#credit card processing fees
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Card Processing Solutions
#Card Processing Solutions#credit card processing#payment processing#payment processing solutions#credit card processing companies#credit card processing solutions#merchant processing solutions#best credit card processing#credit card processing for small business#best of credit card processing#credit card payment processing#merchant processing#online credit card processing#processing solution#credit card processing fees#solutions for credit card processing
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Oh boy, FedEx really is by far the most incompetent company I have ever dealt with in my life. How do y'all keep up with that bullsh*t? I'll never complain about our national shipping companies again, holy sh*t...
#I mean#They're not even capable of making their stupid website work#I've been trying to confirm my identity for hours but they accepted none of those damn confimation codes#Then they want 6€ processing fee for advancing 1€ of customs duty#what the actual hell#And then you can't even make an account without owning a credit card?#Fyi only about 20% of germans own a credit card#Also paypal is a thing#Then they keep changing the estimated delivery date hourly#Sorry for being a karen but this sucks#eva.txt
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sometimes people grant you a great kindness and you go "oh, I'm going to pay this forward sometime in the future"
#I'm selling my jewelry in a local shop#and they're not even going to take a cut of the profits#they're only going to charge me the cost of credit card processing fees#and it's such a wonderful thing to do for someone who's just starting out in an artistic career#and it makes me feel like if I'm ever in this position in the future#I want to pay it forward
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At some point, I do feel like additional fees for appointments after insurance pays out just aren't worth the processing fees and postage.
#you paid a dollar to mail me a bill#plus the credit card processing fees and billing management#for 5 dollars and forty-six cents#you got what. $3.75 out of this? maybe??#what part of my dental procedure did this really cover?#LT talks
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Credit Cardzy: Discover the Best Credit Card Processing Fees
At Credit Cardzy, find the best credit card processing fees tailored to your business needs. Explore transparent, cost-effective solutions for seamless transactions. Compare and choose from a range of competitive rates, ensuring optimal savings and efficiency. Trust Credit Cardzy for expert guidance and discover the most suitable credit card processing fees that align with your business growth goals. Streamline payments without compromising on quality or affordability.
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How Much Does a Merchant Charge for Payments?
#How Much Does a Merchant Charge for Payments#merchant services#merchant account pricing#merchant account rates#merchant account fees#merchant account#what is a merchant account?#merchant fees#payment processing#merchants cant charge 2% extra on debit card payments#merchant services sales#merchant surcharge fee for credit cards#merchant surcharge#how to sell merchant services#afterpay merchant charge#merchant account for coaches#merchant service for consultant#merchant account cost for card-present
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Tapping Into Success: How Contactless Payment Solutions Can Benefit Your Business
Regardless of the kind of company you own, or what industry you operate in, if you want to grow your business, you’ve got to give your customers what they want.
This idea that the customer’s always right certainly isn’t a new one, but it’s been given new meaning with the rise of contactless payment solutions.
Being able to simply tap your credit card, smartphone, or other device has become increasingly popular in recent years, not least as a result of the pandemic.
Like it or not, many people today would prefer to avoid touching a payment terminal, and this has caused the popularity of contactless payments to skyrocket like never before.
A survey from Mastercard of 17,000 consumers across 19 countries found that nearly eight in 10 respondents make use of contactless payment solutions.
What’s more, the survey found that 82 per cent of respondents consider contactless payments to be “the cleaner way to pay” and 74 per cent of them said they planned to continue using contactless payments post-pandemic.
In addition, as you can see from the graph below, a report from Payments Canada, published in 2022, found that between 2020 and 2021, the volume and value of contactless payments increased by 12 per cent and 18 per cent, respectively.
The report also found that due to the pandemic, 43 per cent of Canadians have changed their payment preferences to “digital and contactless for the long-term.”
Moreover, about one-third of Canadians said they’re uncomfortable touching a payment terminal, and more than a quarter said one of their biggest frustrations when making in-store payments is when stores don’t offer a contactless option.
At the same time, the majority of Canadian merchants are now giving consumers what they want, as a study from the Bank of Canada found that in 2021 and 2022, 81 per cent of merchants surveyed said they offer contactless payment solutions in their stores.
All things considered, clearly this trend toward contactless payments isn’t going anywhere. Consumers from around the world, and right here in Canada, want this option to be available, and the reality is, business owners who don’t offer it are going to get left in the dust.
So, if you want to start offering contactless payment solutions, or you’re not quite sure what they are, but you want to learn more about this technology, and how it can benefit your business, then you should definitely keep reading.
Because in this article, we’re going to explain what contactless payments are, and how they work, and explore the benefits of this ever-more popular and convenient payment option.
What Are Contactless Payments and How Do They Work?
The term contactless payments refers to a form of payment where the customer doesn’t need to physically insert their card into a card reader or enter a PIN.
Instead, they can simply wave or tap their contactless-enabled card, smartphone, or wearable device (such as a smartwatch) near a contactless-enabled payment terminal to complete the transaction.
Here’s how contactless payments work:
Card or Device: Customers use a contactless-enabled debit or credit card, a smartphone with mobile payment capabilities (like Apple Pay, Google Pay, or Samsung Pay), or a wearable device equipped with contactless technology.
Payment Terminal: Merchants or businesses need to have a contactless payment terminal or point-of-sale (POS) system. These terminals are equipped with near-field communication (NFC) technology that enables them to communicate wirelessly with the customer’s card or device.
Tap or Wave: To make a payment, the customer holds their contactless card, smartphone, or wearable device within a few inches of the payment terminal. There’s no need to swipe, insert, or type in a PIN.
Authorization: The payment terminal securely communicates with the card or device to process the transaction. Depending on the transaction amount and the specific regulations, the customer might be prompted to enter a PIN for security verification.
Confirmation: Once the payment is authorized, the terminal provides a confirmation, usually with a beep or a visual cue, indicating that the transaction is complete. The process is quick and efficient, often taking just a few seconds.
So, now that you have a better understanding of what contactless payments are, and how they work, let’s take a look at how contactless payment solutions can benefit your business.
The Benefits of Contactless Payment Solutions
Contactless payments have emerged as a game-changing innovation that is reshaping the way transactions are conducted.
With their undeniable convenience, security, and efficiency, contactless payment solutions hold tremendous potential to benefit both consumers and business owners.
With that in mind, let’s explore the myriad ways in which contactless payments can make your customers happy and benefit your business.
Enhanced Customer Experience
For both business owners and consumers, one of the most significant advantages of contactless payments lies in the enhanced customer experience they offer.
In an era where speed and convenience reign supreme, customers are drawn to establishments that provide hassle-free, convenient, and quick payment methods.
Contactless payment solutions fulfill this demand by drastically reducing transaction times. With a simple tap or wave, customers can complete their purchases swiftly, eliminating the need for them to fumble with cash or enter PINs.
The result? Satisfied customers who are more likely to return, spread positive word-of-mouth, and contribute to increased patronage and higher sales.
Streamlined Operations
For business owners, time is often a precious commodity, but contactless payment solutions can help to streamline your operations by speeding up the payment process.
The reduced time spent on each transaction translates into shorter lines, faster checkout, and improved overall operational efficiency.
This efficiency gain can also have a ripple effect on various aspects of your business, allowing you and your employees to spend more time focusing on other critical tasks, such as customer service and inventory management.
Increased Sales Opportunities
Contactless payment solutions can open up new avenues for you to capture sales that you might have been missing before.
By embracing this technology, your business can tap into a broader customer base, including tech-savvy individuals who prefer cashless transactions.
Moreover, contactless payments can facilitate impulse purchases, as customers are more likely to make quick buying decisions when the checkout process is frictionless. For businesses operating in competitive markets, this could translate into a significant boost in revenue.
Data-Driven Insights
In the digital age, data is king. That being said, contactless payment systems can provide you with valuable insights into your customers’ behaviour and preferences.
And by analyzing that transaction data, you can gain a deeper understanding of your customers, which allows you to tailor your offerings, promotions, and marketing strategies accordingly.
This data-driven approach can help you to make informed decisions that can drive growth and optimize your operations.
Cost Savings
While the initial setup costs for contactless payment systems may seem like an investment, they can lead to substantial cost savings in the long run.
Handling and processing cash transactions can incur expenses related to cash management, security, and banking fees. But by offering contactless payment solutions, you can reduce your reliance on cash, thereby cutting down on associated costs.
Additionally, the digital nature of contactless transactions helps to reduce the need for paper receipts, which also contributes to these kinds of cost-effective practices.
Security and Trust
Contactless payments are built on robust security measures, including encryption and tokenization, which safeguard sensitive customer data.
This level of security not only protects customers but also fosters a sense of trust and credibility for your business.
In an age where data breaches and fraud are prevalent concerns, offering secure payment options can set your business apart and establish a reputation for prioritizing the security of your customers.
Adapting to Changing Trends
The world of commerce is evolving rapidly, and as a business owner, you’ve got to adapt to stay relevant.
With that in mind, contactless payment solutions represent an essential step toward the modernization of your business.
And by embracing this technology, you can demonstrate your willingness to evolve with changing consumer preferences, positioning your business as a forward-thinking and innovative establishment.
Contactless payments are ushering in a new era of convenience and efficiency, and for business owners, particularly those running small and medium-sized enterprises, the benefits are both tangible and transformative.
From enhancing customer experiences and streamlining operations to increasing sales opportunities and providing data-driven insights, the impact of contactless payment solutions is profound.
And as the business landscape continues to evolve, harnessing the power of contactless payments isn’t just a financial transaction – it’s an investment in the future success of your business that can foster growth, customer loyalty, and innovation.
Do you want your business to be able to accept contactless payments? Give us a call today to find out how we can help.
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I pay $2000 dollars a month to live in a 900 square foot box.
I delivered $120 worth of fast food to an 8 bedroom house in a gated community. In that hour, I earned less than it cost to buy myself a frozen pizza and toilet paper that night.
My account was overdrawn. I was charged $35 for being $2 short.
Didn't have the money to pay for new car tabs when they expired -> $250 dollar ticket.
Rent was submitted by the due date but processed two days after. That was an $180 late fee.
I was discriminatorily fired because my self-harm scars are "triggering to others," and I "abandoned my job" after being harassed about it. Yeah, sorry, you should've stayed in the abusive work environment, bit your lip, and merrily carried on if you didn't wanna be fired. Oh, and also, you don't qualify for unemployment now.
Don't want to have to tell a future employer your dead legal name while job hunting? $200 filing fee, $150 record request, a court hearing, and 3 months of wait time for a name change.
Just reach out to the family that abused you. Reach out to the family that abused you. Reach out to the family that abused you. Reach out to the family that abused you. Reach out to the family that abused you.
Disability payout is awaiting approval. Oh, sorry, the wait time is 6+ months for a response. Yes, we know that you're already legally disabled. Yes, you still have to wait.
Did you miss a credit card payment? Well, shucks, gonna lower that measly score now. Don't worry about how it's a qualifier for apartments, car loans, and mortgages; it certainly won't negatively ripple throughout the rest of your adult life.
I still have my things - my knickknacks and toys. For now. The fact that you haven't sold them is a sign that you simply aren't trying hard enough... did you know that? Times are tough! It's time to sell everything replaceable and irreplaceable. Things are just things, right? You must have nothing left before you truly may have help.
I can't quite capture the feeling I'm feeling.
You must have nothing left.
It's awfully expensive being queer, poor, and alive.
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Do You Need Good Credit for a Merchant Account?
(Human directed ai content.)
In today's digital age, having a merchant account is crucial for businesses of all sizes. Whether you're a small startup or an established corporation, accepting credit and debit card payments is often essential for maximizing sales and providing convenience to customers. However, one common concern among business owners is whether good credit is necessary to obtain a merchant account. Let's delve into this topic to understand the role of creditworthiness in acquiring a merchant account.
Firstly, it's essential to grasp the concept of a merchant account. A merchant account is a type of bank account that allows businesses to accept payments via debit or credit cards. When a customer makes a card payment, the funds are transferred from the customer's account to the merchant account. From there, the funds are typically deposited into the business's regular bank account within a few days, minus any fees charged by the payment processor.
Now, onto the question of creditworthiness. While it's true that some payment processors may conduct credit checks as part of their application process, having perfect credit isn't always a prerequisite for obtaining a merchant account. Many factors come into play when payment processors assess an applicant's eligibility, and credit history is just one of them.
Payment processors may consider various factors when evaluating a merchant account application, including:
Business Type and Industry: The nature of your business and the industry you operate in can influence the risk assessment process. Some industries are considered higher risk than others, such as travel, adult entertainment, or e-commerce.
Processing History: If your business has a history of processing payments, especially with the same payment processor, it can positively impact your application. A track record of successful transactions demonstrates reliability and reduces perceived risk.
Business Financials: Payment processors may review your business's financial statements, including revenue, cash flow, and profitability. A healthy financial position can enhance your chances of approval, even if your personal credit isn't stellar.
Chargeback History: A high volume of chargebacks can raise concerns for payment processors, as it suggests potential issues with customer satisfaction or service quality. Minimizing chargebacks is essential for maintaining a positive relationship with payment processors.
Compliance and Legal Factors: Adherence to industry regulations, such as PCI DSS (Payment Card Industry Data Security Standard), is crucial for securing a merchant account. Compliance with anti-money laundering (AML) and Know Your Customer (KYC) requirements is also essential.
While credit checks are a standard part of the application process for some merchant account providers, there are alternative options available for businesses with less-than-perfect credit. For instance, high-risk merchant account providers specialize in serving businesses with higher perceived risk due to factors like poor credit, industry type, or processing history. These providers often offer tailored solutions and may be more lenient in their credit assessment criteria.
Additionally, some payment processors offer "instant approval" or simplified application processes that may not involve extensive credit checks. However, these options may come with higher fees or more stringent terms to offset the perceived risk.
Ultimately, while good credit can certainly improve your chances of obtaining a merchant account and may lead to more favorable terms, it's not always a deal-breaker. Businesses with less-than-perfect credit can still explore options for accepting card payments and finding a payment processor that meets their needs.
In conclusion, while good credit may be beneficial when applying for a merchant account, it's not necessarily a requirement. Payment processors consider various factors beyond credit history when assessing an applicant's eligibility, including business type, processing history, financials, and compliance measures. Businesses with less-than-perfect credit can explore alternative options, such as high-risk merchant account providers, to secure the payment processing solutions they need to thrive in today's competitive market.
#merchant account#merchant account fees#merchant account rates#merchant services#what is a merchant account#merchant account pricing#high risk merchant account#merchant account providers#credit card processing#merchant accounts#high risk merchant account fees#merchant account processing#high risk merchant account approval#merchant account for high risk business#what is a high risk merchant account#high risk merchant accounts
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How I got scammed
If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
https://pluralistic.net/2024/02/05/cyber-dunning-kruger/#swiss-cheese-security
I wuz robbed.
More specifically, I was tricked by a phone-phisher pretending to be from my bank, and he convinced me to hand over my credit-card number, then did $8,000+ worth of fraud with it before I figured out what happened. And then he tried to do it again, a week later!
Here's what happened. Over the Christmas holiday, I traveled to New Orleans. The day we landed, I hit a Chase ATM in the French Quarter for some cash, but the machine declined the transaction. Later in the day, we passed a little credit-union's ATM and I used that one instead (I bank with a one-branch credit union and generally there's no fee to use another CU's ATM).
A couple days later, I got a call from my credit union. It was a weekend, during the holiday, and the guy who called was obviously working for my little CU's after-hours fraud contractor. I'd dealt with these folks before – they service a ton of little credit unions, and generally the call quality isn't great and the staff will often make mistakes like mispronouncing my credit union's name.
That's what happened here – the guy was on a terrible VOIP line and I had to ask him to readjust his mic before I could even understand him. He mispronounced my bank's name and then asked if I'd attempted to spend $1,000 at an Apple Store in NYC that day. No, I said, and groaned inwardly. What a pain in the ass. Obviously, I'd had my ATM card skimmed – either at the Chase ATM (maybe that was why the transaction failed), or at the other credit union's ATM (it had been a very cheap looking system).
I told the guy to block my card and we started going through the tedious business of running through recent transactions, verifying my identity, and so on. It dragged on and on. These were my last hours in New Orleans, and I'd left my family at home and gone out to see some of the pre-Mardi Gras krewe celebrations and get a muffalata, and I could tell that I was going to run out of time before I finished talking to this guy.
"Look," I said, "you've got all my details, you've frozen the card. I gotta go home and meet my family and head to the airport. I'll call you back on the after-hours number once I'm through security, all right?"
He was frustrated, but that was his problem. I hung up, got my sandwich, went to the airport, and we checked in. It was total chaos: an Alaska Air 737 Max had just lost its door-plug in mid-air and every Max in every airline's fleet had been grounded, so the check in was crammed with people trying to rebook. We got through to the gate and I sat down to call the CU's after-hours line. The person on the other end told me that she could only handle lost and stolen cards, not fraud, and given that I'd already frozen the card, I should just drop by the branch on Monday to get a new card.
We flew home, and later the next day, I logged into my account and made a list of all the fraudulent transactions and printed them out, and on Monday morning, I drove to the bank to deal with all the paperwork. The folks at the CU were even more pissed than I was. The fraud that run up to more than $8,000, and if Visa refused to take it out of the merchants where the card had been used, my little credit union would have to eat the loss.
I agreed and commiserated. I also pointed out that their outsource, after-hours fraud center bore some blame here: I'd canceled the card on Saturday but most of the fraud had taken place on Sunday. Something had gone wrong.
One cool thing about banking at a tiny credit-union is that you end up talking to people who have actual authority, responsibility and agency. It turned out the the woman who was processing my fraud paperwork was a VP, and she decided to look into it. A few minutes later she came back and told me that the fraud center had no record of having called me on Saturday.
"That was the fraudster," she said.
Oh, shit. I frantically rewound my conversation, trying to figure out if this could possibly be true. I hadn't given him anything apart from some very anodyne info, like what city I live in (which is in my Wikipedia entry), my date of birth (ditto), and the last four digits of my card.
Wait a sec.
He hadn't asked for the last four digits. He'd asked for the last seven digits. At the time, I'd found that very frustrating, but now – "The first nine digits are the same for every card you issue, right?" I asked the VP.
I'd given him my entire card number.
Goddammit.
The thing is, I know a lot about fraud. I'm writing an entire series of novels about this kind of scam:
https://us.macmillan.com/books/9781250865878/thebezzle
And most summers, I go to Defcon, and I always go to the "social engineering" competitions where an audience listens as a hacker in a soundproof booth cold-calls merchants (with the owner's permission) and tries to con whoever answers the phone into giving up important information.
But I'd been conned.
Now look, I knew I could be conned. I'd been conned before, 13 years ago, by a Twitter worm that successfully phished out of my password via DM:
https://locusmag.com/2010/05/cory-doctorow-persistence-pays-parasites/
That scam had required a miracle of timing. It started the day before, when I'd reset my phone to factory defaults and reinstalled all my apps. That same day, I'd published two big online features that a lot of people were talking about. The next morning, we were late getting out of the house, so by the time my wife and I dropped the kid at daycare and went to the coffee shop, it had a long line. Rather than wait in line with me, my wife sat down to read a newspaper, and so I pulled out my phone and found a Twitter DM from a friend asking "is this you?" with a URL.
Assuming this was something to do with those articles I'd published the day before, I clicked the link and got prompted for my Twitter login again. This had been happening all day because I'd done that mobile reinstall the day before and all my stored passwords had been wiped. I entered it but the page timed out. By that time, the coffees were ready. We sat and chatted for a bit, then went our own ways.
I was on my way to the office when I checked my phone again. I had a whole string of DMs from other friends. Each one read "is this you?" and had a URL.
Oh, shit, I'd been phished.
If I hadn't reinstalled my mobile OS the day before. If I hadn't published a pair of big articles the day before. If we hadn't been late getting out the door. If we had been a little more late getting out the door (so that I'd have seen the multiple DMs, which would have tipped me off).
There's a name for this in security circles: "Swiss-cheese security." Imagine multiple slices of Swiss cheese all stacked up, the holes in one slice blocked by the slice below it. All the slices move around and every now and again, a hole opens up that goes all the way through the stack. Zap!
The fraudster who tricked me out of my credit card number had Swiss cheese security on his side. Yes, he spoofed my bank's caller ID, but that wouldn't have been enough to fool me if I hadn't been on vacation, having just used a pair of dodgy ATMs, in a hurry and distracted. If the 737 Max disaster hadn't happened that day and I'd had more time at the gate, I'd have called my bank back. If my bank didn't use a slightly crappy outsource/out-of-hours fraud center that I'd already had sub-par experiences with. If, if, if.
The next Friday night, at 5:30PM, the fraudster called me back, pretending to be the bank's after-hours center. He told me my card had been compromised again. But: I hadn't removed my card from my wallet since I'd had it replaced. Also, it was half an hour after the bank closed for the long weekend, a very fraud-friendly time. And when I told him I'd call him back and asked for the after-hours fraud number, he got very threatening and warned me that because I'd now been notified about the fraud that any losses the bank suffered after I hung up the phone without completing the fraud protocol would be billed to me. I hung up on him. He called me back immediately. I hung up on him again and put my phone into do-not-disturb.
The following Tuesday, I called my bank and spoke to their head of risk-management. I went through everything I'd figured out about the fraudsters, and she told me that credit unions across America were being hit by this scam, by fraudsters who somehow knew CU customers' phone numbers and names, and which CU they banked at. This was key: my phone number is a reasonably well-kept secret. You can get it by spending money with Equifax or another nonconsensual doxing giant, but you can't just google it or get it at any of the free services. The fact that the fraudsters knew where I banked, knew my name, and had my phone number had really caused me to let down my guard.
The risk management person and I talked about how the credit union could mitigate this attack: for example, by better-training the after-hours card-loss staff to be on the alert for calls from people who had been contacted about supposed card fraud. We also went through the confusing phone-menu that had funneled me to the wrong department when I called in, and worked through alternate wording for the menu system that would be clearer (this is the best part about banking with a small CU – you can talk directly to the responsible person and have a productive discussion!). I even convinced her to buy a ticket to next summer's Defcon to attend the social engineering competitions.
There's a leak somewhere in the CU systems' supply chain. Maybe it's Zelle, or the small number of corresponding banks that CUs rely on for SWIFT transaction forwarding. Maybe it's even those after-hours fraud/card-loss centers. But all across the USA, CU customers are getting calls with spoofed caller IDs from fraudsters who know their registered phone numbers and where they bank.
I've been mulling this over for most of a month now, and one thing has really been eating at me: the way that AI is going to make this kind of problem much worse.
Not because AI is going to commit fraud, though.
One of the truest things I know about AI is: "we're nowhere near a place where bots can steal your job, we're certainly at the point where your boss can be suckered into firing you and replacing you with a bot that fails at doing your job":
https://pluralistic.net/2024/01/15/passive-income-brainworms/#four-hour-work-week
I trusted this fraudster specifically because I knew that the outsource, out-of-hours contractors my bank uses have crummy headsets, don't know how to pronounce my bank's name, and have long-ass, tedious, and pointless standardized questionnaires they run through when taking fraud reports. All of this created cover for the fraudster, whose plausibility was enhanced by the rough edges in his pitch - they didn't raise red flags.
As this kind of fraud reporting and fraud contacting is increasingly outsourced to AI, bank customers will be conditioned to dealing with semi-automated systems that make stupid mistakes, force you to repeat yourself, ask you questions they should already know the answers to, and so on. In other words, AI will groom bank customers to be phishing victims.
This is a mistake the finance sector keeps making. 15 years ago, Ben Laurie excoriated the UK banks for their "Verified By Visa" system, which validated credit card transactions by taking users to a third party site and requiring them to re-enter parts of their password there:
https://web.archive.org/web/20090331094020/http://www.links.org/?p=591
This is exactly how a phishing attack works. As Laurie pointed out, this was the banks training their customers to be phished.
I came close to getting phished again today, as it happens. I got back from Berlin on Friday and my suitcase was damaged in transit. I've been dealing with the airline, which means I've really been dealing with their third-party, outsource luggage-damage service. They have a terrible website, their emails are incoherent, and they officiously demand the same information over and over again.
This morning, I got a scam email asking me for more information to complete my damaged luggage claim. It was a terrible email, from a noreply@ email address, and it was vague, officious, and dishearteningly bureaucratic. For just a moment, my finger hovered over the phishing link, and then I looked a little closer.
On any other day, it wouldn't have had a chance. Today – right after I had my luggage wrecked, while I'm still jetlagged, and after days of dealing with my airline's terrible outsource partner – it almost worked.
So much fraud is a Swiss-cheese attack, and while companies can't close all the holes, they can stop creating new ones.
Meanwhile, I'll continue to post about it whenever I get scammed. I find the inner workings of scams to be fascinating, and it's also important to remind people that everyone is vulnerable sometimes, and scammers are willing to try endless variations until an attack lands at just the right place, at just the right time, in just the right way. If you think you can't get scammed, that makes you especially vulnerable:
https://pluralistic.net/2023/02/24/passive-income/#swiss-cheese-security
Image: Cryteria (modified) https://commons.wikimedia.org/wiki/File:HAL9000.svg
CC BY 3.0 https://creativecommons.org/licenses/by/3.0/deed.en
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I have a listing for $1 on Etsy, and thought I'd use it as an example of how much the fees are.
This customer got a 10% discount on $1, paying $0.90. I stopped sending these discounts but Etsy doesn't let you deactivate them, so they still work for buyers who have them.
They paid shipping which was $4.68 and sales tax which was $0.35, in total paying $5.93. Shipping and sales tax do not go to the seller as profit. I will need to pay that $4.68 for shipping to the postal service.
So we have $0.90.
Out of $0.90, Etsy takes 3.0% of the order total, plus $0.25 for credit card processing ($0.43)
Then on top of that, they take 6.5% of item total in Etsy fees ($0.06)
And finally, a shipping fee of 6.5% of what the customer paid for shipping ($0.30)
In total Etsy took $0.79. So the remaining profit to me is $0.11
Now, most listings you will see will be more than $1 obviously. But the percentages and fees will be the same.
As you can hopefully see, sellers are incentivized to raise their prices to counteract these fees. This is why I have made an effort to move to Shopify, although most buyers continue to prefer Etsy.
And by the way, no hard feelings to anyone who does prefer Etsy! I completely understand and acknowledge that for some buyers, especially international and EU/UK buyers, it is a necessity because Etsy handles VAT and other import fees. I also understand that Etsy provides peace of mind: providing refunds in certain circumstances, as well as shop reviews.
I hope this is informative for any buyers or sellers out there.
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It's time to start making art for Pride!! And I've got ✨SOME SUPER GAY POSE REFERENCES✨
100% of the profits from my Pride Pack 2023 will be donated to the following orgs, split evenly:
🌟 The Trevor Project @thetrevorproject
🌟 The Theater Offensive
🌟 Transgender Emergency Fund of Massachusetts
This pack will be available through the end of June 2023.
If you pay with credit or debit card more of your funds will go to the donation because Stripe has a lower processing fee than PayPal. ;D
This is a $1+ pack so you can choose the amount. There are 99 references including a whole folder with white flag poses for you to add your own colors.
My goal is to raise $1000 for each org so every dollar helps!! Please reblog to help spread the word!
HAPPY DRAWING! 🏳️🌈✨🏳️⚧️
#pride month#lgbtq community#pride#pride 2023#pride flag#lgbt pride#action pose#pose idea#drawing reference#pose ref#lgbtqia
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So those of you who have been following me may have noticed that I all but disappeared for about three months...well, that's because I've been planning to go to Japanese language school, and the wheels have really begun to start turning!!!!!!
I have been given the opportunity of my lifetime to be able to attend a Japanese language course at the International Study Institute in Tokyo's Shinjuku Ward. The course runs for a year, with the opportunity to extend it to two years, if my grades and money are sound [insert sound of children cheering here].
Being able to study Japanese locally and long-term has been a life goal of mine since I was fourteen. Though I'll probably never be able to fulfill my teenage dream of being an interpreter/translator for expats, this feels like the next best thing. Due to suffering from several comorbid chronic conditions that have majorly altered my life, most notably the beast known as systemic lupus erythematosus, I will probably never be able to seize another chance like this ever again. I won't be going in as a total novice, as I was able to take a year's worth of 1000-level Japanese language courses in college…before I had to drop out…… Since then I've been self-studying and using language exchange apps for practice, but nothing will beat the experience of using it in the day-to-day.
At this point in time (January 2024), my first six months of tuition have already been paid for. I am currently in a quiet waiting period while I wait to get to the next steps of the Certificate of Eligibility/Student Visa process. Before that, though, I need to secure my flight and housing. For the sake of my health, safety, privacy and comfort, a sharehouse will not be an option; I will have to seek a private apartment. I am here today to request assistance with the aforementioned flight and initial housing costs. It's still too early to commit to either of those, but:
The average cost of flexible one-way flights from where I am to either of the two Tokyo metro airports (Haneda and Narita) is running around $1200
I am doing some preliminary apartment scouting and am hoping not to exceed $800 per month (I will be traveling with suitcases and will need to properly store them). The apartments I am looking at do not require a security deposit or key money, but will probably come with a guarantor fee.
Now because I'm not going over there through one of the more common avenues - through a university or a job - I have to do it myself. Real life has meant that I've had to dig into my bank balance a bit, and after paying for the first six months I'm a little under the 2 million yen (~$14k) threshold that Immigration likes to see for a year's study. I'm lucky enough in that I will at least have a regular source of (unearned) income, as well as a financial sponsor; it's just the bank balance, flight, and accommodation that are hanging me up. Right now I am setting the initial goal at $3000, but I expect to move those goalposts at least once. Any extra will go towards a flight home for the Christmas holidays in December. After that, it'll go towards paying down my credit cards as much as I can prior to leaving the United States.
I can provide my conditional letter of acceptance from ISI, as well as the school invoice and receipt of the bank transfer for the first six months of tuition upon request (identifying information redacted, of course).
Because there's still a couple of months until I'm set to fly out I put together a GoFundMe (now that's a name I haven't used in a while) to idly collect whatever help I can. At the very least I just need this post to circulate enough to eventually cast a wider net outside of Tungle.hell.
GoFundMe
If you can't use GFM, V3nmo and P4ypal are also options:
V3nmo: @/venus3palette
P4ypal: @/fantasytheater
Again: I'm not in that much of a hurry, and the situation isn't dire! Thank you for combing my wall of text!!!!
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Merchant Credit Card Machines
#Merchant Credit Card Machines#merchant services#credit card processing#credit card merchant services#merchant account#merchant services sales#how to sell merchant services#credit cards#credit card machines#merchant account processing#credit card#merchant account pricing#credit card processing companies#merchant one credit card transaction fees#credit card merchant fees canada#credit card processors#merchant credit card processing services#credit card merchant fees comparison
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ActBlue disabled their credit card verification process so that as long as the card numbers are valid, the name and address don't need to match the actual card owner's.
No other donation platform allows this, and it results in higher transaction fees.
Why?
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Why You Should Shop Local for Your Payment Processing
Given everything that’s happened over the last few years, more and more people are choosing to shop local.
This seems to be the trend in pretty much every industry, with merchants and their supporters encouraging people in their area to shop locally.
But for whatever reason, this same sentiment isn’t shared in the payment processing industry.
It really is sad, because smaller local payment processing providers can actually be your best option, especially if you own a small business.
At the same time, smaller businesses like us weren’t insulated from the effects of pandemic restrictions the way the banks and the big box stores were, so having the support of our local community has become more important than ever.
That being said, we feel it’s important to highlight this issue, not just for our own purposes, and those of the businesses we serve, but also for the payment processing industry as a whole.
So, if you’re shopping around for payment processing, and you want to learn more about why local payment processors could be your best option, then you should definitely keep reading.
Because in this article, we’re going to explore why the payment processing industry doesn’t embrace the idea of shopping locally, why that needs to change, and how your business can benefit from choosing a local payment processor.
Why Don’t People Shop Locally for Payment Processing?
Before we get into why this needs to change, and how choosing a local payment processor can benefit your business, it’s important to explain why people don’t shop locally for payment processing.
First of all, we should point out that the payment processing industry is and always has been dominated by banks. And for the most part, banks are multinational conglomerates, which seem to have no allegiance to anything, including their customers.
That being said, the idea that people should shop local is at the bottom of these companies’ lists of priorities because they have nothing to gain from people shopping locally for their payment processing.
On the contrary, banks would rather get rid of this idea entirely, and they’re never going to promote it because that would cut into their business.
So, what ends up happening is most business owners are completely unaware that a local payment processing provider is even an option. And as a result, most of them end up getting their payment processing from a bank without even considering their options.
Simultaneously, many business owners have the erroneous belief that banks can provide better security, or offer a better deal, but this just isn’t true.
If you want to learn more about these falsehoods, you can check out our article on Two of the Biggest Myths About Payment Processing.
Long story short, there are plenty of local payment processors out there, and in addition to being able to offer the same level of security as the big banks, many of them are also able to offer lower prices and significantly better service.
Why Does This Need to Change?
Aside from the fact that the big banks are dominating this industry at the expense of business owners (most of whom are their customers), there are some other reasons why this state of affairs desperately needs to change.
For one thing, if you’re a local business owner, then you’re probably already aware that the more money you spend at other local businesses, the more money those business owners and their employees will have to spend at businesses like yours, instead of the big box stores, and this benefits the vast majority of business owners.
This also allows you to develop mutually beneficial relationships with more local merchants, which helps to unify and bolster the business community in your area.
Our founder, Surge Cumiskey, makes a point of doing this whenever she can, by shopping at her local produce market, for example, instead of going to the big supermarkets.
Another important point to make here is that shopping locally helps to strengthen not just your local economy, but also the Canadian economy as a whole.
Sadly, a lot of our competitors claim to be Canadian, but many of them are subsidiaries of foreign-owned companies that simply operate in Canada, which makes it even more important to be sure you’re picking a payment processor who’s 100 per cent Canadian, like us.
At the end of the day, we all live and work in this economy, so shopping locally, and encouraging others to do so, will indirectly benefit us, as well.
What Are the Benefits of Local Payment Processing?
At this point, you’re probably wanting us to get to the point already and explain how local payment processing can benefit your business.
So, with that in mind, below we’ve detailed several ways that your business can benefit from choosing a local payment processor.
Competition
As we’ve pointed out many times before, Canadian merchants pay an exorbitant amount for their payment processing, with the price being much higher than it is in most countries.
The main reason for this is that the banks have been taking advantage for far too long, benefiting from the fact that many business owners are unaware of how our industry works, and oblivious to the fact that they don’t have to get their payment processing from a bank.
Banks also have massive overhead costs, so the reality is they have to charge as much as they can possibly get away with.
And because banks are basically guaranteed a steady stream of customers, they don’t really have any incentive to lower their prices anyway.
So, if you want to save money on payment processing, one of the best things you can do is choose a non-bank provider.
Because if more and more business owners choose to get their payment processing from non-bank providers, eventually, this will give the banks a run for their money, and they’ll be forced to lower their prices in an effort to be more competitive.
Lower Prices
Believe it or not, nine times out of ten, we’re able to save people money on their payment processing.
But how are smaller local providers like us able to do that?
Well, we can’t speak for the competition, but our policy is to treat every customer on a case-by-case basis, instead of offering a one-size-fits-all service like the banks, which means we’ll take the time to go through customers’ statements to find out where we can save them money.
We also prefer to use what’s known as cost-plus pricing, which means that when credit card companies lower their rates, those savings will always be reflected on your bill, and we’ll never try to take advantage of the situation by padding your bill with “miscellaneous fees” as banks typically do.
What’s more, we don’t have the massive overhead that the banks do, so we don’t feel the need to squeeze every last dollar out of every customer, and we can actually focus on doing what’s in the best interests of our fellow business owners, like helping them to save money.
If you want to learn more about why smaller local payment processors might be able to offer you a better deal, we go into much more detail in our article, Want to Save Money on Payment Processing? Stop Giving Your Business to Banks.
Better Service
If you’ve ever called your bank to ask a question or get clarification on something, you’ve probably experienced the annoyance of being left on hold or being passed around between departments.
When it comes to large corporations like banks, this just seems to be the norm, but when you go with a smaller local provider, there are many reasons why you’re likely to get higher-quality service.
For example, banks have a huge number of customers, so they run their customer service departments like an assembly line, keeping people on hold for hours, pawning them off on chatbots, and doing whatever they can to get them off the phone as quickly as possible.
But when you call our support line, you’re not going to be sitting on hold forever, and in most cases, the first person who picks up the phone will be able to answer your question or resolve your issue.
You’re also going to be dealing with friendlier people who actually care about the best interests of business owners and have a better understanding of what it’s like to own a business.
At the same time, smaller local providers like us can offer you a level of service that you’re just never going to get from a bank.
For instance, depending on where the customer is located, and if it’s feasible for us to get there, we’ll actually send someone to help them hook up their terminal, and ensure they understand everything.
Moreover, while we don’t do tech support on our terminals, as that’s done by the company that provides the equipment, on several occasions, we’ve even gone down to a business’s physical location, helped them to phone the support line, and made sure that the problem was resolved.
And this is the kind of personalized service that you’re never going to get from a bank.
Are you looking for a local provider to help you save money on your payment processing? Give us a call today to learn more about what we can do for you.
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