The comment saying to make one bulk donation instead of several broken up donations, so the credit card processors get less, actually got downvoted. Good lord, people are stupid.
I assume it is X + (Y * amount)? Don't tell me there is no minimum transaction amount? If not, why do some places have a minimum amount for card transactions?
no it is just x*amount. like 3.5%. minimum transactions for credit aren't set by the credit card company but the store itself. the margins on cheap items are often very slim so it could work out so that they make nothing on these items. it is not very common, I can't even remember the last time there was a minimum set for card transactions anywhere I spend money.
also is a trick to get you to spend more. does it work on you? I mostly use cash.
Processors vary in fee structure. Some do include a flat fee on top of the percentage, e.g. Stripe: 2.9% + 30¢ per online “swipe”; Square: 2.6% + 10¢.
That $5 minimum purchase nonsense is just that – a $5 swipe under stripe (admittedly a poor example, but illustrative all the same) nets the merchant $4.55. Especially given the prevalence of minimums at convenience stores and the like, the margins are way higher than the swipe fees. Card minimums are bullshit.
agreed, but the ones you reference are not direct processors. they sit in front of the processors, e.x. visa. hence their flat fee on top of the casd fee.
The comment saying to make one bulk donation instead of several broken up donations, so the credit card processors get less, actually got downvoted. Good lord, people are stupid.
wait, so you're saying five percent of a hundred is less than five percent of fifty plus five percent of fifty?
credit card processors take a flat percentage cut. I'm assuming you didn't know that vs algebra.
I assume it is X + (Y * amount)? Don't tell me there is no minimum transaction amount? If not, why do some places have a minimum amount for card transactions?
no it is just x*amount. like 3.5%. minimum transactions for credit aren't set by the credit card company but the store itself. the margins on cheap items are often very slim so it could work out so that they make nothing on these items. it is not very common, I can't even remember the last time there was a minimum set for card transactions anywhere I spend money.
also is a trick to get you to spend more. does it work on you? I mostly use cash.
Processors vary in fee structure. Some do include a flat fee on top of the percentage, e.g. Stripe: 2.9% + 30¢ per online “swipe”; Square: 2.6% + 10¢.
That $5 minimum purchase nonsense is just that – a $5 swipe under stripe (admittedly a poor example, but illustrative all the same) nets the merchant $4.55. Especially given the prevalence of minimums at convenience stores and the like, the margins are way higher than the swipe fees. Card minimums are bullshit.
agreed, but the ones you reference are not direct processors. they sit in front of the processors, e.x. visa. hence their flat fee on top of the casd fee.
Good to know. Thanks.
Depends on the deal with their merchant services company. Some have a charge per transaction as well as a percentage.
if I get a legal alias as "Bernie Sanders" how much dough you think I can rack up from yuppiebros on gofundme?
So all of your free flowing dollars go to Trump. Ironically it sounds like socialism/communism.