3 ms·
For reference for folks who aren't familiar - in the US,even 3% would be an above market rate for credit card processing. The big companies like square and stri
by ac29 6y ago
For reference for folks who aren't familiar - in the US,even 3% would be an above market rate for credit card processing. The big companies like square and stripe are usually 2.9% for $0/year accounts, and rates go down from there. Smaller processors can do lower rates, and if you do over a few $100k/year, you can do lower with the bigger players as well.
- davidgh 6y agoFor online processing, 3% is by no means above market. For example, the default price on Stripe (and many others) is 2.9% plus $0.30. For a business with an average order value of $30, that $0.30 adds a full percent, bringing your fees to nearly 4%. If you do high enough volume, yes, you can negotiate lower prices.