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How are your rates so low? Does that not include processing fees from Stripe? (That's what I assume you are using)
by Jefro118 9y ago
How are your rates so low? Does that not include processing fees from Stripe? (That's what I assume you are using)
- aloukissas 9y agoActually, the fees aren't that low: a) stripe charges 0.8% per ACH transaction, so that's almost a 2x profit margin at 1.5% fee; b) stripe also puts a cap of $5 per transaction, so the 2x profit margin is even higher once the transaction is over $625. Always be wary of % fees w/o a cap.
- Jefro118 9y agoThanks. I was thinking the Stripe fees would be the 2.9% + $0.30c, but I was looking at the wrong thing.