Start with the whole agreement
A headline percentage is only one part of a processing arrangement. Gather the fee schedule, equipment agreement and recent statements so you can review the full setup together. Keep software and payment costs separate on your worksheet.
Understand what the rate represents
Interchange describes transfers between acquiring and issuing banks. The merchant’s agreement with its financial institution sets the charges the business pays; interchange is not the same as the full merchant price. Ask your provider to explain which costs are included and which appear separately.
Reference: Card-network explanation of interchange and merchant pricing.
Group the costs before comparing
Make separate lists for transaction charges, recurring account charges, equipment and occasional adjustments. Record the description, amount and billing frequency beside each item. If a charge is unclear, ask what service it covers and where it appears in your agreement.
Use the same business activity
Compare proposals against the same period, transaction count, card mix and sales channels. Ask the provider to show its assumptions. A quote based on a different pattern of sales may not be a useful comparison for your shop.
Ask for a written explanation
Request a complete fee schedule and an explanation of renewal, equipment and cancellation terms. Keep that response with your records. The purpose is a clearer decision, not a promised saving.