Small business and CC surcharges

[quokka77]

Here is a recent article from SMH about the impact of cc surcharges. Offers a broad range of views from the sector, but in general there isn't much "news". Some hard figures on the lowest fees (as low as 0.25% for high volume businesses) charged by banks to businesses for cc payments is interesting. No wonder they're all excluding ATO one after another.
Card fees eating at small business | smh.com.au

 

[horseman]

Our small business has just had a good look into accepting credit card payments, we don't have a huge demand for it however, and because of this we have decided it is not a viable thing for us to have as the costs are far too high.
I thought PayPal had a viable solution, but after the headaches of trying to set it up and the woefull customer service we experienced, I have opted to never again deal with them.

 

[quokka77]

Stripe offer 1.7% flat fee for domestic visa and mc payments processed online i think. Not sure if that's any use.

 

[lovetravellingoz]

Our small business has just had a good look into accepting credit card payments, we don't have a huge demand for it however, and because of this we have decided it is not a viable thing for us to have as the costs are far too high.
I thought PayPal had a viable solution, but after the headaches of trying to set it up and the woefull customer service we experienced, I have opted to never again deal with them.

I have just set upmy own small business. For a sizeable part of my income stream I had to have an online payment facility.

Banks would not touch as I am a new business, and also given the nature of my business they assign it higher risk.

PayPal yes were slow to deal with, but I got there in the end.

As an upside, they have tight integration woth the software I use on my websites and to manage my business, and with the software I am using that integration took literally 5 seconds to do as all that was required was my PayPal email address and password.

That customers can pay without a PayPal account and use most Debit and Credit cards including Amex is a major plus. (Again this saves me time as people do not ring or call me asking about can I put it though ona different card - and yes they can also pay me direct for EFT (not thru PayPal).

Yes I would like lower fees. But it saves me a lot of time. So overall cost effectives is good.