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Doug Nebeker ("Doug")
OK here's a source.
average total cost for swiped card at retail business: 1.95% - 2%
average total cost for card-not-present (ie online): 2.30% - 2.50%
So 4% would be 1.5% above the top of that range.
That sounds high.
We switched from FastSpring to Stripe over a year ago, and haven't looked back.
With FastSpring we were paying 5.9% + $0.95 per transaction. And for non-USD payments we were also getting gouged for an additional 3% since they use exchange rates that are way off the bank rates - BTW, note that they don't advertise that at all!
With Stripe it's just 2.4% + £0.20 per transaction. For non-GBP (our home currency) payments it's 4.4% + £0.20 per transaction. And they use bank exchange rates too. Nice and transparent, and it was really easy to get started using it.
I highly recommend Stripe.
Stripe does not handle sales tax /VAT. That may not be an issue for some. I have a lot of sales in many EU countries so I would have to not only calculate and add the charge, but also remit payment. My current processor does all the above which is why they charge more -although they may still be a bit higher than other full service providers. I also suspect they are tacking something onto their credit card fees.
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