Welcome to Merchant Credit Card Processing
Competitive Rates for Costco Members Switching to Elavon
Costco has teamed up with Elavon, a leading global card acquirer, to provide you the highest quality merchant processing products and services at competitive rates.
Your business will benefit from one-point of contact for all your card acceptance needs as well as, low account fees, discounts on your equipment and access to a range of secure payment solutions. In addition, you benefit from 24 hours, 7 days a week customer service & POS support.
Securely consolidate all processing, settlement, and support services for all your Visa®, MasterCard®, Diners Club International®, JCB®, Maestro®, and American Express® credit and debit transactions through Elavon.
Costco members also benefit from a price guarantee: No changes on processing rates apply for the duration of the contract (subject to any association increase on assessments or interchange costs).
In addition, we give you access to iMerchantConnect, our online reporting and statement tool that allows you to securely monitor your merchant account from any web browser at any time of the day.
DCC: Additional Stream of Revenue
Elavon’s DCC solution converts international Visa and MasterCard purchases into the cardholder’s home currency at the time of sale and rebates a portion of the conversion fee back to your business. Learn more.
For further information, please refer to our FAQ's.
Cost-Effective Solutions for Your Payments Needs
Costco and Elavon provide you with innovative and secure card payments solutions at top rates backed by excellent service.
Processing Rates*
| Card Type | Executive Members From |
Standard Members From |
|---|---|---|
| Credit Card Transactions | 1.10% | 1.10% |
| Debit Card Transactions | 11p | 11p |
| Diners Club® | 2.50% | 2.50% |
| American Express® | Processing rates available on request | |
| Authorisation Fee | 1p per transaction | 1p per transaction |
| Processing Rates | If annual card turnover is over £500,000 rates can be negotiated |
|
Terminal Rental & other features*
| Executive Members | Standard Members | |
|---|---|---|
| Static terminal | £12.50 per month + VAT / 1st month rental fee waived |
£12.50 per month + VAT |
| Static terminal + PIN Pad | £14.50 per month + VAT / 1st month rental fee waived |
£14.50 per month + VAT |
| Portable terminal | £17.50 per month + VAT / 1st month rental fee waived |
£17.50 per month + VAT |
| Mobile terminal | £18.50 per month + VAT / 1st month rental fee waived |
£18.50 per month + VAT |
| Annual PCI compliance fee on dial terminals | Waived Other PCI fees may apply |
£30.00 + VAT Other PCI fees may apply |
| Annual PCI compliance fee on external-facing IP address or IP terminal | £100.00 + VAT | £100.00 + VAT |
| Members who can't demonstrate PCI compliance within 3 months of sign-up will be charged a non-compliance fee of £17 +VAT per month. | ||
| Comprehensive reporting solution: iMerchantConnect | Free | Free |
| Annual Service Charge | Free | £35.40 + VAT |
Credit and Debit card rates listed for Chip & PIN qualified Visa/MasterCard card present transactions. Certain cards are processed at a higher rate, e.g. Business 1% inclusive of Personal Premium Cards; downgraded transactions 60 bps inclusive of all MOTO transactions, where CVV2 is not used; inter-regional surcharges 1%.
Secure internet transactions utilising Verified by Visa or MasterCard Secure Code will be priced separately.
A £0.01 authorisation charge applies per transaction. A monthly minimum processing fee applies if the total merchant service charge for any given month is less than £20.
Annual interchange or assessment increases by Visa/MasterCard may affect these rates. Rates and fees may change without notice. Rate and acceptance are subject to underwriting.
An annual PCI fee of £100 plus VAT applies for members using an external-facing IP address or an IP terminal. Members without proof of a valid PCI certification are charged a non-compliance fee of £17 plus VAT per month.
Executive members benefit from one month’s free terminal rental as a once-off gesture for new sign ups on the first year.
A chargeback fee of £10 applies.
Individual deals can be negotiated for members whose card turnover is over £500,000 outside of the rates quoted (and inclusive of the authorisation fee & standard exceptions).
The offer is available only to new Elavon merchants.
Full details are available on application.