Cryptopay Merchant Rates

[GoBuckeyes]

Now that a lot of you have installed Cryptopay in your Self Serves and Automatics and have gotten a few statements under your belts, how are the rates and fees? Are they what Crytopay had advertised? I can't recall what they told me, but I remember them saying they had a deal worked out with WorldPay. WorldPay is my current processor and they are raping me, currently to the tune of 8.4% to 12.5% (all in) depending on location and how busy they are.

 

[Earl Weiss]

Last staement, All in ... fess were 5.374% of total. I clear thru First Data . The Chicagoland association works with First Data.

 

[GoBuckeyes]

Last staement, All in ... fess were 5.374% of total. I clear thru First Data . The Chicagoland association works with First Data.

Thanks Earl, however, you don't use Cryptopay do you? As far as I know, you don't have a choice of processors with Cryptopay which is fine so long as their rates are as promised.

 

[Earl Weiss]

Thanks Earl, however, you don't use Cryptopay do you? As far as I know, you don't have a choice of processors with Cryptopay which is fine so long as their rates are as promised.

Yes, I use Cryptopay

See:
https://www.youtube.com/watch?v=HPBxcHLP3mg&feature=c4-overview&list=UU2oDMe1Aklko_tcNnsQJJaA

at the location where I gave you the above figures for. It is an 8 Bay SS and EE Tunnel with a $3.50 Base price. for the tunnel, so I don't think tunnel transactions affect the average cost. As I recall there was a choice of First Data and one other. I use First Data.

 

[MonroeStreetPowerwash]

I have been going through my statements and also see that worldpay is charging in the neighborhood of 9-12% for the transaction fees. Is cryptopay still only allowing a single processor? Going to be giving them a call, but wanted to see if other cryptopay users have been able to get a different processor.

 

[mmurra]

Worldpay is absolutely the worst company to work with; telling the truth is not an option for them. You can try to contact the Costco provider (Avalon?) who are straight shooters and very competetive. Get them to bid your account (even if they cannot work with you for interface reasons). Fax your competetive bid from Avalon to Worldpay and you may get somewhere. You need to have a written comptetive bid in hand before you go to war with them.

We finally dumped Worldpay ater paying thousands of dollars too much over a period of years. I still kick myself for not being more on the ball. I now track the three providers for my businesses every month. This is an area that needs constant attention because many of the providers will rape you while you sleep (good rates to start, followed by "the creep"). Stay awake; watch out! Mark

 

[cleaning up mud]

gobuckeys, what did you ever find out for sure, I was just getting ready to get cryptopay for one of our locations.

 

[MonroeStreetPowerwash]

Looks like your stuck with Worldpay as the credit card processor. The crypto-pay system has been pretty much fault free since installing into the bays. Not much you can do about the credit card fee's.

 

[GoBuckeyes]

gobuckeys, what did you ever find out for sure, I was just getting ready to get cryptopay for one of our locations.

Mud, unfortunately I have shelved doing anything with this for the time being. Had a few things that jumped up the priority list.

I would still like to know if those that installed Cryptopay with WorldPay have seen their 'all-in' fee percentage rise now that they have some time under their belt? I still think it is a good system, however my concern is what happens a few years down the road with WorldPay.

 

[cleaning up mud]

How does the cryptopay work with your autocashier? The washcard guy told me with that reader you would have to swipe a card several times to get a top wash, for example $10.00, you might have to swipe a card 5 times to add up to that amount. that sounds terrible to me! is that the way it works?

 

[pcb]

It doesn't work that way on a Hamilton autocashier. The system for the autocashier is a little higher priced because it comes with the new dixmor timer with a wifi card on it. Somehow that communicates with the swiper to determine the price charged. It is just like any other credit card acceptance. Swipe the card, choose a wash and that's it.