Waytrix Pay

Merchant services questions & answersClear answers to the questions merchants ask.

Each page answers one question in depth: what it means, how it works, what it costs, and what to check before you decide. Don’t see yours? Ask it below.

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Equipment leasing & financing

How is an equipment lease payment calculated?

An equipment lease payment is calculated from the equipment price, the lease rate, the number of monthly payments, the buyout or residual value at the end, and whether the first payment is due in advance.

What is micro-ticket equipment leasing?

Micro-ticket leasing is leasing for low-cost equipment, typically items under a few thousand dollars such as credit card terminals, small POS setups, and office equipment.

Should I lease or buy a credit card machine?

For most businesses that can afford it, buying a credit card machine costs less over time.

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Processing costs

What are average credit card processing fees for a small business?

There is no single average, because processing cost depends on your pricing model, card mix, average sale, and whether cards are present.

Interchange-plus vs. flat-rate pricing: which is cheaper?

Flat-rate pricing charges one percentage (often plus a fixed fee) on every card, which is simple and predictable.

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Merchant accounts

How do I get a merchant account?

To get a merchant account, you apply with a processor or acquiring bank, provide business and owner details, and pass an underwriting review of your business type, sales history, and risk.

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Surcharging & cash discount

Is it legal to charge customers a credit card surcharge?

Credit card surcharging is allowed in most US states, but it must follow both card network rules and state law.

What is a cash discount program, and how does it work?

A cash discount program sets your posted prices at the card price and gives customers a discount when they pay with cash.

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POS systems

What is the best POS system for a convenience store?

The best POS for a convenience store is one built for fast scanning of a large item catalog, with age verification, quick price changes, and support for the payments your customers use, such as EBT where you accept it.

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Partners & agents

How do merchant services agents price merchant accounts?

Merchant services agents and ISOs usually receive “buy rates” from a processor, the processor’s cost to them, and set merchant pricing above those rates.

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