Faq from RapidCents
Processing cost is the effective rate: every fee on a full month’s statement divided by the volume processed. Interchange-plus states the network cost and the provider markup separately; a flat rate combines them, so the provider’s share is not visible. Funds usually land one to two business days after batch close. Changing processor does not mean changing banks, and most switches finish in one to three weeks. A disputed charge falls to the merchant unless it is contested successfully with evidence.
The essentials
What does payment processing actually cost?
Total every fee on a full month’s statement and divide by the volume you processed. That effective rate, not a headline percentage, is what one provider costs versus another.
How is interchange-plus different from a flat rate?
Interchange-plus shows the network cost and the provider’s markup as two numbers. A flat rate combines them, so you cannot see what the provider is actually charging you.
When do funds reach my bank account?
Usually one to two business days after the batch closes. An unclosed batch delays every payment inside it, which is the most common cause of a deposit that appears to be missing.
Do I have to change banks to change processors?
No. A processor settles into whatever business account you nominate, so your bank, chequing account and credit facilities are unaffected.
How long does switching providers take?
Most merchants complete a move in one to three weeks including hardware, integration testing and staff training, with cutover scheduled outside peak trading.
Who pays when a customer disputes a charge?
The merchant, unless the dispute is successfully contested with evidence. Authenticating online payments with 3-D Secure shifts fraud liability to the issuer.
Questions about Faq
Why does the rate I was quoted never match the rate on my statement?
A quoted rate usually describes one card type in one acceptance channel. A statement blends debit, rewards and commercial credit, card-not-present transactions and the fixed monthly lines, and the effective rate is what all of that adds up to.
Is there a fee to leave a processor?
With RapidCents, no: the agreement carries no early termination fee and no cancellation penalty, and an account can be closed at any time for any reason. That is not universal, so the term, the renewal window and any early termination amount are worth reading in whatever agreement currently binds you.
Is American Express priced the same way as the other card brands?
No. Amex works differently, so an interchange-plus comparison that includes Amex volume has to read those lines separately rather than folding them into a single blended figure.
If an online payment is authenticated, can it still be charged back?
Yes. 3-D Secure shifts liability for fraud chargebacks to the issuer. It does nothing for a dispute about the goods, the service or a duplicate charge, and those still arrive and still have to be answered with evidence before the deadline.
Does using a hosted payment page remove my PCI obligations?
It reduces them rather than removing them. When the card fields are hosted and the number posts from the customer’s browser, a full card number never reaches your servers, logs or database, and that is what keeps a business on the short self-assessment questionnaire instead of the long one.
Can I change processor without replacing my point-of-sale system?
Sometimes. It depends on which acquirers the platform is certified with, and on whether the terminals are locked to the provider that supplied them. Where it is possible, changing only the processing relationship avoids a full replacement project.
Take the next step
Talk to a RapidCents specialist
RapidCents Fee Check reads a processing statement and shows interchange separately from the markup. Upload a statement for an instant breakdown, or open a merchant account and start accepting payments on one account.
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