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Credit Card Processing Massachusetts

Accepting your customers credit cards is more complicated then it looks. With so many different banks around Massachusetts and third party merchant providers offering credit card processing solutions it helps to have a concise overview of the various transaction fees, discount rates and technologies to consider.
1. Local Companies
2. Credit Card Processing - Info
3. How Credit Card Processing Works
4. Basic Fees
5. Featured Local Company

1 . Local Companies

Litle & Co.
978-275-6620
900 Chelmsford Street
Lowell, MA
Merchant Warehouse
866-599-3217
Springfield, MA
Merchant Warehouse
866-599-3217
Lowell, MA
Merchant Warehouse
866-599-3217
Worcester, MA
Merchant Warehouse
866-599-3217
Boston, MA
Merchant Warehouse
866-599-3217
Cambridge, MA
Cardaccept
800-932-5708 Ext 2218
1515 Hancock Street
Quincy, MA
Marblehead Capital Group
(978) 453-4603
151 Warren St
Lowell, MA
Eastern Bank
(781) 741-8061
274 Main St
Hingham, MA
Cit Business Credit
(617) 878-2040
60 State St
Boston, MA

2 . Credit Card Processing - Info


Whether you conduct business online, offline in Massachusetts or both you will at some point consider accepting credit card payments from your customers. The decision to allow credit card payments may be a simple one; however, selecting a merchant account provider is complicated and can have a real impact on your business not to mention your bottom line. Unfortunately, not all merchant accounts are alike. You’ll soon learn that providers have different approaches to rates, fees, limits, not to mention customer service – and finding the right match for your business is critical. The remainder of this guide will break down the process and key considerations to enable you to find the right solution.

3 . How Credit Card Processing Works

How Credit Card Processing Works
Without getting too detailed and caught up in all the possible exceptions, here’s what happens when a credit card is processed:

1. Merchant processes card with a point of sale unit or via software if online.

2. Data is transmitted (card info, sales amount) to the “acquiring” bank.

3. Acquiring bank requests authorization from the “card-issuing” bank.

4. If accepted, acquiring bank processes the transaction and sends approval back to the merchant.

5. The merchant reviews the transactions and transmits confirmation to acquiring bank for deposit.

6. Acquiring bank then requests and receives funds from the card-issuing bank.

7. Acquiring bank then deposits funds into the merchant’s account.

4 . Basic Fees


Needless to say, all parties involved in this process benefit (take a cut). Here are the primary fees to consider:

  • Set-up fee – one time fee for getting started
  • Transaction fee – merchant pays a fee for every transaction
  • Discount rate – flat % charged to merchant for every transaction
  • Chargeback rate – rate of monthly sales “held” in reserve to offset any fraudulent transactions
  • Chargeback fee – there is often a fee for charge-backs

    • 5 . Featured Local Company

    Litle & Co.

    978-275-6620
    900 Chelmsford Street
    Lowell, MA
    http://www.litle.com
    Read more about Credit Card Processing

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