Stripe Payment Processing
A new online processor is called Stripe. They are being presented as a new easy way to accept payments online. All a merchant needs to do is add a few lines of code to their website and they can accept credit cards on their site. Pricing is set at 2.9% of volume and $0.30 per transaction. This company is very similar to PayPal (as it is owned by some of PayPal’s creators) and is set to grow quickly. We have gotten quite a few questions about it so here is our take: First, wow that is high pricing. Yes it nice and simple, and as...
read moreHow does the decrease of credit cards and increase of debit cards affect your business?
CNN Money reported this week that the next generation has a different method about how they will spend their money. Due to the recession and credit issues, 20-29 year olds are using almost only debit cards. Most own only one credit card. This change coupled with a migration of other generations to debit cards during the recession has seen over a 500% increase in the use of debit cards for payments since 2008. To clarify debit cards are any card that directly ties to a bank account. Every business that accepts credit cards does accept...
read moreWhat is Visa FANF?
Visa Fixed Acquirer Network Fee (FANF) is a fee that is assessed to a merchant if they accept Visa in a month. This fee is unique because it is calculated very differently from many of the fees Visa and MasterCard have imposed over the years. Until now all fees from Visa have been based off the transactions or volume a business processes. This fee is charged if you accept Visa. The size of the fee will vary depending on how you accept Visa and your type of business. If your business processes all card present transactions (swipe or...
read more
Recent Comments