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Unless you're ultra low volume I can't see why anybody would pay a percentage rate when you can use something like SagePay and pay 10p per transaction. It woul

Unless you're ultra low volume I can't see why anybody would pay a percentage rate when you can use something like SagePay and pay 10p per transaction. It would be an order of magnitude more expensive to use this for us, so what have I missed?

vidarh 13y ago
I don't for a second believe you are not paying 10p per transaction total. Not even debit cards are that cheap to process. What you are missing at the very least are the fees to the card associations. You need to compare Strip to SagePay's full merchant services, not fees for just using their software or whatever it is you're getting for 10p. E.g: http://www.sagepay.com/great-value-merchant-services-sage-pay http://www.sagepay.com/great-value-merchant-services-sage-pa... But even then, a large differentiator in merchant services cost is your risk profile and sales volume, as well as type of product.
- robryan 13y ago
  I have noticed very cheap quotes before that will then say plus interchange. Interchange is what the card companies charge the provider and you are probably looking at about .6% average just through those.
- ratherbefuddled 13y ago
  My other half's business uses Sagepay for online payments (for which we pay a flat £25 a month - or about 3p per transaction) against merchant services (where card fees are paid) through GlobalPayments into an HSBC business account. We have just under a thousand transactions a month for totals just into five figures, both in store and online, and we pay around £140 a month in fees. As a proportion it's not gone over 1% of the total in the last year. That covers _everything_, including card fees, online fees, the instore pdq machine, support etc. Only a small proportion of transactions are credit cards, most by far is debit. It's not a straight comparison with Stripe, because Stripe doesn't provide any of the instore stuff. What appeal ought Stripe to have to us? Why would we pay 2.4%? Genuine questions.

vidarh 13y ago

I don't for a second believe you are not paying 10p per transaction total. Not even debit cards are that cheap to process. What you are missing at the very least are the fees to the card associations. You need to compare Strip to SagePay's full merchant services, not fees for just using their software or whatever it is you're getting for 10p. E.g: http://www.sagepay.com/great-value-merchant-services-sage-pay http://www.sagepay.com/great-value-merchant-services-sage-pa... But even then, a large differentiator in merchant services cost is your risk profile and sales volume, as well as type of product.

robryan 13y ago
I have noticed very cheap quotes before that will then say plus interchange. Interchange is what the card companies charge the provider and you are probably looking at about .6% average just through those.
ratherbefuddled 13y ago
My other half's business uses Sagepay for online payments (for which we pay a flat £25 a month - or about 3p per transaction) against merchant services (where card fees are paid) through GlobalPayments into an HSBC business account. We have just under a thousand transactions a month for totals just into five figures, both in store and online, and we pay around £140 a month in fees. As a proportion it's not gone over 1% of the total in the last year. That covers _everything_, including card fees, online fees, the instore pdq machine, support etc. Only a small proportion of transactions are credit cards, most by far is debit. It's not a straight comparison with Stripe, because Stripe doesn't provide any of the instore stuff. What appeal ought Stripe to have to us? Why would we pay 2.4%? Genuine questions.