When I created my Merchant Account Comparison page, I had the thought that there was a market for a tool that could do this sort of comparison automatically (as long as the database of data was kept up to date). Well I finally came across such a tool: The Maculator!

The Maculator lets you compare two merchant accounts and payment processors to find the best fee structure that serves your products and business.

Here is the problem: there is NO one size fits all merchant account for ALL kinds of businesses.

The hidden secret: most merchant account and 3rd party payment processors have very different rates for different sales volumes. Some vary not only on volume but on the actual cost of the widget being sold. So if you sell 1000 one dollar widgets, the best processor for you will be VERY different then the one for a business that sells 10 widgets @ one thousand dollars each.

Solution: Knowledge is power! As referenced above, I have done some of the homework for you. However, you can use the Maculator to do the very same thing. They keep track of 40 plus providers and their current pricing structures. If you sell ANYTHING, you owe it to your business to do a comparison of providers to ensure you are not leaving money on the table.

How to use the Maculator:

First, determine your monthly sales volume and monthly total sales. For my example, I will say that monthly sales is $10,000 and monthly sales volume is 1000. This means I am selling a product or products that averages for around $10.

Second, know your current provider. For this example, I will use ClickBank. (or choose one you are THINKING about using).

Now go to the The Maculator.

From the dropdown labeled “Maculator Pre-Loaded Providers List”, choose “All Providers”:

This will produce a long list of all the providers they have in their database. You can also choose by sub-category. For example, you can choose only those with Free Setup or those who do Digital Only. Scroll down and find ClickBank.

You can see that they provide the detail of the current fee structure.

In the lower right hand corner, click “Maculate Me”. This will take you to the comparison screen.

Below the big green box is section labeled “Your Expected Business Volume”. Fill in the numbers you figured out in steps 1 and 2.

Below this, in the section labled “Merchant Accounts and Alternatives Rates To Compare”, there are two columns. In the left column, labeled “Provider A”, you should see that ClickBank is the chosen provider.

At this point, click the Update Rates button that is found in the “Your Expected Business Volume” section. (Yes, the usability here is a little wonky, but if you do not do this step, you won’t be able to select the alternative provider.

After you click Update Rates, the column labeled Provider A will look like this:

You should now be able to select the provider in Column B for comparison. For this example, I am selecting one of the Payquake choices.

Now for the big moment. Click the Maculate button.

You will get the comparison results:

Disclaimer: I chose these providers at random. This in no way represents a recommendation of a particular provider over another. Besides cost, businesses have to estimate value and features. It could very well mean that a more expensive option is the best route to go if they provide a level of service and features that you require.

With all that said, this is an EXTREMELY important step for anyone considering a 3rd party payment processor. Get your facts on the table before you make a decision. There are a LOT of options out there. While the list available on Maculator is quite large, I noticed that there are a few options missing.

I hope your find this information helpful. If so, please consider tweeting it to your audience from the Wibiya toolbar at the bottom of the screen.