3 ms·

I think you are wrong here. Do you have any data to back up this claim? edit: I was misled by doing a "25% for everything" in my head, sorry.

MattGaiser 6y ago
Stripe charges 2.9% + $0.30 per transaction. https://stripe.com/en-ca/pricing https://stripe.com/en-ca/pricing So for a dollar, it is a 32.9% charge. I assume that there are other higher and lower priced options and that Google/Apple would get a bulk discount.
- Dylan16807 6y ago
  For small transactions you can easily get a rate of 5% + $0.05 If you're paying a 1/4 to 1/3 cut for $1 purchases, that's basically on you, not the credit card companies.
- m00x 6y ago
  Let's stop using $1 as a bar since it's extremely misleading. The lowest purchase of Robux is $5 USD, which would make the charge $0.46, or less than 10%. This is also Stripe's added-on fee. Large players also get very little interchange fees charged onto them because they can negotiate. https://www.businessinsider.com/heres-how-much-walmart-pays-in-interchange-fees-2014-3 https://www.businessinsider.com/heres-how-much-walmart-pays-... Walmart pays very little interchange, I can also assume Google/Apple negotiated good rates.
  - ZephyrBlu 6y ago
    Really weird how the example was $1. Micropayments is a common problem that is yet to be solved as far as I'm aware, so choosing the worst possible example to paint CC/payment processing companies in a bad light is extremely disingenuous.
    - microtherion 6y ago
      99 cents is a very common price point for paid phone apps, and when Apple originally introduced its fee structure, there were some doubts if they'd manage to even run this at break even.
      - donmcronald 6y ago
        It’s been a very, very long time since I bought something for $1 on an App Store. Most stuff is $3-5 now based on my experience.
m00x 6y ago
Not exactly wrong. They do take low variable $0.10-0.25 flat fee, then another 0-3% from the purchase depending on the card and merchant. They don't take 25% though, that's misleading. If the purchase is $100, they take around $2 in fees. If the purchase is very low, they'll take 25%. Hence why a lot of stores say they won't take Visa or Mastercard on low value sales. The seller also has a choice of not taking credit card and not lose 50% of their potential sales.

MattGaiser 6y ago

Stripe charges 2.9% + $0.30 per transaction. https://stripe.com/en-ca/pricing https://stripe.com/en-ca/pricing So for a dollar, it is a 32.9% charge. I assume that there are other higher and lower priced options and that Google/Apple would get a bulk discount.

Dylan16807 6y ago
For small transactions you can easily get a rate of 5% + $0.05 If you're paying a 1/4 to 1/3 cut for $1 purchases, that's basically on you, not the credit card companies.
m00x 6y ago
Let's stop using $1 as a bar since it's extremely misleading. The lowest purchase of Robux is $5 USD, which would make the charge $0.46, or less than 10%. This is also Stripe's added-on fee. Large players also get very little interchange fees charged onto them because they can negotiate. https://www.businessinsider.com/heres-how-much-walmart-pays-in-interchange-fees-2014-3 https://www.businessinsider.com/heres-how-much-walmart-pays-... Walmart pays very little interchange, I can also assume Google/Apple negotiated good rates.
- ZephyrBlu 6y ago
  Really weird how the example was $1. Micropayments is a common problem that is yet to be solved as far as I'm aware, so choosing the worst possible example to paint CC/payment processing companies in a bad light is extremely disingenuous.
  - microtherion 6y ago
    99 cents is a very common price point for paid phone apps, and when Apple originally introduced its fee structure, there were some doubts if they'd manage to even run this at break even.
    - donmcronald 6y ago
      It’s been a very, very long time since I bought something for $1 on an App Store. Most stuff is $3-5 now based on my experience.

m00x 6y ago

Not exactly wrong. They do take low variable $0.10-0.25 flat fee, then another 0-3% from the purchase depending on the card and merchant. They don't take 25% though, that's misleading. If the purchase is $100, they take around $2 in fees. If the purchase is very low, they'll take 25%. Hence why a lot of stores say they won't take Visa or Mastercard on low value sales. The seller also has a choice of not taking credit card and not lose 50% of their potential sales.