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I just sent them an e-mail. I'm hoping this is a payment gateway :D Have a call with Braintree, but they require monthly minimums and a setup fee. If there was

I just sent them an e-mail. I'm hoping this is a payment gateway :D Have a call with Braintree, but they require monthly minimums and a setup fee. If there was a scalable solution as follows, I'd jump onboard immediately: -Create an account (Free) -Start accepting payments at a slightly higher percent (3.5%?) -Percentage goes down as volume increases End the negotiation, setup fees, etc that are stuck in this archaic business please :(

NEPatriot 16y ago
I'm with you and see this as the solution to this mess as well. Give me a high % no monthly and lower my risk, once I've gotten some business and scale we can do the monthly thing.
- bdickason 16y ago
  Unfortunately, the credit card companies seem to disagree :( Or at least that's the response my brick and mortar payment gateway has given me in the past for something like this :( To get a decent rate for our salon, we had to project ridiculous revenue and pray that we came close to it to even get a reasonable rate.
  - NEPatriot 16y ago
    You should checkout squareup.com/features - I don't work for them. No monthly fees. 2.75% + $.15 if card is present. Though I think they are in beta and people in the forums were complaining about not getting the hardware last I looked about a week ago. It's for brick and mortar operations.
    - bdickason 16y ago
      I'm definitely familiar with Square. I actually 'pitched' them to alot of people at a recent flea market that I attended. We're paying 1.9% right now on card present w/ a $100 monthly fee and doing $45k revenue per month at our salon. So it's working for us at the moment. I'm definitely interested in Square and as they mature, we'll go through the whole 'credit check' etc process.
      - thinkcomp 16y ago
        Would you be interested in testing out FaceCash (if you're in CA, NY or MA)?
        bdickason 16y ago
        Feel free to shoot me an intro e-mail. I visited your site and we would definitely try out something at our salon just to see how it goes :) Probably more like a pilot program but who knows! bradley@getmochi.com
jeffepp 16y ago
100% agree, I have spoken with Braintree and they seem solid. They were not interested in removing min. monthly fees for startups until we are out of beta and actively selling...
staunch 16y ago
The big turn off for me with Braintree was the ridiculous application requirements. You could imigrate into the US five times and provide less documentation. I know why they ask for that info (to cover their asses), but it was enough for me to avoid them. A really simple (and fast!) application process could be a very big selling point. People are impulsive, and when evaluating processors I'd probably go for the easiest/fastest all other things being roughly equal. "Start processing credit cards today (really, seriously)!"
- leftnode 16y ago
  People are impulsive, but businesses aren't. If you're some guy wanting to start transaction, you might need a smaller solution. For businesses, I think they want a big set up process because it makes the managers feel safer.
  - staunch 16y ago
    Businesses are run by people.
    - mkramlich 16y ago
      Small businesses are run by people. Large businesses are run by processes and paperwork.
- dan_manges 16y ago
  For application requirements, we (Braintree) work with Visa, MasterCard and the sponsoring banks to make sure that all our merchants are in compliance. There are other payment providers that will turn a blind eye to these requirements in addition to postponing proper due diligence and underwriting until it's a problem for a merchant. We regularly have merchants approach us that are in some sort of bind (e.g. violation of card association rules, account was frozen / shut down) because their previous payments provider didn't do things correctly. The payments industry is very complex with a lot of layers and nuances. We try our best to do things right even if it means more upfront effort. An example: "With increased revenue, the merchant bank became concerned with the increase in liability. So, the bank closed the merchant account." And because they couldn't get their credit card data back, they had to ask all their customers to enter their payment information again. http://blog.recurly.com/2010/05/credit-card-portability/ http://blog.recurly.com/2010/05/credit-card-portability/ Additional Info: http://www.businessweek.com/smallbiz/running_small_business/archives/2009/08/paypals_reserve.html http://www.businessweek.com/smallbiz/running_small_business/... http://whiteelephantmedia.com/ http://whiteelephantmedia.com/ http://www.braintreepaymentsolutions.com/blog/paypal-reserves-surprise http://www.braintreepaymentsolutions.com/blog/paypal-reserve...
bdickason 16y ago
No response to my email yet :\ Perhaps they weren't ready for the pg media blitz?! ;)

NEPatriot 16y ago

I'm with you and see this as the solution to this mess as well. Give me a high % no monthly and lower my risk, once I've gotten some business and scale we can do the monthly thing.

bdickason 16y ago
Unfortunately, the credit card companies seem to disagree :( Or at least that's the response my brick and mortar payment gateway has given me in the past for something like this :( To get a decent rate for our salon, we had to project ridiculous revenue and pray that we came close to it to even get a reasonable rate.
- NEPatriot 16y ago
  You should checkout squareup.com/features - I don't work for them. No monthly fees. 2.75% + $.15 if card is present. Though I think they are in beta and people in the forums were complaining about not getting the hardware last I looked about a week ago. It's for brick and mortar operations.
  - bdickason 16y ago
    I'm definitely familiar with Square. I actually 'pitched' them to alot of people at a recent flea market that I attended. We're paying 1.9% right now on card present w/ a $100 monthly fee and doing $45k revenue per month at our salon. So it's working for us at the moment. I'm definitely interested in Square and as they mature, we'll go through the whole 'credit check' etc process.
    - thinkcomp 16y ago
      Would you be interested in testing out FaceCash (if you're in CA, NY or MA)?
      - bdickason 16y ago
        Feel free to shoot me an intro e-mail. I visited your site and we would definitely try out something at our salon just to see how it goes :) Probably more like a pilot program but who knows! bradley@getmochi.com

jeffepp 16y ago

100% agree, I have spoken with Braintree and they seem solid. They were not interested in removing min. monthly fees for startups until we are out of beta and actively selling...

staunch 16y ago

The big turn off for me with Braintree was the ridiculous application requirements. You could imigrate into the US five times and provide less documentation. I know why they ask for that info (to cover their asses), but it was enough for me to avoid them. A really simple (and fast!) application process could be a very big selling point. People are impulsive, and when evaluating processors I'd probably go for the easiest/fastest all other things being roughly equal. "Start processing credit cards today (really, seriously)!"

leftnode 16y ago
People are impulsive, but businesses aren't. If you're some guy wanting to start transaction, you might need a smaller solution. For businesses, I think they want a big set up process because it makes the managers feel safer.
- staunch 16y ago
  Businesses are run by people.
  - mkramlich 16y ago
    Small businesses are run by people. Large businesses are run by processes and paperwork.
dan_manges 16y ago
For application requirements, we (Braintree) work with Visa, MasterCard and the sponsoring banks to make sure that all our merchants are in compliance. There are other payment providers that will turn a blind eye to these requirements in addition to postponing proper due diligence and underwriting until it's a problem for a merchant. We regularly have merchants approach us that are in some sort of bind (e.g. violation of card association rules, account was frozen / shut down) because their previous payments provider didn't do things correctly. The payments industry is very complex with a lot of layers and nuances. We try our best to do things right even if it means more upfront effort. An example: "With increased revenue, the merchant bank became concerned with the increase in liability. So, the bank closed the merchant account." And because they couldn't get their credit card data back, they had to ask all their customers to enter their payment information again. http://blog.recurly.com/2010/05/credit-card-portability/ http://blog.recurly.com/2010/05/credit-card-portability/ Additional Info: http://www.businessweek.com/smallbiz/running_small_business/archives/2009/08/paypals_reserve.html http://www.businessweek.com/smallbiz/running_small_business/... http://whiteelephantmedia.com/ http://whiteelephantmedia.com/ http://www.braintreepaymentsolutions.com/blog/paypal-reserves-surprise http://www.braintreepaymentsolutions.com/blog/paypal-reserve...

bdickason 16y ago

No response to my email yet :\ Perhaps they weren't ready for the pg media blitz?! ;)