How much does it cost to use a credit card machine for a restaurant?
Card processing fees vary from one merchant card service provider to another and they may also vary according to your card sales’ volume. Credit card fees are based on a percentage of your overall transaction value, while debit card fees are fixed per transaction. On average, debit card transactions cost the retailer about 1,5% to 3% of the overall transaction value. Credit card transactions typically cost much more, at around 3% and more. The European Union recently published a plan to limit card transaction fees to 0,2% of transaction value for debit cards and 0,3% for credit cards, which could significantly reduce rates for credit card transactions. Credit card terminals are often offered by your merchant services provider, though you can source a card machine separately through any of several card machine providers.