3 ms·

But that doesn't include the credit card association's 2.10% or whatever, does it? Stripe does. Yes, collapsing the confusing levels of this process is certain

But that doesn't include the credit card association's 2.10% or whatever, does it? Stripe does. Yes, collapsing the confusing levels of this process is certainly worth something.

dangrossman 11y ago
No, it does include that fee. That 0.05% + $0.21 I referenced is the interchange fee charged by Visa. That fee was capped at that low level by the Durbin Amendment of the Dodd-Frank financial reform legislation in 2010. Stripe's pricing has been 95%+ markup when it comes to debit/check cards since then. Other card types don't have such an enormous fee spread, but unless all your customers are paying with corporate cards and AmEx, 2.9% flat rate is a real nice margin.
- jkestner 11y ago
  At the risk of being dense, are you sure you're not talking about debit cards? I've never seen interchange fees lower than about 1% for credit cards. In what I read from the Durbin Amendment, I've only found the specific numbers you mentioned in reference to debit cards. If I'm wrong, I want the name of your merchant processor!
  - dangrossman 11y ago
    I am most definitely talking about debit cards. I said "fee for charging a debit/check card". They make up 25% of my online processing volume despite being a mostly B2B business. They're probably more than 25% of Stripe's volume. Visa interchange fees: http://usa.visa.com/download/merchants/Visa-USA-Interchange-Reimbursement-Fees-2015-April-18.pdf http://usa.visa.com/download/merchants/Visa-USA-Interchange-... A screenshot of a transaction report at my processor: http://i.imgur.com/fSycwUS.png http://i.imgur.com/fSycwUS.png Feel free to e-mail me if you'd like any other clarification or information. It's in my profile.
    - jkestner 11y ago
      Whoops, you did say that, way back in the first post in our thread. Sorry, I've been focused on credit cards — all is clear now. I hadn't thought at all about that wrinkle of Stripe. I suppose it's (only partially) balanced by the higher AMEX, etc fees.

But that doesn't include the credit card association's 2.10% or whatever, does it? Stripe does. Yes, collapsing the confusing levels of this process is certainly worth something.

dangrossman 11y ago

No, it does include that fee. That 0.05% + $0.21 I referenced is the interchange fee charged by Visa. That fee was capped at that low level by the Durbin Amendment of the Dodd-Frank financial reform legislation in 2010. Stripe's pricing has been 95%+ markup when it comes to debit/check cards since then. Other card types don't have such an enormous fee spread, but unless all your customers are paying with corporate cards and AmEx, 2.9% flat rate is a real nice margin.

jkestner 11y ago
At the risk of being dense, are you sure you're not talking about debit cards? I've never seen interchange fees lower than about 1% for credit cards. In what I read from the Durbin Amendment, I've only found the specific numbers you mentioned in reference to debit cards. If I'm wrong, I want the name of your merchant processor!
- dangrossman 11y ago
  I am most definitely talking about debit cards. I said "fee for charging a debit/check card". They make up 25% of my online processing volume despite being a mostly B2B business. They're probably more than 25% of Stripe's volume. Visa interchange fees: http://usa.visa.com/download/merchants/Visa-USA-Interchange-Reimbursement-Fees-2015-April-18.pdf http://usa.visa.com/download/merchants/Visa-USA-Interchange-... A screenshot of a transaction report at my processor: http://i.imgur.com/fSycwUS.png http://i.imgur.com/fSycwUS.png Feel free to e-mail me if you'd like any other clarification or information. It's in my profile.
  - jkestner 11y ago
    Whoops, you did say that, way back in the first post in our thread. Sorry, I've been focused on credit cards — all is clear now. I hadn't thought at all about that wrinkle of Stripe. I suppose it's (only partially) balanced by the higher AMEX, etc fees.