CryptoPay Fees

[MDrost1]

I agree. Yes, you use there processing co.

Is .25% and $.06 per transaction outrageous? I am new to this. My current CC co. charges .30% and $.10 per transaction. Going to Crypto seems like a good choice. There are no monthly fees. Just the % and transaction fees. As far as I can tell.

 

[slash007]

I agree. Yes, you use there processing co.

Is .25% and $.06 per transaction outrageous? I am new to this. My current CC co. charges .30% and $.10 per transaction. Going to Crypto seems like a good choice. There are no monthly fees. Just the % and transaction fees. As far as I can tell.

I use First Data with my Cryptpay and they charge me .15% and .04 per transaction. I just spoke to them and they lowered it to .10%. They charge a monthly fee of $9.95, but overall it is still much cheaper than going with World Pay at .25% and .06. Of course these rate are all in addition to the interchange fees that they don't control.

 

[p.arrindell@gmail.com]

I have CryptoPay in 7 wash bays, 8 vacuums and in my automatic bay (with Hamilton gold line acw retrofit.). Their system is wonderful, their customer service is great. That said, I look at my daily sales vs my bank deposits and their fees amount to about 9.589% of daily credit/debit card sales. It appear that you have two Processing options with CyptoPay. First Data who has a really inadequate merchant interface, and WorldPay who has a good merchant face but is really expensive. I have had other small ticket processors contact me offering total rates in the range of 3.5 to 4.5% but are unable to work with CryptoPay because of their proprietary coding. To summarize. I am a CryptoPay believer but I cannot sustain their predatory processing rates.

 

[Earl Weiss]

What are the plusses and minuses of the merchant interfaces?

 

[slash007]

I have logged into First Data online probably only once or twice in the past year. One thing they lack is the ability to go online and issue a refund to a customer. With my other processors, you are able to do that. It really hasn't been a problem as I give out a refund only 2-3 times a year.

 

[p.arrindell@gmail.com]

Correction. I miscalculated what I was paying. It turns that I actually pay in the range of 5% which is reasonable

 

[MDrost1]

Yup. Talked with WorldPay. I had a great chat with Che. Their fees are acceptable and very simple. I am installing my ACW retrofit kit soon!

 

[MichaelGlenn]

Yup. Talked with WorldPay. I had a great chat with Che. Their fees are acceptable and very simple. I am installing my ACW retrofit kit soon!

Hey let me know how your install goes. I also have an ACW but haven't attempted the CryptoPay install yet.

 

[MDrost1]

Installed today in 3 hrs. Looks great working well, so far.

 

[Whale of a Wash]

You do know that cyptopay also makes money from every transaction.

 

[MDrost1]

I don't see that at the end of the month. Where do their fees come from?

 

[Whale of a Wash]

They get kickbacks from World pay!

 

[Greg Pack]

With such a low priced system I assumed they got a kickback of sorts. I can certainly handle the 5% that is being tossed around.

 

[MDrost1]

I agree with that sentiment.

 

[pgrzes]

I just installed cryptopay in 7 bays and did 3 of my 7 vacs so far. As of right now I am not really thinking about the fees. Its $$ I dont have to handle, and I think its really tough to figure out, but I feel pretty strongly that with CC and count up timers people will spend more, plus how many people am I now getting because I am the only wash that has CC in bays?? If I do $1000 a month and $500 of that is extra $$$ in bank who cares about the 5-6%? More people, more $$ and less to handle. It seems to be a pretty dependable device, so in the 2 months Ive had it in I am very happy. I plan to install on all of my vacs as time goes and hopefully the $$ amt keeps increasing. My bigger concern is what is Cryptopay going to do for the swipeless cards that are coming?? Will there be an update or will I need to by new devices after just purchasing these??

 

[MEP001]

It will probably be years before they get rid of mag-stripe cards. I've been getting the chip cards from my bank for three years.

 

[cleaning up mud]

We have cryptopay on our WS11 and our bays, my wife has found through her accounting background that not all of our cc charges have ended up at Worldpay!!!!! The swipes show up on the crytopay site but not on worldpay, working with both to see what the heck is going on. So beware!!!!

 

[cleaning up mud]

something new today to think about, we have a big bay for trucks, one swiped his card, worldpay approved it for $10.00, BUT! he swiped it again and due to the cc charges and a 2 hour window from cryptopay his card did not go through another credit check, so he used $24.00 worth of time and we lost $14.00 due to worldpay not authorizing more then $10.00. Our max is set at $15.00

 

[MDrost1]

Huh? I don't understand what you are saying?

 

[pgrzes]

something new today to think about, we have a big bay for trucks, one swiped his card, worldpay approved it for $10.00, BUT! he swiped it again and due to the cc charges and a 2 hour window from cryptopay his card did not go through another credit check, so he used $24.00 worth of time and we lost $14.00 due to worldpay not authorizing more then $10.00. Our max is set at $15.00

I have had multiple swipes both at the same swiper and multiple swipers within the 2 hour window with no problems. I have had 2 people complain that they left the wash and checked their credit card and had a $10 charge when it should only be a few dollars. The final amt is charged apparently after the 2 hour window as a final amt. I guess its kind of like going to a hotel, you get approved for an amt. but until everything is finalized the total is not charged.