UKnowWhoToo

UKnowWhoToo t1_j2e4gys wrote

I think it’s fine to share costs of payment acceptance and I actually prefer it. But by sharing those costs you may make me realize that you’re not honest in your information OR you’re poorly researching your payment providers to have competitive vendors, which is indirectly costing me more money.

For example, vehicle registration can be done by cash or check with no additional fee (that level of detail can be difficult to compute for government agencies) but credit cards have the merchant service fee passed to the person making the payment.

Those who aren’t making the “cost of business” more expensive since they’re paying by cash/check get to also pay a smaller amount.

I’d like to get a % off when I use Apple Pay since last I read there’s a 2% processing fee vs the more common 3%+ for visa/Mastercard.

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UKnowWhoToo t1_j2dgva9 wrote

3.25% for echeck is robbery. The bank the HOA uses doesn’t charge them that high of an amount for ACH debits. 3.25% makes sense for credit card payments due to credit card processing fees, but I’d be willing to accept $3.25 for an echeck since the HOA mgmt company is probably paying ~$1 for each transaction.

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