It depends on your transaction amount, the fees can easily exceed 8.5%. When I had no change the other day and paid 45 cents at a parking station with a credit card I can guarantee the fees were more than 8.5%.
That's exactly what I meant, I paid $.45 but the city likely paid $.31 in fees. Braintree for example would run 2.89% + $.30. That's a very high percentage (69%).
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It depends on your transaction amount, the fees can easily exceed 8.5%. When I had no change the other day and paid 45 cents at a parking station with a credit card I can guarantee the fees were more than 8.5%.
We're talking about merchant fees here. Not what a credit card user pays etc.
That's exactly what I meant, I paid $.45 but the city likely paid $.31 in fees. Braintree for example would run 2.89% + $.30. That's a very high percentage (69%).