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I don't see how this get around the fact that merchant fees will be 10, 20, or 30% of the amount sent to the website/corp/user that ultimately receives the paym
by ScottWhigham 17y ago
I don't see how this get around the fact that merchant fees will be 10, 20, or 30% of the amount sent to the website/corp/user that ultimately receives the payment. If you pay the "wrapper" site (what I'm calling the site you propose) $30 and it has to be divvied up x times, the wrapper site pays $1-$2 in processing fees to receive the money. They then take a cut and divvy the remaining money. Let's make it $25. If there are 25 sites to pay $1 each, what payment method does the wrapper site employ so that the merchant payment fees don't make it unprofitable? This is a lot like that piratebay "donations" scheme earlier this month.
- wmf 17y agoThe middleman aggregates payments across customers and time, so it sends a few large payments to each site.
- ScottWhigham 17y agoOk - makes sense. Definitely a win for the middle man - they earn interest on OPM until the payout period.