Re:Stripe Is the New PayPal
by mootothemax on Friday June 19, 2015 @04:50AM
(#9743655)
"Amount over $2400-$2500 mark suddenly experiences a surge and it is almost 3.0% to 3.5%"
Did you read the rest of that comment?
"I can cite figures for Remittance industry only."
From Wikipedia:
"A remittance is a transfer of money by a foreign worker to an individual in his or her home country."
https://en.wikipedia.org/wiki/Remittance
Frankly, I'm kinda surprised that they're able to operate in that industry with credit cards at all, given how attractive it'll be to credit card fraudsters.
And what is your point? The remittance industry is not a valid business?
It is very common knowledge that 1% is the cutoff. Are you seriously questioning that?
I don't doubt 1% is a common standard but the parent was making the assertion that "all the businesses that currently exist and accept credit cards are doing so without more than 1-2% chargeback rates".
Citation needed.
https://www.quora.com/Online-Payment-Gateways-and-Processing...
"Amount over $2400-$2500 mark suddenly experiences a surge and it is almost 3.0% to 3.5%"
I have personally had times where my chargeback rate has been above 2%.
Being able to accept credit cards is more of a right rather than a privilege given how much of a monopoly they have and it is virtually impossible to accept payments online through any other means.
I take it you are in favor of credit card companies being able to block payments to arbitrary entities such as wikileaks?