Why are Wisepad rates higher than local companies for debit transactions?

ShawnBouchard
Pathfinder
95 1 88

I'm not in the mood to type out a big speech. 

 

Am I reading this right?

Wisepad 3:

2.6% across the board for any payment processed in the terminal. Including debit and all forms of credit. 

 

Meanwhile, external terminals from local companies are only charging 10 cents per debit transaction. 

 

Debit transaction on $500

 

Wisepad: $13 in fees

Traditional external terminals: 10 € in fees

7 year e-commerce, 13 years B&M store. www.shopbraeheid.com
Reply 1 (1)

ShawnBouchard
Pathfinder
95 1 88

Following up on this. 

 

Shopify? Are you working on lowering interac processing fees? my traditional terminal charges me 10 cents per transaction. $5000 sale? 10 cents in fees. 

 

You guys are trying to charge us 2.6% in processing fees on debit, while competitors are charging 10 cents. 

 

2.6% is high, but reasonable on credit card processing. But debit? Take a hike

7 year e-commerce, 13 years B&M store. www.shopbraeheid.com