As more and more businesses move online, accepting credit card payments has become a necessity. But processing fees can eat into profits, especially for small businesses. Luckily, there are ways to accept credit card payments for free. Here’s your ultimate guide to free credit card processing:
- Use a payment processor with a free plan
Many payment processors offer a free plan with limited features, but still allow you to accept credit card payments. Here are some of the most popular payment processors with free plans:
- PayPal: PayPal offers a free plan that allows you to accept payments online and in-person using a mobile card reader. However, the free plan charges a transaction fee of 2.9% + $0.30 per transaction.
- Square: Square offers a free plan that allows you to accept payments online and in-person using a mobile card reader. However, the free plan charges a transaction fee of 2.9% + $0.30 per transaction for online payments.
- Stripe: Stripe offers a free plan that allows you to accept payments online, but not in-person. The free plan charges a transaction fee of 2.9% + $0.30 per transaction.
- Braintree: Braintree offers a free plan that allows you to accept payments online and in-person using a mobile card reader. However, the free plan charges a transaction fee of 2.9% + $0.30 per transaction for online payments.
- Use a payment gateway with no setup or monthly fees
A payment gateway is a service that connects your website to a payment processor, allowing you to accept credit card payments online. Many payment gateways charge setup and monthly fees, but some offer their services for free. Here are some payment gateways with no setup or monthly fees:
- Authorize.net: Authorize.net offers a free payment gateway with no setup or monthly fees. However, the gateway charges a transaction fee of 2.9% + $0.30 per transaction.
- PayJunction: PayJunction offers a free payment gateway with no setup or monthly fees. However, the gateway charges a transaction fee of 1.6% + $0.10 per transaction.
- NMI: NMI offers a free payment gateway with no setup or monthly fees. However, the gateway charges a transaction fee of 2.75% + $0.30 per transaction.
- Use a cash discount program
A cash discount program is a way to pass the cost of credit card processing onto the customer, while offering a discount to those who pay with cash. This allows businesses to avoid credit card processing fees altogether. Here are some cash discount programs to consider:
- Fattmerchant: Fattmerchant offers a cash discount program that allows businesses to eliminate credit card processing fees. Instead, customers who pay with credit cards will be charged a fee to cover the cost of processing. The fee is clearly displayed on the receipt, and customers who pay with cash receive a discount.
- National Processing: National Processing offers a cash discount program that allows businesses to eliminate credit card processing fees. Instead, customers who pay with credit cards will be charged a fee to cover the cost of processing. The fee is clearly displayed on the receipt, and customers who pay with cash receive a discount.
- Gravity Payments: Gravity Payments offers a cash discount program that allows businesses to eliminate credit card processing fees. Instead, customers who pay with credit cards will be charged a fee to cover the cost of processing. The fee is clearly displayed on the receipt, and customers who pay with cash receive a discount.
In conclusion, accepting credit card payments for free is possible with the right tools and strategies. By using a payment processor with a free plan, a payment gateway with no setup or monthly fees, or a cash discount