Off Topic: Credit Card Processing Fees., Help me understand. Options

[Series9]

I have a CC processing service that allows me to swipe cards on my iPhone. I love the service, but the fees are killing me.


Who can explain ACH processing? My bank account is getting hit all the time with this fee and there is no tracking number attached to it. It can be like $50 a couple of times a month.

I need to fix this. When all the fees are taken into account, I'm paying like 15%.

[SLITS]

Taking credit cards costs money .... while it used to be in the 3 - 4% range of the sale price, it is now 10 - 15% last I heard and could be higher with American Express being the highest as always.

Small merchants get hit with high percentages ... large merchants get better rates.

You make money ... they make their money ... Capitalism at it's best.

The fees are why some will not accept credit card payments ... maybe they lose business too. We do not accept credit cards.

Think eBay ... most everyone bitches about their fees, but that's how they make money.

Your choice ... don't accept them, raise your price to compensate or tell your customer you are going to add the percentage of the sale to the total bill if they use it.