Subject:
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Re: CC acceptance
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Newsgroups:
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lugnet.market.theory
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Date:
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Fri, 21 Jan 2000 01:36:52 GMT
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Reply-To:
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Troy Cefaratti <[mnementh@nacs.net]antispam[]>
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Viewed:
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2606 times
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> eBay informed me that I cannot state I want surcharges in my auction
> listings, it's apparently against CA law.
>
> Further, I apparently can't do it for ANYONE, as MasterCard got wind of
> it and sent me a note stating that the bank accepting cards would be
> fined 2K (which would probably be passed through to my friend and then
> passed through to ME...)
Unfortunately, when you sign up for a merchant account it is usually in the
contract somewhere that you are not allowed to charge more for the service.
:/ Which really sucks in areas with low margins, If you are only make 10%
profit and have to give 2-3% of this to the bank, it's a pretty big chunk.
Also keep in mind that there is usually a per transaction charge of around a
quarter. Doesn't seem like much, and really isn't if people are buying
hundreds of dollars worth of stuff. However, when your most common item is
$6.50, it does add up pretty quick!
Not to mention the cost of the software/machine needed to process the
transaction. Usually a recurring monthly fee unless you buy your own, which
are expensive.
Oh, and did I mention the minimum monthly service charge.....even if nobody
charges anything?
Now, you may be able to get a deal where you can avoid some of these
charges. My point was just that for a small time operation, it is just not
worth the cost/hassle.
(I was also required to have a vendors license, issued by the state, before
i could apply. This leads to them hounding you for sales tax. Also was
required to produce a photo of my place of business, which at the time was a
10x10 room at my ISP!)
Troy
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Message has 1 Reply:
Message is in Reply To:
 | | CC acceptance
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| I'd like to accept credit cards in payment for stuff like factoring and for auctions. However I am not a big merchant with huge leverage. I also am not willing to NET less money because I offer this convenience to my customers. I thought I had found (...) (27 years ago, 20-Jan-00, to lugnet.market.theory)
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