Wholesalers Credit Card Payment Processing

If someone says they can get it wholesale, that generally means they will pay the price retailers to get when they buy merchandise wholesale for their stores. Wholesale credit card processing refers to the wholesale rate for credit card processing.

The wholesale credit card processing fee is set by the credit card networks and the issuing banks. This fee consists of the interchange fee, which is controlled by the networks and banks.

Unlike the fees charged by the payment gateway or credit card processor, the wholesale fee is non-negotiable.

Interchange fees make up the majority of credit card payment processing. These fees vary by credit card network, and American Express charges higher interchange fees than Visa or MasterCard.

Wholesalers Credit Card
The type of card plays a role. Standard credit cards have lower wholesale credit card processing fees than rewards cards or commercial cards.

How the transaction was conducted influences the interchange fee. A swiped credit card is the least expensive transaction, while card-not-present transactions, such as online purchases, cost more.

Then there is the merchant category code.

The MCC classifies businesses by the types of goods sold or services provided. Those businesses considered high-risk, ranging from gaming to CBD sales, bankruptcy attorneys, and many others, will pay more for credit card processing services.

While the nature of businesses considered high risk varies, what they have in common is a higher risk of fraud and chargebacks.

On average, the interchange fee for a credit card transaction is 1.81%, although it can be as high as 3.5% for premium cards.

The interchange fee for debit card transactions is much lower, around 0.5%. Credit card networks typically update interchange fees semi-annually, in April and November.


A merchant account is a specific type of bank account that allows merchants to accept payments. Generally, a merchant account is used for credit card processing and electronic check processing but can be used for a variety of payment processing needs. To obtain a merchant account, an application must be submitted to a merchant account provider. These merchant account providers work with acquiring banks, such as Chase and Wells Fargo, to provide merchant accounts to businesses looking to process credit card payments. There are several types of merchant accounts depending on how the bank classifies the merchant’s industry. If the merchant account is used for card-not-present (CNP) or e-commerce transactions, it must be integrated with an online payment gateway. Otherwise, a physical terminal is required to capture payment information.


Towerspay works with all types of merchants, including what banks call “high-risk” merchants. These merchants are in an industry that the bank labels as high risk, meaning they have a higher likelihood of chargebacks, disputes, and fraud. The most common reason for this is that the card does not present transactions, which presents a higher risk of fraud. These merchants may have difficulty finding a high-risk merchant account because many payment processors refuse to participate in high-risk processing. Even if these merchants find a “high-risk payment processor,” they can still often deal with holds or freezes on their money and close merchant accounts. This is where Towerspay saves the day by finding them a high-risk merchant account provider that wants to work with their business and provide them with all the resources to meet their high-risk credit card processing needs.


Towerspay provides merchant accounts specifically tailored to a merchant’s industry. We do this by leveraging our banking relationships to solicit merchant accounts on your behalf. However, we don’t just solicit any merchant account, we use vendors who want to work with your business model and underwrite your merchants. This is important because it puts all the cards on the table and ensures that a vendor knows who you are and your business model before working with you. That way they know what to expect in the future. This strategy ensures that we find a merchant account vendor that wants to work with you, reducing the likelihood of holds, freezes, and closures, much less, and providing stable credit card processing.

Another benefit of this is that you can avoid the nightmare that can be applied to merchant accounts. Not only do most merchant account providers do very little underwriting, but it can take many applications before they find a merchant account that is right for them. Each application you submit reduces your chances of being approved for the next one because multiple applications make you look desperate to a provider they perceive as high risk.


After setting up your first merchant account, we recommend that you get an additional merchant account if you have more than $250,000 in sales volume per year. This is to ensure stable payment processing. While Towerspay takes every precaution to prevent you from experiencing a hold, freeze, or closure, we can never know how banks will act in the future. If they hire someone new or implement a new algorithm, it is possible that action may be taken against your account. In the event that this happens, if you have a second merchant account that is already active, working, and processing payments, you can switch your income stream to this account and avoid holds, freezes, and closures altogether.

Now, all of this may sound complicated and a lot of work, and it would be if you were doing this on your own. However, if you’re working with Towerspay, we manage all of this for you, making your role in all of this very easy. We even assign you your own Certified Payment Specialist (CPS), who will monitor your merchant accounts for you, providing you with one point of contact for all your merchant processing needs.


The first step on your path to a new merchant account is to start the Towerspay application, if you prefer to chat with someone for more information, call us at 1-833-872-9636. We can set you up in as little as 2 DAYS!

*Hint: This is easier because we can complete your application for you!

Choose the right merchant account for your business:

  • High Risk
  • CBD and Hemp
  • Enterprise
  • Retail
  • Mobile
  • Online Gateway


At Towerspay, your journey will begin with your application, which we use to collect information about you and your business to connect you with the right merchant account provider. From there, you will be connected with your own New Customer Specialist (NCS), who will help you complete this application and be your contact to answer all of your questions.

Once we have the necessary information and have evaluated your business model, you will be classified as a Gold, Platinum, or Diamond merchant based on your unique payment processing needs. After this, you will be introduced to your Certified Payment Specialist (CPS), who will be your single point of contact for all your payment processing needs. This ensures that when you call, you are talking to someone you know and who knows you and your business. They will apply for merchant accounts on your behalf and help you set up your new merchant accounts and online payment gateway.

After that, you’ll be ready to start accepting payments. Your CPS will monitor your accounts and stay in touch whenever you want to chat or if they need to alert you to something that requires your attention in addition to annual merchant account reviews.


We pride ourselves on making your life easier and facilitating business growth around the world. We have been doing this successfully for years and have helped countless companies reach their full potential, just take a look at some of our testimonials. More importantly, T would love to play its part in helping you achieve your goals and serve your customers seamlessly. If you are interested in working with us, you can start your EMAP application below or call us at 1-833-872-9636.