Useless factoid about credit card merchant account fees.

[femmefan1946]

I was in my favourite coffee shop* today and asked the owner how much he paid in credit card fees.

His answer, 2.9%, surprised me.

First because his average sale would be between $4 and $10, since he only sells beverages and pastry.

And second because that is the Paypal domestic rate (plus 30 cents of course).

While few eBay sellers actually have merchant credit card accounts it is interesting to learn that even quite small (if busy) businesses have the same domestic rate as our PP rate.

*Hide and Seek, Oak Bay Avenue, Victoria BC

** Try the homemade poptarts.

[recped]

Maybe they have a merchant account via PayPal, or Square or Adyen or one of many others. Price competition here in Canada has expanded greatly since the lock on services by the big banks was the norm.

FYI - Rates should be less for card present transactions.

From what I see, Interac is used much more than credit cards for these low value transactions.

[marnotom!]

Apropos of nothing, I miss Ian’s Coffee Stop.