Consumers want to pay by credit card. But when it comes to choosing a payment processor, finding the best fit can be confusing.

We’re here to help. Don’t let confusing rates and hidden fees trick you into paying more than you should in the long run.

Here’s what to look out for.

The Overall Transaction Rate

The overall transaction rate is the largest expense you’ll pay for credit card processing before any fees or markups.

You’ll recognize this rate because it’s the percentage most companies advertise before additional fees. You’ll notice these rates vary vastly by company. But industry standard says to beware of anyone charging more than 2.9%.

Also watch out for companies with rates that vary greatly by type of transaction. Some will raise this rate if you want to process a card over the phone, for example.

Monthly Account Fees

Some processors charge a monthly fee on top of your transaction rate.

Others require you to meet a monthly minimum transaction amount, and if you don’t you’ll be charged the balance.

Don’t settle for these if you don’t have to. (Spoiler alert: You don’t have to.)

Chargeback and Retrieval Fees

Chargeback and retrieval fees are less avoidable, but usually unexpected and painful. These fees run around $15 to $25 and happen when a customer contacts their bank to dispute a charge with your business.

Early Termination Fees

Many payment processing companies will charge early termination fees if you get out of your contract early. So they may be unavoidable if you want to cancel or end up closing shop.

Here’s a tip: If possible, choose a processing company that charges fixed termination fees, as variable ones can be extremely costly.

Forgo the Surprises

Calculating what you can expect to pay for credit card processing is confusing. It doesn’t have to be.

Thryv integrates with PayPal’s Braintree. With Braintree, there’s a standard processing fee, no monthly fees, and no minimum transaction processing amount.