advice. Program availability, disclosure rules, and allowed structures vary by state, card network rules, processor requirements, and how your business is set up. Talk to your own advisors before you adopt a program.