Quote:
Originally posted by NiteChatDotTV
so all of us, new and old 3rd party customers, USA and Foreign companies will all be paying the $750 Visa fee?
I'm just a little confused i guess with all this talk of merchant accounts and fees and crap.. someone make it make sense!
|
Here's the basic rundown:
3rd party processors' whole sales pitch revolved around the fact that you could set up cc processing with no up front fees, and use their merchant account instead of having your own. Thus eliminating the hassle of the paperwork and of course, the money.
Now, however, in order to use these 3rd party processors, you will still have to submit this paperwork, disclosing all of your information to Visa, pay a $750 fee for each processor that you want to use, and be held just as responsible as if you actually had your own merchant account, even though you do not. PLUS, as an added bonus, you still get the privelege of paying the processor their transaction fee of 14% or 15% or whatever it may be.
Now then, the next little twist for non US companies, is that you will also need to have a United States presence. Meaning, if you do not have a US company and do not live in the US, you will need to establish that first and foremost. Which, of course, means that you will now also be paying US taxes.
So, while we're all getting fucked, you guys that have non US companies are getting fucked dry and often.
Thus, the majority of this day has been discussion ranging from anger management over this, to various alternative solutions to simply getting on your knees and taking it down the throat like a good boy.
