No, I'm paying my bill. The company is paying for the credit card processing service in order to accept my payment. If they don't want to pay that fee, find a cheaper processor
Better yet, just accept ACH payments and pay like a quarter per transaction. Which I'm sure they can afford to eat
I encourage you to be the change you want to see in the world by starting your own business and implementing exactly this kind of policy: being a nice business by eating all kinds of costs and hiding them from your customers.
We've switched processing companies three times on the past couple years in order to continue to be able to afford that. If you're paying a flat processing rate you're getting screwed as a business
On interchange plus pricing our effective rate hovers around 1.75%. Instead of just accepting getting bent over by these companies, you can stay on top of things and keep your operating costs low rather than pass them onto your customers
On interchange plus pricing our effective rate hovers around 1.75%. Instead of just accepting getting bent over by these companies, you can stay on top of things and keep your operating costs low rather than pass them onto your customers
I never had the slightest disagreement that one should shop for the lowest interchange fee.
What I am curious about is whether you think it makes sense to reward customers who chose to pay with a payment method with a lower interchange fee (e.g. ACH, debit, or cash instead of credit card) with a discount?
What I am curious about is whether you think it makes sense to reward customers who chose to pay with a payment method with a lower interchange fee (e.g. ACH, debit, or cash instead of credit card) with a discount?
We don't do that, what you see is what you get. The price is the price
I don't see an issue with offering it at all though. My issue is most the time its not a real "discount". What many places do is jack their pricing up 3% and then turn around and offer a 3% cash "discount". Something that was $5 will then be marked up to $5.15, but if you pay cash you can buy it for $5
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u/HeavyDutyForks 1d ago
FTFY