Cryptopay forcing switch

[Greg Pack]

You figure the rate as a percentage of Net (After deductions) deposits? I always figured it as a percentage of the Gross (Total before deductions) CC Receipts.
At the end of the day not a lot different but it would make the % Less. I do this because % charges are on the gross , not the net.

I think you're right. In all honesty I couldn't have told you what my percentages were before last week. I just don't watch my numbers that closely. But there has been some concerned people on here and on the facebook group that seem quite unhappy with what they feel are excessive charges by worldpay, so I thought I would check. I was pleasantly surprised at sub 4% rates at most washes. IIRC I was paying close to 10% on the previous system by another vendor. I've got one wash still on unitec dial up. I need to check those numbers. I might need to switch

 

[Earl Weiss]

Our all in fee percentage was 4.8% this month.

Are you figuring on the Gross or Net?

If figured on a net of $5000 and your rate is .048 then your fees were $240.00 then Gross was $5240 and your fees are $240 then you would say the rate is .046. on the gross sales.

 

[OurTown]

Are you figuring on the Gross or Net?

If figured on a net of $5000 and your rate is .048 then your fees were $240.00 then Gross was $5240 and your fees are $240 then you would say the rate is .046. on the gross sales.

Gross sales minus all the fees.

 

[Earl Weiss]

Gross sales minus all the fees.

IMO that would be net. Which is OK if you are looking at developing a metric for your use. Hover the fees are charged on the sale amount before any deduction.

 

[OurTown]

IMO that would be net. Which is OK if you are looking at developing a metric for your use. Hover the fees are charged on the sale amount before any deduction.

I'm probably not communicating it very well. I calculated my percentage by dividing all fees into the gross sales. Is that how you are calculating it?

 

[Mchas]

Very helpful thread. For those who are posting rates from WorldPay, do you happen to know the “per swipe” fee and the amount over interchange? Those seem to be the two most important factors. I am being quoted 0.06/swipe and 0.25 over interchange. Both seem high, but they claim I should end up paying less than with First Data. Could someone look at their statement and check?

 

[Earl Weiss]

I'm probably not communicating it very well. I calculated my percentage by dividing all fees into the gross sales. Is that how you are calculating it?

So as to not confuse anyone with gross or net, I will say it is Total fees divided by total sales. For example Total fees of $40 divided by Total Sales of $1000 = .04 or 4%

 

[OurTown]

Very helpful thread. For those who are posting rates from WorldPay, do you happen to know the “per swipe” fee and the amount over interchange? Those seem to be the two most important factors. I am being quoted 0.06/swipe and 0.25 over interchange. Both seem high, but they claim I should end up paying less than with First Data. Could someone look at their statement and check?

I can't see on the statement the $.06 per swipe. The $.25 over interchange must be a max charge as we have one that is $.00, some that are $.22 (the highest) and a bunch in between.

 

[Mchas]

I can't see on the statement the $.06 per swipe. The $.25 over interchange must be a max charge as we have one that is $.00, some that are $.22 (the highest) and a bunch in between.

Thanks for checking. I think they purposely make the statements difficult to read. The amount over interchange isn’t $0.25, it’s 0.25%, but not sure how that would be reflected. The per swipe fee (or might be “auth fee” or similar) should show up as a 0.06 somewhere on there.

Another question for those with WorldPay - do you pay any chargeback fees? (Other than the refund of the payment, of course) They claim there shouldn’t be any, but that’s not what the application says. Curious what others are seeing.

 

[OurTown]

Thanks for checking. I think they purposely make the statements difficult to read. The amount over interchange isn’t $0.25, it’s 0.25%, but not sure how that would be reflected. The per swipe fee (or might be “auth fee” or similar) should show up as a 0.06 somewhere on there.

Another question for those with WorldPay - do you pay any chargeback fees? (Other than the refund of the payment, of course) They claim there shouldn’t be any, but that’s not what the application says. Curious what others are seeing.

Yes the statements are not all that easy to figure out. I don't see an "auth fee" but the over interchange fee shows up as a dollar amount per transaction. I don't remember if we ever had a chargeback fee. (there are no chargebacks on this statement)

 

[cleaning up mud]

While on the subject of cryptopay, has any one had trouble with a swiper starting a wash and not getting credit from the cc company? Our wash select two shows the washes, but some never get charged. We lost a lot of sales months ago, and its happing again.

 

[sparkey]

So I finally got my forced switch from first data to worldpay completed. Wow did I get screwed. I have had their service running for over 2 months now and can't get even get my monthly statements from them to see what I am paying. Their IQ website says I need to contact the system administrator. Well I have at least 5 calls in and am getting no-where, not to mention at least 2 and a half hours on the phone so far. Their verification method to make sure its you is beyond belief. You give them 6 different ways to verify its you and they want your bank account number and routing number on top of all that. Who request your bank account number for verification? I am about to just get rid of cryptopay all together. I didn't have these issues with first data.

 

[bert79]

Worldpay has been an absolute nightmare as far as user interface and customer service. Cryptopay however has been very helpful in helping us connect and navigate the IQ portal.

 

[Earl Weiss]

. I have had their service running for over 2 months now and can't get even get my monthly statements from them to see what I am paying. .

I got my first World Pay statement for November around December 10 in the mail.

 

[slash007]

I also received my statements in the mail, but mutiple emails and phone calls later I still can't access the portal online. I am also being charged a $3.50/month chargeback related fee that is not supposed to be there and they have not responded regarding the fee.

 

[Earl Weiss]

The worst may be yet to come. I cancelled (or so I thought) First Data 120219. I had a Clover unit in my Tunnel replaced with a different terminal for Worldpay. Then come 1/1/20 I get a notice clover is drafting my account $15.00. Apparently there was some charged for a SIM card I never used. After the telephone verification like Sparkey experienced they said they would reverse the charge and turn off the SIM card. Now I get an e-mail with processing statement for First Data. Apparently due to the weekend a couple of charges went thru Dec. 2. End result is I there were monthly fees of $172.27 for Total Charges of $93.75. Half hour on the phone for them to tell me since I called to cancel 12/2, I had to pay these fees.

 

[mjwalsh]

I'm am OK if someone wants to set me straight on the following: I can't help but think that somehow big oil companies with car washes might play a role in that they specifically are being taken care of "electronic cc-phone wise" & some of the "not as big of car wash owners" are being a bit shafted.

 

[MEP001]

I'm am OK if someone wants to set me straight on the following: I can't help but think that somehow big oil companies with car washes might play a role in that they specifically are being taken care of "electronic cc-phone wise" & some of the "not as big of car wash owners" are being a bit shafted.

It must be "Big Dollar Coin" who owns Worldpay, and they are singlehandedly trying to crash the entire "customers spend 50% more" credit card industry.

 

[Earl Weiss]

I'm am OK if someone wants to set me straight on the following: I can't help but think that somehow big oil companies with car washes might play a role in that they specifically are being taken care of "electronic cc-phone wise" & some of the "not as big of car wash owners" are being a bit shafted.

Since one location I have has gasoline sales I can state that the all in % is about 3.5% versus about 5.5% for the wash only location. The transaction size is much larger so that may account for the difference. You are not doing any better than a wash if you figure a 10 cent transaction cost and use an average 10 gallon sale that is 1 cent a gallon plus 3% or another 9 cents. So, you lose 10 cents a gallon on a 50 cent gross margin, and then again every month or so there is a $30 charge back. So, I don't see how oil companies, gs station operators are doing better.

 

[2Biz]

So guys, tell me....Is CC acceptance in bays really worth it $$$ wise and the hassle of dealing with the processing companies? I haven't gone there yet...The other two washes in town have CC, they are $.50 higher than me and their bay floors are always dry...CC acceptance isn't free for the owner so they are charging more to pay for it! My place does pretty well in comparison and from customer feedback! Seems as though the processing companies makes a lot of $$$ without lifting a finger! More so with a CW's smaller transactions!

Once you reach a certain price point (maybe above $2.00), it doesn't make sense for the customer to keep shoving quarters in the acceptor since it takes more time...Maybe switching to Dollar Tokens or Dollar coins is a better option than CC or Quarters? Then again it is probably location dependent...I live about 30 miles from a major city....We all still carry cash! Even I wouldn't use my CC at a CW!