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> Credit cards are our primary form of digital money and their fees are excessive. The basic design was ACH money into the wallet, transfer money between balanc
by jboles 8y ago
> Credit cards are our primary form of digital money and their fees are excessive. The basic design was ACH money into the wallet, transfer money between balances for ultra low cost (1%), ACH money out of the wallet.
2% (credit card fee) is "excessive", but 1% is "ultra (!) low cost"?
- TACIXAT 8y agoThe fixed transaction cost is really what eats up low value transactions. 30 cent fee means anything below 30 cents is unusable. A 2 percent fee with no fixed cost would be fine with me. If you know of a processor that does this, let me know.
- jboles 8y agoThat’s a fair point, I had not considered the micro transaction aspect.