TOPIC: PayPal Alternative

Dominic, your deal with Jay ends next year correct? What happens then? Can the deal be renewed?

Hey Dom;

Do you have the fee structure break down on your card system?  Here's paypals:

www.paypal.com/cgi-bin/webscr?cmd=_displ...s-outside&countries=

Since I rarely exceed $2K p/month in use, I'm at 2.9% + .30c p/transaction.  No monthly fees, no set up fees and no other fees. 

Drew, yes we can renew it if it's still the best deal I can get you guys.

Will, it's $5 per month. Transactions start at 2.03% for cc's connected t a bank about and 2.32% for normal credit cards. Add .15 if it's a rewards card. The bank also charges a $50 setup fee right now, normall $100. I believe it's .30 a transaction too, I'd have to double check.

I wrote our own program for the cell phone and website processing to avoid the extra fees usually associated with them. You can have them enter the data into your phone if you want. With paypal they would have to have an account (I believe). Paypals still a great deal for low monthly transactions. Break it out and see what you'd save even at the highest rate and when you'd break even and start coming ahead with the startup fee.

PayPal has another interesting feature I use quite often.  You can send or receive money for free between friends and family if you both have a PayPal account.  For example my client today will send me the money without me generating an invoice through PayPal.  I'll pay no fees and he has a copy of our inspection agreement to verify payment.  I can't do it on credit card payments, but for PayPal accounts it works quite well...

Hmm, I'll definitely have to look into that. We have people pay us via paypal for the software and they have to pay a %. Is it only for 'friends and family.'

Aren't you and I friends and or family?  Don't I owe you some money from our weekend golf excursion? Would you like me to PayPal it to you free of any and all fees?

Check out the link I posted earlier in this thread.  Look at the paragraph above the fee structure....