[lug] Credit - was: [Letting folks pay from the web.]
Jeff Schroeder
jeff at zingstudios.com
Wed Feb 3 10:20:17 MST 2010
> If you do a little research on-line, you'll find that for many
> businesses their merchant fees exceed their net profit. It's getting
> a little ridiculous.
I concur. I own a small web hosting business and it was fantastic to be
able to charge customers' credit cards every month for their services.
But a few years ago the merchant processing fees started to rise,
eventually costing me about 50% of every transaction (we're talking
$10/month services). So I had to stop accepting credit cards and go to
an annual payment by check, which many customers didn't like at all.
Argh.
Jeff
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