If you pay me 50¢, I'll tell you who paid 99¢!
Who paid 99¢?
11–20 of 46 posts
Re: Who paid 99¢?
#12View source tells me this uses Stripe. Stripe charges 2.9% + 30c, which leaves the owner with 66c, basically just 2/3rds. Pretty heavy.
Per transaction fees in finance really suck. I struggle a little to understand why more merchants don't get rid of them.. as it still encourages cash for smaller transactions at shops.
Really confuses me. I guess they are smarter than me.
Re: Who paid 99¢?
#13View source tells me this uses Stripe. Stripe charges 2.9% + 30c, which leaves the owner with 66c, basically just 2/3rds. Pretty heavy.
66% of free money is still pretty awesome
Re: Who paid 99¢?
#14I am really really curious to pay 99 cents, if there was a way to pay without giving my credit card information. Who paid 99 cents 2.0 supports paypal or something.
You can try https://privacy.com/
Re: Who paid 99¢?
#15Should use lightning network for payments. No scammy credit card network fees.
Re: Who paid 99¢?
#16View source tells me this uses Stripe. Stripe charges 2.9% + 30c, which leaves the owner with 66c, basically just 2/3rds. Pretty heavy.
It's also really easy to screw over the merchant. Report the transaction as fraudulent, and they're out $20-30 over a dispute that's impossible to win.
Re: Who paid 99¢?
#17View source tells me this uses Stripe. Stripe charges 2.9% + 30c, which leaves the owner with 66c, basically just 2/3rds. Pretty heavy.
Per transaction fees in finance really suck. I struggle a little to understand why more merchants don't get rid of them.. as it still encourages cash for smaller transactions at shops. Really confuses me. I guess they are smarter than me.
I’ve been told the answer is interchange fees: https://en.m.wikipedia.org/wiki/Interchange_fee
Re: Who paid 99¢?
#18View source tells me this uses Stripe. Stripe charges 2.9% + 30c, which leaves the owner with 66c, basically just 2/3rds. Pretty heavy.
On the other hand, stripe is the only party providing any actual service here, so only taking 1/3 of the money is pretty good.
Re: Who paid 99¢?
#19View source tells me this uses Stripe. Stripe charges 2.9% + 30c, which leaves the owner with 66c, basically just 2/3rds. Pretty heavy.
Per transaction fees in finance really suck. I struggle a little to understand why more merchants don't get rid of them.. as it still encourages cash for smaller transactions at shops. Really confuses me. I guess they are smarter than me.
> I struggle a little to understand why more merchants don't get rid of them...
Why is this a struggle? The reason is obvious. Most individual merchants have little, if any, bargaining power. Once you get big enough, you can negotiate lower rates, but you will almost always pay a percentage per transaction. Encouraging cash isn't necessarily a good thing.
Some customers (like me) like the convenience of paying with a card. If a merchant doesn't accept credit cards, I probably won't make a purchase since I rarely carry cash.
Re: Who paid 99¢?
#20Haha, what a fantastic business model
This is a very generous use of the word "business".