Ask HN: Why do all payment processors charge 2.9% + $0.30 per transaction?

Re:Ask HN: Why do all payment processors charge 2.9% + $0.30... by xfactor973 on Friday October 11, 2013 @11:20AM (#6533681)

Dwolla doesn't charge that but I have no idea who uses them

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Re:Ask HN: Why do all payment processors charge 2.9% + $0.30... by trebor on Friday October 11, 2013 @11:37AM (#6533775)

Dwolla doesn't charge that way because they're not billing credit cards. You give them your bank details and they do an ACH transfer with them, IIRC.

I've heard both good and bad about them, but they don't have large use yet.

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Re:Ask HN: Why do all payment processors charge 2.9% + $0.30... by philrykoff on Friday October 11, 2013 @12:32PM (#6534157)

You are right. From my POV their problem is that you cannot use them for international projects (non US customers cannot use ACH; non us businesses cannot get their money out of Dwolla)

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Re:Ask HN: Why do all payment processors charge 2.9% + $0.30... by jsonne on Friday October 11, 2013 @02:43PM (#6535050)

That's correct on the ACH bit.

In so far as large use cases, they have some really good traction in the bitcoin market. I believe that they are the go to for transferring USD in and out of MT. Gox.

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Re:Ask HN: Why do all payment processors charge 2.9% + $0.30... by gustoffen on Friday October 11, 2013 @03:46PM (#6535489)

Not anymore: http://www.coindesk.com/dwolla-bitcoin-companies-virtual-cur...

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Re:Ask HN: Why do all payment processors charge 2.9% + $0.30... by Yaggo on Friday October 11, 2013 @12:13PM (#6534025)

Bitcoin doesn't (practically) charge that but I have no idea who uses them (except few crypto geeks/criminals/speculators)

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Re:Ask HN: Why do all payment processors charge 2.9% + $0.30... by antidaily on Friday October 11, 2013 @01:50PM (#6534673)

It's ACH, which is great for fees but has numerous drawbacks as well.

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