Am I overpaying for credit card processing?

Upload your merchant statement to MerchantExam for free analysis. We'll compare your rates against industry benchmarks and identify if you're overpaying. Many merchants save 20-40% by switching processors after our analysis.

How does merchant statement analysis work?

Upload your monthly merchant processing statement as a PDF. We analyze your effective rate, identify hidden fees, and compare your costs to Square, Stripe, PayPal, Clover and other major processors. Results in 60 seconds.

What is a good credit card processing rate?

Good processing rates typically range from 2.6% to 3.5% for most businesses. Rates depend on your industry, transaction volume, and average ticket size. If you're paying above 3.5%, you're likely overpaying and should compare alternatives.

Is MerchantExam really free and independent?

Yes! Our merchant statement analysis is completely free and independent. Unlike processor-owned comparison tools, we provide unbiased analysis. Your statement is deleted after 24 hours for privacy.

Which payment processors does MerchantExam compare?

We compare rates against Square, Stripe, PayPal, Clover, First Data, Helcim, and dozens of other major processors. Our analysis shows which processors offer better rates for your specific business type and volume.

What hidden fees should I look for in my merchant statement?

Common hidden fees include PCI non-compliance charges, statement fees, batch fees, gateway fees, monthly minimums, interchange downgrades, and markup on assessments. These can add hundreds per month to your costs.

MerchantExam

Shopify merchants

Are you overpaying for Shopify payment processing?

Shopify Payments keeps things simple — but simple doesn't always mean cheap. Upload your merchant statement and see if a better rate exists for your store.

2.9% – 3.5%

Avg. e-commerce effective rate

15 – 30%

Typical savings found

< 60 seconds

Analysis time

Are you overpaying for credit card processing?

Upload your merchant processing statement. Free analysis in 60 seconds.

Encrypted and auto-deleted after 24 hours

Why Shopify sellers overpay for processing

Shopify charges an extra 0.5% – 2% transaction fee if you use a third-party payment gateway instead of Shopify Payments.

Shopify Payments rates (2.4% – 2.9% + $0.30) are fixed — there's no volume discount negotiation.

As an online seller, every transaction is card-not-present, so your interchange baseline is already higher than retail.

E-commerce means higher rates. Here’s why.

Every online transaction is classified as card-not-present. Card networks like Visa and Mastercard charge higher interchange rates for these transactions because they carry more fraud risk than an in-person swipe or tap.

That means as a Shopify seller, your baseline cost is already higher than a brick-and-mortar store. Any extra markup from your processor hits even harder. Knowing your effective rate — the total percentage you actually pay — is the first step to paying less.

Analyze your statement free

Shopify processing fees: FAQ

What are Shopify Payments processing fees?

Shopify Payments charges 2.4% + $0.30 (Advanced plan), 2.6% + $0.30 (Shopify plan), or 2.9% + $0.30 (Basic plan) for online transactions. Using a third-party gateway adds an extra 0.5% – 2% fee on top of whatever that gateway charges.

Can I avoid the Shopify third-party transaction fee?

The only way to avoid the extra transaction fee is to use Shopify Payments. However, even with that fee, a third-party processor with lower rates might still be cheaper overall — it depends on your volume. A statement analysis can tell you for sure.

Is Shopify Payments the best deal for my store?

For many smaller stores, Shopify Payments is the simplest and cheapest option. But higher-volume stores may find that interchange-plus pricing through a third-party gateway — even with Shopify's extra fee — saves money. Upload your statement to find out.

How do I lower my Shopify processing costs?

First, understand your effective rate — the real percentage you're paying after all fees. Upload your merchant statement for a free analysis, and we'll compare your current costs against alternatives that work with Shopify.

Ready to find out what you’re really paying?

Upload your Shopify merchant statement. Free analysis, results in under 60 seconds.

Are you overpaying for credit card processing?

Upload your merchant processing statement. Free analysis in 60 seconds.

Encrypted and auto-deleted after 24 hours