3 ms·
3% for very low volume maybe. Get a little bit of volume and you'll get less than 0.7%.
by thejosh 12y ago
3% for very low volume maybe. Get a little bit of volume and you'll get less than 0.7%.
- aianus 12y agoHow is that possible given that my credit card gives 1% cash back?
- anon1385 12y agoA lot of people don't pay off their cards on time?
- eric_h 12y agoThe average american has 15k in credit card debt[1] 1) http://money.cnn.com/magazines/moneymag/money101/lesson9/ http://money.cnn.com/magazines/moneymag/money101/lesson9/
- zminjie 12y agothey bank on you not paying the full balance every month so the interest alone will more than pay for your cash back.
- etchalon 12y agoThat and the fees they collect from the merchants.
- deleted 12y ago[deleted]
- runeks 12y agoThat depends on what you're selling. If your store sells "high risk" items (I know electronics are a high risk item, and adult content as well), the fee can exceed 3%, as I understand it.
- jonknee 12y agoSo the progress will be for consumers to willingly purchase without any protection? It's high risk for a reason, BTC doesn't solve any of that.
- runeks 12y agoNo, the solution is either for consumers to purchase from trusted stores only, or for a company to take over the role of arbitrageur between buyer and seller -- for a fee, of course. Basically splitting the functionality of PayPal into two: 1) payment processing and 2) dispute resolution.