Quote:
Originally Posted by Hitch
Again...I think you and others would be shocked at just how much those processing fees add up to, for your average biz. I pay THOUSANDS of dollars--yes, thousands--in processing fees, between Paypal, Stripe, credit card processors, etc. That's a LOT of money, and I'm an itty-bitty teeny weeny biz. I can't even imagine what it's like, for a huge business that transacts a lot!
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My heart bleeds for the poor starving insurance companies and there overpaid executives. Sorry, Hitch. First, unlike you, they can (and do) demand a break from the full cost of those fees. And second? Their profits clearly aren't being impacted materially.
I do not doubt that they are a significant part of your business costs. And for small business people, I both sympathize and am willing to accept that I might have to pay for the privilege. (BTW, Canada has
Interac Direct, which is a hugely better way to get money between individuals and/or businesses. It's instantaneous, has no fee on the recipient, and a small one on the sender.)