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Physician Partners vs. Costco – Merchant Processing Services

 

The Physician Resource Center’s new member, Capital Bankcard Processing, offers Physician Partners members a significant value on credit card processing. Here’s how they stack up against Costco’s credit card processing service:

Processing Fees:

Capital Bankcard Processing – Debit transactions starting at .69% – Exclusive rates for Partners members

Costco (outsourced to Elavon) – Tiered pricing depending on whether transactions are “qualified transactions”. Most transactions, including rewards cards, process at the significantly higher “mid and non-qualified transactions” rate.

Terms:

Capital Bankcard Processing – No long-term contract, No cancellation fee, no Minimum Monthly Fee, No Set-up Fees, No Hidden Fees

Costco (outsourced to Elavon)Mandatory 3-year contract and cancellation fees.

 

This chart clearly demonstrates the incredible savings Physician Partners members can achieve using Capital Bankcard Processing’s credit card processing service. 

Category Costco (Elavon) Physician Partners
Contract Termination Fee $395 – $1,259 (3 years) $ 0
Monthly Fee $24.95 – $49.95 $7.95 (x 12 months)
Non-cancelable Terminal Lease $45 – $120 per month $ 0
Monthly PCI Fee $15 (x 36 months) $ 0
Annual PCI Fee $100 – $195 $79
Set-up Fee $95 – $495 $ 0
Monthly Mobile Fee $15 (x 36 months) $ 0
Virtual Terminal $100 set up + $10.00 monthly $ 0
Reoccurring Payments Monthly Fee $10 – $15 (x 36 months) $ 0
Total Cost (before merchant fees) $2129.40 – $4748.40 $174.40


Don’t Forget!

Credit regulations are changing in October, 2015 – Merchant processing terminals must be “EMV” compliant. Contact Capital Bankcard Processing for help so your practice is ready – you don’t want to lose revenue because you can’t process patient payments.