In 2025, U.S. businesses paid more than $198 billion in card processing fees — up 5.9% from $187 billion in 2024.
Source: The Nilson Report, 2025
How it works
From statement to savings in four steps.
No jargon, no sales call to get started. You connect or upload, we do the reading.
01
Connect
Link your bank securely or upload a recent processing statement. Takes about two minutes.
02
Analyze
We translate every line item into plain English — including the fees your processor buried.
03
Benchmark
We compare your effective rate against businesses of your size and industry.
04
Advocate
If you're overpaying, we lay out your options — negotiate, switch, or stay. Your call.
What we surface
The line items your processor hopes you'll skip.
Your processor counts on you not reading the fine print. We read all of it — every junk fee, every hidden charge, every dollar of padding — and show you exactly what it's costing you.
Sample statement — flagged
PCI non-compliance fee$39.95/mo
Tiered downgrade (non-qualified)$61.20/mo
Statement & batch fees$11.85/mo
Monthly minimum$25.00/mo
Est. annual overpayment$1,656
Illustrative — sample data
Your Privacy and Security Are Top Priority
We built RateIQ with security-first architecture. Your data is encrypted, protected, and never shared.
Bank-level encryption
Read-only access
Never touch your funds
Disconnect anytime
No data selling
Full control of your info
Straight answers
Frequently Asked Questions
RateIQ helps business owners understand what they're really paying in credit card processing fees, without the jargon, pressure, or sales gimmicks.
Is RateIQ safe to use?
Yes. RateIQ is built to be secure, read-only, and non-invasive. We help you understand your processing fees without touching your money, changing your accounts, or interrupting how your business runs. When relevant, we use secure, permission-based connections through Plaid.
Who built RateIQ, and why should I trust you?
RateIQ was built by people who know the payments space and are tired of seeing small businesses overpay. We're focused on transparency, education, and helping business owners get a fair deal without the sales fluff.
Will you sell or share my data?
No. Your data is yours. We do not sell, rent, or share your information with third parties.
Why is this free? What's the catch?
There's no catch. We believe every business owner deserves clear insight into what they're paying. In some cases, we may offer optional paid services or connect you with trusted partners, but only if you choose to explore that.
What happens after I sign up?
You'll get a clearer picture of your processing costs, effective rate, and any fees that may be inflating your bill. From there, you can decide what action makes sense for your business.
Do I need to switch processors to use RateIQ?
No. RateIQ works with your current setup. We're here to help you understand your fees and options, not pressure you into switching processors.
What kind of data does RateIQ need to work?
We may use your merchant statement or read-only transaction data to analyze your processing costs. When available, Plaid can help connect read-only financial data securely so we can track your effective rate and identify hidden fees.
Will this affect my credit or merchant account?
No. RateIQ only reviews information. It does not affect your credit score, your merchant account, or your day-to-day business operations.
Can I cancel or disconnect anytime?
Yes. You're always in control, and you can disconnect or stop using RateIQ whenever you want.
How do you protect my privacy and information?
We use secure systems and privacy-conscious data handling to protect your information. We take security seriously and design everything to minimize risk. Plaid also emphasizes permission-based access, user control, and the ability to revoke access.
How often will I get updates or reports?
That depends on how you set things up, but you'll receive ongoing updates so you can stay on top of your processing costs and spot anything unusual quickly.
What happens if you find a problem with my fees?
We'll show you exactly what we found and where the issue is. If you want help reviewing your options, we can guide you forward without pressure or sales games.
See what you're really paying.
Two minutes. Free. No processor on the other side of the table.