alt Hacker NewsYou might be surprised to hear that my small business sometimes sees fees at 11%.
We blocked that card processor, obviously. But the % is very much not constant across e.g. Visa, often every purchase in a day is slightly different, and we can't even tell people what the rate is for their purchase due to a couple layers in between (still figuring out if we can fix that). It's vile, and probably should be illegal to not pass through the cost visibly.
Replies
To respond in bulk:
> complaint: credit card fees are high and maliciously opaque.
> suggestion: have you considered adding another company in the middle?
... do y'all understand that those middle companies profit from being in the middle? that profit comes from somewhere, where oh where could it be...
why on earth would you expect them to improve your income? you are literally buying convenience from them. or is this just thinly disguised advertising?
Why not just pay Stripe/Adyen/Braintree to smear the fees to 2.9% + $0.30?
Stripe is 2.9%+30¢ right, and that’s the advertised rate. So I assume any business seeing averages higher than that can be avoided by using a platform like Stripe.