Compare processors

Read the pricing model before you compare the logo.

A practical guide to what drives cost—interchange, markup, monthly fees, equipment, and contract terms—plus a checklist for reviewing any proposal.

Proposal checklist Have a proposal? Let’s review the full cost.

Pricing education

What you are actually paying for

A merchant statement mixes network costs you cannot negotiate away with processor markup and account fees you can question. Mixing those up is how “low rate” pitches get confusing.

Card networks set interchange—the wholesale fees that vary by card type, how the card is entered, and the merchant category. On top of that sit network assessments and other brand fees. Neither of those is “your processor’s rate,” though they appear on the same statement.

The processor adds its markup. How that markup is packaged is the pricing model:

Interchange-plus

You see interchange (and usually assessments) passed through, plus a stated processor markup. Easier to audit when the statement is detailed.

Flat-rate

One blended percentage (sometimes plus a per-item fee) that bundles network costs and markup. Simple to read; harder to see whether you overpay on your real card mix.

Tiered

Qualified / mid-qualified / non-qualified buckets. The sticker rate can look low while many cards land in higher tiers.

Monthly & incidental fees

PCI, statement, gateway, batch, monthly minimum, voice authorization, and similar lines. Small alone; material over a year.

Equipment & software

Purchases, leases, app subscriptions, and whether processing is tied to that hardware or POS.

Contract terms

Length, auto-renewal, early termination, equipment return, and whether you can move processing without replacing the POS.

Effective rate is total processing fees ÷ total card volume for a period. It is a useful summary of what you paid. It does not, by itself, prove a provider is overcharging—transaction mix, card types, keyed vs. presentment, and business type all move the number.

We do not publish universal “Swiped rates” here. Any quote has to come from your volume, mix, and statement.

Worked example

How effective rate is calculated

Illustrative only. These numbers are labeled assumptions—not a quote, average, or promise.

Assumptions (illustrative)

Monthly card volume: $80,000
Number of settled card transactions: 1,600
Total processing-related fees on the statement for that month: $2,240 (includes interchange, assessments, processor markup, and the monthly fees shown on that statement)

Effective rate = $2,240 ÷ $80,000 = 2.80%

Per-transaction average ticket ≈ $80,000 ÷ 1,600 = $50

Annualized fees at the same volume ≈ $2,240 × 12 = $26,880 (only if volume and mix stay similar)

What you can conclude: for that month, acceptance cost about 2.8¢ per dollar of card volume.

What you cannot conclude without the full statement: which dollars were interchange vs. markup vs. PCI/monthly fees; whether a competing “2.5%” offer excludes fees that appear elsewhere; whether a higher share of rewards or keyed cards explains the number; or whether equipment leases sit outside the processing statement.

Due diligence

Proposal-review checklist

Use the same categories on every proposal. If a line is missing, write “not provided”—do not treat silence as zero.

Pricing model — interchange-plus, flat-rate, tiered, or hybrid? Where is that stated in writing?
Interchange treatment — passed through, bundled, or partially disclosed?
Processor markup — percentage, per-item, or both? On which card types?
Monthly fees — list each recurring fee; mark any that are waived only temporarily.
Per-transaction fees — authorization, gateway, batch, voice, AVS, and similar.
Equipment / software costs — purchase vs. lease; term; what happens if you leave.
Contract length & cancellation — initial term, renewal, early termination, notice rules.
POS lock-in — can processing move without replacing the POS or breaking a hardware agreement?
Other charges — PCI programs, non-compliance fees, chargeback fees, monthly minimums, next-day funding fees.
Effective rate check — using your real volume and mix, not a sample ticket from a brochure.

Have a proposal? Let’s review the full cost. Send statements for a review

At a glance

How the common options are built

A plain summary of how each provider is usually set up. Rates and terms vary by merchant, so we do not list fees here. We compare on your statement.

Provider	Usually used by	How it is set up	What to check
Toast	Restaurants	POS, hardware and payments sold together	Contract length, hardware terms, and whether you can use another processor
Shift4	Restaurants, hospitality, retail	Processor with its own POS (SkyTab)	Equipment terms, contract length, and early termination terms
SpotOn	Restaurants and retail	POS with integrated payments	Software subscription, pricing program, and contract terms
Lightspeed	Retail and restaurants	Cloud POS with its own payments option	Whether processing must run through Lightspeed Payments
NCR Aloha / NCR Voyix	Restaurants, larger and multi-location	Long-running restaurant POS	Support model, hardware age, and processing options
Upserve	Restaurants	Restaurant POS, now part of Lightspeed	Migration plans and what happens to your current setup
Heartland	Restaurants, retail, schools	Processor with POS options, part of Global Payments	Statement fees, pricing model, and contract terms
HungerRush	Pizza and quick service	POS built for delivery and carryout	Online ordering fees and processing terms
Revel	Restaurants and retail	iPad-based POS	Hardware, subscription, and processing terms
Swiped Unlimited	Dealerships, restaurants, retail, ecommerce	Local team; works with several POS systems	Statement analysis and a written walkthrough of fees—not a logo comparison

Provider notes

What to verify if you already run one of these

Short notes only. The checklist above is the same for every brand.

Toast Shift4 SpotOn Lightspeed NCR Aloha / NCR Voyix Upserve Heartland HungerRush Revel

Toast

POS, hardware, and payments often sold together. Common in restaurants.

Ask whether processing can move independently of the POS, and read hardware and term commitments before renewing.

Shift4

Processor with its own POS (SkyTab). Common in restaurants, hospitality, and retail.

Review equipment terms, contract length, and early termination before comparing a “savings” slide to your statement.

SpotOn

POS with integrated payments. Common in restaurants and retail.

Separate the software subscription from the processing program when you compare cost.

Lightspeed

Cloud POS with its own payments option. Common in retail and restaurants.

Confirm whether processing must run through Lightspeed Payments for the features you need.

NCR Aloha / NCR Voyix

Long-running restaurant POS. Common in larger and multi-location operators.

Check support model, hardware age, and which processors can sit behind the POS.

Upserve

Restaurant POS, now part of Lightspeed.

Ask about migration plans and what happens to your current processing and hardware path.

Heartland

Processor with POS options; part of Global Payments.

Compare statement fee lines and the pricing model—not only the top-line rate in a pitch deck.

HungerRush

POS built for delivery and carryout. Common in pizza and quick service.

Include online ordering fees alongside processing when you total cost of acceptance.

Revel

iPad-based POS. Common in restaurants and retail.

Review hardware, subscription, and processing terms as separate decisions.

Provider descriptions are general and based on public information. Names are trademarks of their owners. Swiped Unlimited is not affiliated with these companies. Capabilities and contract terms change—verify on your agreement and statement.

Proposal or statement review

Have a proposal? Let’s review the full cost.

Send the proposal, recent statements, or both. We map fees to the checklist above and tell you what is clear, what is missing, and what is worth negotiating—or leaving alone.

1.844.510.5600
Headquartered in Monmouth Beach, NJ

Compare on the statement—not the slide deck.

Bring the proposal and a few months of statements. We will walk effective rate, markup, and the fees that never make the brochure.

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