Selecting a Merchant Processor
Selecting a merchant processor can be complex to navigate. CraftPOS is available to help you determine which account type best aligns with your business plan. After careful analysis of your current costs, we will guide you through the available options to best meet your objectives.
Your focus will remain on managing your business. Our focus will remain on providing a secure, cost effective, seamless process in the background so you do not have to worry about it. Showcasing your business is our business!
How Much Do Restaurants and Bars Pay in Processing Fees?
This can be a complicated answer. Your average monthly volume, average transaction size, and type of restaurant will factor into that number. These criteria will help you to find cost efficient pricing.
Processors offer several different types of pricing models, such as tiered, flat rate or interchange plus (also known as pass-through pricing). At CraftPOS we offer interchange plus pricing. While this model can certainly appear to be the most confusing, it can provide a lower cost solution. Interchange plus pricing is best for sit down restaurants, bars and pubs as the average ticket is more than $10.
If you are having trouble identifying your current effective rate, we would be happy to assist you. We can inform you of the current rate you are paying and help you save on monthly credit card processing fees if your rate is not the lowest.
CraftPOS Credit – A subsidiary of CraftPOS Inc, a point of sale company located in Ellisville, MO, specializes in beverage point of sales for breweries, brewpubs, restaurants, and retail shops. CraftPOS Credit in partnership with Priority Payment Systems, a registered ISO/MSP, processes credit card transactions for their clients.
Priority Payment Systems – Headquartered in Alpharetta, Georgia, in the heart of FinTech Country, Priority was founded in 2005. With the mission to build a merchant-inspired payments platform that would advance the goals of our small and mid-sized business partners, Priority has become one of the fastest growing payments companies in the U.S