Payment Processors
 

I've been scouting some processors for a few months now, and finally hooked up with my own guy to discuss the options.

I've been offered some pretty good deals. One, in particular, was a half a percent over interchange which would put me somewhere at like 2%.

Currently, I'm at 5.19 and he says he can't compete with the other sites and that while they will put on paper one thing, I will find something else when the statement comes in. I was also worried about this.

Is there anyone who actually pays just half a percent over interchange? Do you think they are far-fetched with their offer?

What's the going rate?

Hi,

What is the going rate for what? What are you selling? Also, the do you mean by 5.19?

Thanks

I'm selling phone sex for 22 years. My current rate is 5.19 and the rate I am being offered by one company is half a percent over interchange which should be around 2%. I think a 3% difference is pretty big. No one else we spoke with could compare to the rate this one large company is offering.

It saves a significant amount of money if those figures are true. I'm wondering what the average rate for high-risk merchants is and if someone has experienced a processor telling them one rate and then them seeing another on their statement.

Sometimes it's worth it to pay the extra money because no one ever messes with me....but saving 11-12k a month sounds really great as well. Might be worth the hassle.

5.19% is about right assuming you have your own merchant account. Normally they will add around $0.3 cents per transaction and chargebacks / refunds get charged at around $30 bucks

2% sounds like bullshit to me unless they are hiking up the per transaction charges

If you are being offered interchange for adult phone sex, they are moscodong you as the rates cannot be that low.

Listen to Mitch he knows what he is saying.

If a deal sounds too good to be true it probably is :2 cents::2 cents::thumbsup

Thanks for your answers.

I keep having the same feeling, but my numbers guy has vetted them quite a bit and he's confident. He has never, however, worked in the adult industry so he's never been jaded by the stories of locked money, pulled merchant accounts etc.

I'll find out what they are coding me as....they did talk about that in depth.

I guess the plan is to send 10 or 20k a month in sales their way and see if the rate really is what they say after a few months. :Oh crap