[Cabal] Credit Cards

Evan Schoenberg evan.s at dreskin.net
Tue Nov 21 02:08:22 EST 2006

On Nov 21, 2006, at 12:50 AM, Sean Egan wrote:

> Visa and Mastercard both have tons of different card types (probably
> about 40 each), all with different rates, and we have no clue what
> those rates are until after it's charged. Each transaction takes a
> flat fee, ranging from nothing to $30, and they take a percentage,
> ranging from .1% to 3%. These are the fees applied by the credit card
> companies and are, as such, unavoidable.
> To cover the cost, the processing company also has a percentage and
> flat fee. The rates we're offered are .05% (Elie says the lowest she's
> ever seen is .1%), and a 10 cent flat fee.

So does that mean that the processing company aggregates the Visa and  
Mastercard rates, charging us 0.05% + $0.10/transaction?  Or that  
some value between $0 and $30 flat, plus .1% to 3%, plus 0.05%, plus  
$0.10/transaction, is the take-home cost?

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