I've seen several comments on here about how high a percentage is being charged by credit card processors and this is something I've wondered about for a while. There are some sites where I feel like I must be missing something.
The site is used to pay online with a credit card for your children's school lunch and it typically charges a $1.50 "convenience fee". It is my understanding that they are not charging schools for the use of this service (I may be mistaken); at Stripe or PayPals fee rates this service would be losing money. Every $100 would incur at least a $2.00 fee. Here a low cost processor like Worldpay and Handepay would allow for a profit; albeit a very small one.
As an example; https://www.sendmoneytoschool.com.
The site is used to pay online with a credit card for your children's school lunch and it typically charges a $1.50 "convenience fee". It is my understanding that they are not charging schools for the use of this service (I may be mistaken); at Stripe or PayPals fee rates this service would be losing money. Every $100 would incur at least a $2.00 fee. Here a low cost processor like Worldpay and Handepay would allow for a profit; albeit a very small one.