Using Square, PayPal Here, Intuit GoPayment, or something similar..??

[DRU]

www.MobileSwiper.com has better rate plans than all of them.

Sorry for the plug but we just got our new merchant account options launched with a new partner that's allowing us to sell pretty much the lowest rates ever because of the Durbin Amendment. We're basically their guinea pigs (as this is a little bit of a gamble for them) and we're launching this as a pilot to see how it goes.

If you hate me for advertising I'm sorry. If you're using one of the others or have been thinking about it I think I could save you some money on fees.

[AustinChief]

Originally Posted by DRU

www.MobileSwiper.com has better rate plans than all of them.

Sorry for the plug but we just got our new merchant account options launched with a new partner that's allowing us to sell pretty much the lowest rates ever because of the Durbin Amendment. We're basically their guinea pigs (as this is a little bit of a gamble for them) and we're launching this as a pilot to see how it goes.

If you hate me for advertising I'm sorry. If you're using one of the others or have been thinking about it I think I could save you some money on fees.

I officially endorse this shameless plug. Is your logo the raccoon from Dora the Explorer? That'd be sweet. Swiper, no swiping!

[crazycoffey]

Infraction for spam given!
Oh shit....

[AustinChief]

Cool. I learned something! Didn't know what a non-qualified transaction was.. now I do!

You know, ChiefsPlanet is where all the netrepreneurs got their start. Zuckerburg, Ferdowsi, Cuban....

[NewChief]

We'll look into it. My wife's store is using Intuit at the moment.

[BigRedChief]

We have "Serve" right down the street from us. American Express's attempt to take over this market. Btw, PayPal just partnered with discover. And rumors are that Google wallet is in in talks with Visa.

No startups need to apply in this market.

[TLO]

Originally Posted by DRU

www.MobileSwiper.com has better rate plans than all of them.

Sorry for the plug but we just got our new merchant account options launched with a new partner that's allowing us to sell pretty much the lowest rates ever because of the Durbin Amendment. We're basically their guinea pigs (as this is a little bit of a gamble for them) and we're launching this as a pilot to see how it goes.

If you hate me for advertising I'm sorry. If you're using one of the others or have been thinking about it I think I could save you some money on fees.

MobileSwiper sounds like something bad... Like it will steal my identity or something. You've been MOBILE SWIPED!

[mikeyis4dcats.]

your fee schedule couldn't be more confusing.

And rewards cards are hardly being "phase out"....

[BigRedChief]

Originally Posted by mikeyis4dcats.

your fee schedule couldn't be more confusing.

And rewards cards are hardly being "phase out"....

All of these cards have plans to incorporate the reward cards into their cards. For instance Serve, they are right now giving X-Box rewards out on the Serve card. Transfer credits to another user that can be converted to cash and used where any American Express card is accepted.

They will shortly be the platform that you can transfer money through Facebook to another Facebook user.

The big boys are all over this now. They are just ramping it up now but within a year you will see major changes and options on how we spend/recieve/send money and credits.

[mikeyis4dcats.]

Originally Posted by BigRedChief

All of these cards have plans to incorporate the reward cards into their cards. For instance Serve, they are right now giving X-Box rewards out on the Serve card. Transfer credits to another user that can be converted to cash and used where any American Express card is accepted.

They will shortly be the platform that you can transfer money through Facebook to another Facebook user.

The big boys are all over this now. They are just ramping it up now but within a year you will see major changes and options on how we spend/recieve/send money and credits.

I was referring to Mobile Swipers fee schedule. They charge a higher rate for "rewards [credit] cards", but go on to say that most credit cards are not rewards cards and they are being phased out.

[Ace Gunner]

neat. thx for posting.

[DRU]

Originally Posted by mikeyis4dcats.

I was referring to Mobile Swipers fee schedule. They charge a higher rate for "rewards [credit] cards", but go on to say that most credit cards are not rewards cards and they are being phased out.

It's because of the Durbin Amendment. The interchange rates are capped for certain types of cards now, so all of the extra profit that was being used to offer rewards is no longer there for many types of cards. As such, many banks are moving away from these.

We didn't mean to make it sound as if they didn't exist anymore, but they definitely aren't as common as they were there for awhile.

[DRU]

Originally Posted by mikeyis4dcats.

your fee schedule couldn't be more confusing.

And rewards cards are hardly being "phase out"....

I'd be happy to answer any questions you have about it, and would love to hear some feedback on what you think could be done to make it easier to understand.

The confusion is definitely something we're trying to figure out (and it's a little tough as we merge all this mobile product into our original USB product for desktops/laptops).

The thing is, the Durbin Amended capped regulated debit cards (which is the vast majority of cards being used today) at .05% + 20¢ per transaction. All these people charging 2.7% are absolutely killing it on these transactions, which is why they're giving you hardware, giving you software, etc. They want you swiping cuz they're making huge profit margins on those. They're willing to lose money when you swipe non-qual cards because they know there aren't nearly as many of those out there now and they're covering it on the other end.

Group ISO, the processor that we've partnered with, is the only one we've been able to find to carry the interchange plus type of thing into the mobile space and actually pass the savings to merchants. Everybody else is sticking with the flat rate plans (which used to look very appealing before Durbin).

That said, we do offer a flat rate option of 2.5% if you'd rather stick with the less confusing option and pay more money in the end, although we're still .2% cheaper than what the others are offering on that plan.

There's definitely lots of information we're trying to get across on that site and we've got a long ways to go to get it where we want, but the product is available so I wanted to let you know.