@CreditCuriousity wrote:Williams is who i was thinking... still don't know why they would lose money on rent? Can see MC/Visa as fees are around 2% so profit can be made there, but amex is 5%..Trying to figure out how that would work out so they don't lose money?
They may not be aware of it, or they may have a tiered pricing plan where the transaction costs are essentially hidden by the tier.
If they could make all their transactions qualified or under interchange plus pricing it's possible they might make some money on it. It's not a lot, likely would be a billion people doing it if there were money in it as it's trivial to compete against; priced as a commodity product right from the outset.
Even if they were lazy and using authorize.net's merchant services in addition to their payment gateway, would still be making 0.1%, and could likely do better than that if smart. One dude out of a garage business plan, not hard, could be done.
