{"id":547790,"date":"2026-04-21T23:54:11","date_gmt":"2026-04-21T23:54:11","guid":{"rendered":"https:\/\/www.harrisburgnewsnow.com\/news\/story\/547790\/payment-gods-launches-free-processormatching-platform-as-us-merchants-lose-record-1485-billion-to-processing-fees.html"},"modified":"2026-04-21T23:54:11","modified_gmt":"2026-04-21T23:54:11","slug":"payment-gods-launches-free-processormatching-platform-as-us-merchants-lose-record-1485-billion-to-processing-fees","status":"publish","type":"post","link":"http:\/\/www.honolulunewsnow.com\/news\/story\/547790\/payment-gods-launches-free-processormatching-platform-as-us-merchants-lose-record-1485-billion-to-processing-fees.html","title":{"rendered":"Payment Gods Launches Free Processor-Matching Platform as U.S. Merchants Lose Record $148.5 Billion to Processing Fees"},"content":{"rendered":"
New “LendingTree for payment processing” tool lets business owners compare rates in 60 seconds, amid data showing 70% of merchants overpay by up to 40%<\/div>\n

Payment Gods, the payment processing community and comparison platform, today launched a free processor-matching tool that pairs merchants with the lowest-cost payment processor for their business, a model it calls “the LendingTree of payment processing.” The launch comes as new industry data reveals that U.S. credit card companies collected a record $148.5 billion in merchant processing fees in the most recent annual reporting period, with an estimated 70% of businesses overpaying due to hidden markups and opaque billing structures.<\/p>\n

The tool asks merchants to complete a 60-second quiz about their business type, monthly transaction volume, and current processing rates. It then analyzes that information against a database of processor pricing models to recommend the best-fit provider. Whether the merchant needs to accept credit card payments<\/a> at a retail counter, run a payment gateway for an online store, or set up a POS system for a restaurant.<\/p>\n

The Problem: A $148.5 Billion Black Box<\/strong><\/p>\n

Payment processing remains one of the most confusing line items on a small business’s books. The average U.S. merchant pays between 2.5% and 3.5% per transaction in fees, but the actual rate depends on dozens of variables: card type, pricing model, risk category, and whether the card is physically present. Businesses that use flat-rate processors like Square or Stripe often overpay on debit card transactions, while those on tiered pricing plans rarely qualify for the advertised “qualified” rate.<\/p>\n

The result: a business processing $500,000 per year may be paying $15,000 to $30,000 in fees, much of which could be reduced by switching to a more transparent pricing model.<\/p>\n

“Most business owners don’t know what they’re paying in processing fees, let alone whether they’re overpaying,” said the Payment Gods team. “We built this tool because the existing options are terrible. You either Google around and read ten comparison articles, or you call a sales rep who’s incentivized to upsell you. Neither one works for the merchant.”<\/p>\n

How the Matching Tool Works<\/strong><\/p>\n

The platform covers every major payment acceptance category, including:<\/p>\n