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Anybody do online credit card processing? What are the percentages you pay?
Posted on March 1st, 2009 2 comments
adrixia asked:
My husband was griping about his 2.4% fees for processing credit cards through paypal. I had a rough time finding different service’s percentage rates. If you process credit cards online, which company do you use and what percentages do you pay? I don’t think 2.4 is too bad, but I don’t really know.He also pays $30 per month to have the service. He only does online transactions. About 200 per month.
BOBBYOther - Business & Finance Cards Online, Credit Card Processing, Credit Cards, Credit Processing, Online Processing, Online Transactions, Paypal, Percentage Rates, Percentages, Rough Time2 responses to “Anybody do online credit card processing? What are the percentages you pay?”
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2.4% is about the going rate unless his 200 transactions per month add up to more than $1,000 each. Once you get above $250,000 you might get a slightly better rate.
He could also decide to only take other forms of payment – or add the 2.4% to his prices.
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Terminal Dr March 6th, 2009 at 22:02
Don’t go by rate alone. The only way to compare companies is to compare the total of all fees for the month and divide by your Visa/MasterCard/Discover sales (this is what your rate really is for the month). Include all fees for example; monthly minimum, gateway fees, internet transaction fees, batch fees, network fees, any fees from third party companies besides your processor.
Lauren F March 4th, 2009 at 05:56