Potentially Variable Terms
There is very little publicly available information regarding the standard Advantage Payment Processing contract. The company is a First Data/Fiserv reseller, which means that its contract is likely to resemble the standard First Data/Fiserv contract. First Data/Fiserv is capable of offering a wide range of contract terms.
A typical First Data/Fiserv contract offers a wide variety of terms and pricing plans, but its standard agreement is typically a multi-year contract with an early termination fee of $495, a monthly PCI compliance fee of $19.95, and tiered pricing. Businesses that process up to $50,000 each month will receive a swiped rate of 2.69% plus $0.19 and a keyed-in rate of 3.69% plus $0.19. Businesses whose monthly charges exceed $50,000 will receive a swiped rate of 2.29% plus $0.19 and a keyed-in rate of 3.29% plus $0.19.
Virtual Terminal and Payment Gateway Pricing
In addition to its storefront payment processing services, Advantage Payment Processing also dedicates a portion of its website that advertises its virtual terminal and payment gateway. The company refers to these services as its Orbital Payment Gateway. However, pricing on either of those services is not disclosed. Additional rates and fees, including gateway fees, technical support fees, batch fees, and additional transaction rates typically apply to these e-commerce services.
Possible Equipment Leases
The company’s website formerly stated that it does not lease processing equipment to merchants; however, it appears that it may now do so. Given the fact that there are no public complaints regarding Advantage’s pricing and contract terms, we will assign it an “A” rating for now, but business owners should still compare the company’s rates to the cheapest merchant account providers.
We also encourage readers to check out our list of the providers of the best merchant accounts.
