PROS / This processor audits your statements to ensure your rates don’t increase.
CONS / Getting your account set up by Change Merchant Solutions takes longer than most processors.
VERDICT / This processor has a good interchange-plus rate but its customer service is less responsive than many of its competitors.
Change Merchant Solutions is a California-based credit card processor with a low-rate guarantee that offers interchange-plus and tiered pricing plans. The interchange-plus rate that Change Merchant Solutions quoted our testers is better than average, with a markup of between 0.20% and 0.25%. The average interchange markup in our review is 0.30%. The interchange-plus per-transaction fee of $0.10 is average. Change Merchant Solutions also quoted our testers a tiered rate, starting at 1.39% for qualified debit cards and 1.69% for qualified credit cards, which are not as competitive as its interchange-plus rate.
The monthly fees charged by this processor include a $10 monthly fee and a $79 annual PCI-compliance fee. These fees fall below the typical amounts we saw from the processors in our review, particularly the PCI-compliance fee, which is $20 less than the average processors that charged that fee. It requires you to generate a monthly minimum of $25 in processing fees if you participate in its free terminal placement plan.
In our evaluation of credit card processors, we valued processors that were transparent with their pricing, fees and service terms – both on company websites and with our testers. Change Merchant Solutions posts some information about its terms and fees, but it is vague about its pricing as it promises savings but doesn't provide specific rates. During our testing procedure, we requested contracts to review, but Change Merchant Solutions did not send one, nor did it email us a confirmation of the rates it quoted to our testers over the phone.
Change Merchant Solutions does not require you to sign a long-term contract, which can give you the flexibility to change credit card processors if your current one does not meet your needs. This processor has a longer-than-average setup time, taking three or more days to establish your account.
When signing up with a processor, you want customer service that is knowledgeable and quick to respond. While the reps our testers spoke with from Change Merchant Solutions provided helpful information, they did not follow up by email and were sporadic in following up by phone. This service did not respond when we filled out the contact form on its site, so you should call directly.
Change Merchant Solutions offers a better-than-average interchange-plus rate as well as low fees. However, it can be difficult to get in touch with this processor as its customer service reps are less responsive than many of its competitors.