Most merchants evaluate payment processors by comparing rate sheets. Sophisticated buyers use a Request for Proposal (RFP), a structured questionnaire that surfaces the information providers don’t volunteer and creates an apples-to-apples comparison across multiple vendors. This template gives you a starting framework you can adapt for your business.
How to Use This RFP Template
Send this to each processor you’re evaluating. Require written responses, verbal commitments aren’t binding, and written answers create accountability. Compare responses across vendors on each dimension, not just overall impressions. Ask for contract terms in writing before finalist discussions.
Section 1: Pricing and Fees
- What is your per-transaction rate and fixed fee for card-not-present (online) transactions?
- Are there any monthly platform fees, gateway fees, or account fees in addition to per-transaction charges?
- What is your annual PCI compliance fee, if any?
- What is your chargeback fee per dispute, win or lose?
- Are there monthly minimum processing fees? What is the threshold?
- What are your early termination fees if we choose to switch processors?
- Can you provide a complete fee schedule — every charge that will appear on our monthly statement?
- Are processing rates fixed, or can they be adjusted unilaterally after contract execution?
Section 2: Authorization Rate Performance
- What is the average authorization rate for merchants in our industry vertical and volume tier?
- Which acquiring bank(s) will process our transactions? Are you a direct acquirer or do you use a third-party acquiring bank?
- Do you support network tokenization (Visa Token Service, Mastercard MDES) for stored cards?
- How do you handle declined transactions, is retry logic built into the platform?
Section 3: Fraud and Security
- What fraud detection tools are included vs. available as paid add-ons?
- Can we configure custom fraud rules, or is the model entirely automated?
- Do you support 3D Secure 2 (3DS2) for eligible transactions?
- What is your average false positive rate (legitimate transactions incorrectly declined)?
- What certifications do you hold: PCI DSS Level 1? SOC 2 Type II?
- Who is responsible for PCI compliance scope, specifically, does card data touch our servers at any point?
Section 4: Dispute Management
- What is your average chargeback win rate for representments in our merchant category?
- What tools do you provide for dispute management — notifications, evidence templates, response tracking?
- What is the dispute notification timeline — how quickly after a chargeback is filed will we be notified?
- Do you provide chargeback reason code analytics so we can identify patterns?
Section 5: Integration and Platform
- Do you have a native WooCommerce plugin? When was it last updated?
- Does your WooCommerce integration support: subscriptions/recurring billing, partial refunds, multi-item orders, and order management within WooCommerce admin?
- What payment methods are supported natively: Visa, Mastercard, Amex, Apple Pay, Google Pay, BNPL?
- What is your API uptime SLA and what were your actual uptime figures for the past 12 months?
- What is your sandbox/testing environment like, do test cards simulate all decline scenarios?
Section 6: Support and Relationship
- What support channels are available: phone, email, chat? Are they 24/7?
- What is your average response time for critical (checkout down) issues?
- Will we have a dedicated account manager at our volume tier?
Section 7: Contract and Data
- Is the contract month-to-month or multi-year? What are the renewal terms?
- If we choose to switch processors, can we export our stored card tokens in a format compatible with other processors?
- What data retention and deletion policies apply to our transaction data?
- Are there any volume minimum commitments that would incur penalties if not met?
What Good Answers Look Like
Processors confident in their offering answer all of these questions directly. Evasive or vague answers on pricing, contract terms, or data portability are red flags. ConvesioPay’s answers: 2.9% + $0.30, no monthly fees, no PCI fee, no early termination, Adyen direct acquiring, month-to-month terms, stored token export on request.
Ready to get started? Learn more about ConvesioPay or view pricing.