Chicago-based startup FeeFighters, a comparison shopping site for credit card processers, is launching a new product to simplify online payments. FeeFighters’ Samurai is debuting as a gateway for online merchants to accept payments.
FeeFighters is a comparison shopping site for credit card processors. The startup aims to help merchants save money on credit card fees and also conducts reverse auctions to solicit competing bids from credit card processing companies.
So why is FeeFighters launching a payments gateway? CEO Sean Harper says that many of the customers who the startup has helped find the the best credit card processor are often locked in by their gateway provider, meaning they can’t switch. Samurai allows any business to send any transaction to any processor, with no lock-in.
Samurai’s features include the ability for transactions to be sent to multiple merchant accounts and will automatically send international and small ticket transactions to the cheapest processor. Samurai also securely stores customers’ credit card numbers, and allows merchants to achieve PCI compliance in minutes.
Samurai also includes universal compatibility so merchants can send and accept transactions to and from any payment processor. Samurai offers all features at a price of $10 a month and $0.10 per transaction.