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How to Calculate and Compare Your Credit Card Processing Fees With the Helcim Rate Calculator

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Ryleigh Stangness | May 19, 2023

“This simple and intuitive tool can help businesses understand how much money they can save on payment processing fees.”
3 min read
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    What is a Payment Rate Calculator?

    Introducing our latest product: the rate calculator for payment processing. This simple and intuitive tool can help businesses save money on payment processing fees by allowing them to calculate their rates in just a few clicks.

    Now you can input your business details and churn out what your rates and savings would be when you make the switch or choose to process payments with Helcim.

    Calculatemerchantfees

    Why we created this tool

    We understand the frustrations that businesses face when it comes to payment processing fees. That's why we created the rate calculator - to provide businesses with a simple and transparent way to calculate their rates and avoid overpaying for their transactions.

    We know rates speak for themselves and frankly, most businesses just want to see the numbers. They are willing to pay more for a flat rate because it is tangible and seems straightforward, even though there are options like Interchange Plus pricing which might allow them to save more for their transactions.

    This way, you don’t have to guess what Interchange plus pricing will cost you, and you can find out if it will save you money by switching, without a leap of faith or crunching too many numbers.

    Whereas many payment processors make it hard to calculate your rates or read your merchant statement, we value transparency and give you all the information and tools you need to make an informed decision when choosing the best payment provider for your business.

    And with no contracts, no extra or hidden fees, and a suite of free software tools- there’s so many reasons to try Helcim.

    How to calculate your credit card fees

    Using the rate calculator is easy.

    Helcim's rate calulator industry selection

    Businesses can select their industry type, monthly volume, and average transaction size.

    Helcim's rate calculator monthyl volume selection

    They can then compare their rates with the market average or their current provider to see if they are getting a fair deal. Compare your current processing fees from Square, PayPal, Stripe, Moneris, Wells Fargo, and more to see how they stack up to Helcim’s Interchange Plus pricing when it comes to your payment processing needs.

    Plus, our rate calculator takes advantage of volume-based discounts to ensure that businesses get the most accurate rates possible.

    Payment processing costs by industry

    The rate calculator can benefit businesses of all sizes and industries. For example, a restaurant owner can use the rate calculator to compare their rates with other restaurants in the country. An online retailer can use the tool to see if they could benefit from volume-based discounts. Or, a small business owner can use the rate calculator to ensure that they are not paying more than they need and are not overpaying for their transaction fees with their current provider.

    Compare payment processing fees

    When it comes to pricing and payment processing rates, many businesses don’t know they have options. There are a handful of pricing models out there, and many payment providers but most people either go through the household names and banks, or flat rate because it seems simple.

    compare interchange vs flat rate payment processing fees

    For example, with flat rate pricing vs. interchange Plus pricing, you are paying a flat fee regardless of the real cost of the transaction. Interchange Plus pricing works by taking wholesale rates with a set small margin on top and passing that on to you so you pocket the savings on the transactions which cost less by having lower interchange fees.

    Calculated rates view on Helcim's rate calulator tool

    Our rate calculator is unique in that it takes advantage of Helcim's Interchange Plus pricing and volume-based discounts, so you can crunch the numbers and see how much savings you could keep just by switching.

    The Rate Calculator— Summed Up

    Helcim is committed to offering affordable payment processing and empowering small businesses to find the best rates for their business. The rate calculator is a powerful and valuable tool created to help businesses see tangible ways they can save money on payment processing fees.

    It’s free to use, and takes just a couple minutes to do. Try the rate calculator today and see how much you could save on your payment processing fees!

    It's time to save with Helcim

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