Upgraded Hardware Solutions
Offer your customers more payment options. Erply supports a variety of modern and secure solutions.
Get started quickly and easily with our plug-and-play setup. Erply works with Mac and Windows PCs, tablets, and mobile devices. Integrate your payment system to give more payment choices.
We collaborate with partners to ensure your store is set up with hardware that is cost-effective, user-friendly, and most importantly—secure. We offer your business the best payment terms, starting at 2.2% + $0.10 per transaction.
Compare Your Payment Processing Fees
Bank of America
From: 2.30% – 3.50% + $0.00 – $0.15 per transaction.
Chase Bank
From: 1.99% + $0.25 per transaction.
CitiBank
Rates are set individually for each business depending on volume, industry, and other factors.
US Bank
From: 2.75% + $0.29 per transaction.
HSBC
Rates are set individually for each business depending on volume, industry, and other factors.
Wells Fargo
Rates are set individually for each business depending on volume, industry, and other factors.
How Credit Card Processing Fees Impact Your Business
*All fees and rates should be considered with your provider*
General fees and rates
Transaction fees
Transaction fees are the biggest expense in merchant account maintenance and come in two types:
• Percentage (e.g. 2.19%, 0.25%).
• Flat fees per transaction (e.g. $0.20, $0.0195).
Often, both are charged on the same transaction.
Scheduled fees
These fees vary in name, value, applicability, and are charged monthly. They are always applied to all transactions.
• Monthly fees range from $5 to $15. May be higher if they include PCI compliance and gateway fees.
• PCI compliance averages $100 per year, although some providers may divide this monthly.
• Gateway fees depend on the gateway used. Most often monthly, some include a smaller transaction fee per payment.
• Various network fees such as MasterCard’s Merchant Location Fee and Visa’s Fixed Acquirer Network Fee (FANF) that the processor passes on as monthly or annual fees.
Event-based fees
Event-based fees apply only in certain cases (such as chargebacks). Some months may not have any chargebacks. Chargeback fees are usually $15 to $20, but can be as high as $45.
Other common fees
• Batch fees are small daily fees (usually $0.10 to $0.30) when you close out your sales for the day.
• Address Verification Service (AVS) fees—usually a few cents per transaction for this anti-fraud tool to check cardholder’s address and zip code.
• Voice authorization—a rarely needed anti-fraud tool, but charged for each use.
• PCI non-compliance fees are high monthly fees if you do not establish or maintain PCI compliance.
• NSF fees—applied if you have insufficient funds in your business bank account to pay processor debts.
Fees to avoid
• Cancellation fees
• Club or membership fees
• Vague “extra services” fees in contracts
Financial Intermediaries
• Credit Card Networks: Companies creating credit cards, like Visa, MasterCard, and American Express.
• Issuing Banks: Financial institutions issuing credit cards, such as Chase, Citi, and Wells Fargo. Some networks (Discover, American Express) also act as banks.
• Credit Card Processors: Also known as acquiring banks or acquirers. They manage batches and authorization requests so merchants can complete transactions.
• Merchant Account Providers: Companies that handle credit card payment processing (sales, support, etc.), usually with the help of an acquirer.
• Payment Gateways: Specialized avenues that route transactions to the acquirer, typically in e-commerce.
Secure Payment Solutions
Payment technology is constantly updated to stay aligned with the latest security innovations.
Magstripe cards are being replaced by EMV chip cards after 40 years in the USA.
Stay Safe from Card Fraud
Since the EMV standard launched in October 2015, all merchants without an EMV-ready POS were liable for chargebacks and fraudulent card transactions.
How do I know if my terminal supports EMV?
If your terminal prompts to insert a card, it supports EMV. If not, it instructs you to swipe.
EMV Advantages
EMV payments bring added security, faster transactions, and a better variety of payment methods.
Mobile and contactless payments are both EMV-enabled options growing in popularity for their ease at checkout. Using an EMV-ready solution lets your business offer payment choices your customers want.
Security Upgrades
Encryption and tokenization keep transactions secure.
The tech also helps you improve with real-time analytics.
Updating Payment Terminals
EMV-ready devices enable secure and integrated transaction management.
A big benefit is that integrated payment systems get updates from trusted partners, keeping customer data secure from fraud.
What Is Needed to Accept Payments?
Essential devices and systems:
• Payment terminal – a device that accepts card payments.
• Integrated payment system – terminal and cash register in one.
• Acquiring bank – a financial institution processing credit and/or debit card payments on behalf of merchants. The recipient, acquiring bank, and card or payment processor are also terms for this unit.
System components
• Cardholder data environment (CDE) – all systems and networks involved in processing card payments. Payment system may include payment terminal, POS, other connected devices, and connections to the acquiring bank.
• Encryption or cryptography – turns card data unreadable without special knowledge.
If you sell products or services online, you must understand the e-commerce payment system. You’ll need:
• E-commerce website – hosts and presents your business website and product pages online.
• Product pages – to showcase, allow browsing, and collect personal & delivery info, but never collect or store card data.
• Payment page – used to collect your customer's card data after they decide to buy. Processing may be handled by the merchant only, partially with third-party support, or fully outsourced (the safest option).
• Payment system – includes website with product pages and payment form/page; connected devices or systems (like Wi-Fi, computers for stock), and connections to your acquiring bank (aka payment service provider or gateway). Structured either fully outsourced, partly managed, or fully in-house.
Request a Free Demo
Erply is a modern and secure payment solution for retailers of all sizes.
We offer competitive payment terms so you can grow your business.
Erply helps you sell more, spend less.
• Fast and easy setup
• Maximum security levels
• More payment options for customers
• Integrated solutions at the best rates
If you want to know how to tailor Erply to your business,