WorldPay/CryptoPay Fees

[Roz]

Just looked at my recent CryptoPay statement. There are 62 line items in the fees section, all of the items are challenging to understand (totaling 3.9% of revenue). There is an opportunity here for someone to figure out how to use a different CC processor with the swipers.

Just venting.....

 

[MEP001]

I've got to get CC acceptance at mine, trying to decide between Cryptopay and Nayax. I know you can't bring your own processor with Cryptopay, don't know enough about Nayax but I'd like to try it.

One thing to keep an eye out for with Cryptopay is them dinging you with a PCI compliance fee. Realistically they can't charge you that because the hardware is fully compliant, plus the compliance itself isn't even mandatory.

 

[OurTown]

Just looked at my recent CryptoPay statement. There are 62 line items in the fees section, all of the items are challenging to understand (totaling 3.9% of revenue). There is an opportunity here for someone to figure out how to use a different CC processor with the swipers.

Just venting.....

I don't think it is even possible because you need Cryptopay for the swipers to work and of course they won't let you use another processor. Do you know of another CC company that charges less than that after all fees? In the big scheme of things I don't think they charge too much. My biggest gripes are Worldpay's customer service and their web portal. (logging in) I would pay MORE to go with another processor.

 

[OurTown]

I've got to get CC acceptance at mine, trying to decide between Cryptopay and Nayax. I know you can't bring your own processor with Cryptopay, don't know enough about Nayax but I'd like to try it.

After reading many threads on here and the Facebook car wash groups I still don't have the warm and fuzzies about Nayax. So many issues with getting it to work and customer service apparently won't help much with that.

 

[Roz]

There are a few CC companies that charge about 1% less (Chase Business for one) and no hidden fees. I would have less of an issue with the 1% if WorldPay had any customer service. Impossible to reach a human, and then try to find one that can actually help you (most are overseas). No doubt Cryptopay is a brilliant system (and much easier to use than Nayax). Would be nice to see the tap and swiper in one unit the size of a Nayax unit. The Nayax website is poorly designed in comparison to the simple CryptoPay site. Both websites have room for improvement but until an new competitor arrives change will be very slow.

 

[mjwalsh]

if WorldPay had any customer service. Impossible to reach a human, and then try to find one that can actually help you (most are overseas).

I have noticed an increasing trend towards some of the umbrella root corporations ... who just expect their distributor or an original setup company to handle more & more of the ongoing managing & whatever support is needed.

 

[Wash4Life]

There are a few CC companies that charge about 1% less (Chase Business for one) and no hidden fees. I would have less of an issue with the 1% if WorldPay had any customer service. Impossible to reach a human, and then try to find one that can actually help you (most are overseas). No doubt Cryptopay is a brilliant system (and much easier to use than Nayax). Would be nice to see the tap and swiper in one unit the size of a Nayax unit. The Nayax website is poorly designed in comparison to the simple CryptoPay site. Both websites have room for improvement but until an new competitor arrives change will be very slow.

I wish Cryptopay could/would dump Worldpay.

 

[Earl Weiss]

Cryptopay / Worldpay runs about 5-5.5% All in. Tunnels with other processsors run about the same. Gasoline with other processor runs about 3.5% but ticket average is probably 10x that of the tunnels and Bays.

 

[Keno]

After reading many threads on here and the Facebook car wash groups I still don't have the warm and fuzzies about Nayax. So many issues with getting it to work and customer service apparently won't help much with that.

I can only speak from my experience, but nayax customer support got me up and running without issue on my first call. However it does take a few hours to get in touch with CS if you don't call first thing in the morning.

 

[slash007]

My Worldpay fees are about 4.5% all in. I also use Nayax on vacs at a site and on all my vending machines. They charge 5.5%, but allow you to add that as a surcharge and pass it along.

 

[Keno]

Nayax fees are based on average ticket and minimum ticket and are negotiable

 

[Greg Pack]

Worldpay "all in" with SS and IBA combined is right at 4.0% for me. I did a speadsheet and nayax was going to cost considerably more, (a couple of percent if I recall) to the tune of a several hundred bucks per Month. They did say they would look at my average ticket and see if they could be reduced.

 

[Roz]

I assume you are adding the separate exact fees to your WorldPay cc fees. Many people forget about them since they are invoiced separately.

 

[sjb]

Roz, what do you mean “separate exact fees”. …. Are there additional fees beyond the info in the monthly statements…?

 

[Roz]

Check your bank statement. Some processors like TSYS charge your bank account their fee and e-xact also will charge you their fee. E-XACT does the actual work and the other firm is the face. Depends on who the top processor is. Some will roll the e-xact fee into their fee others do not.

 

[sjb]

Assuming, (scary word)…. On the last page of the Merchant Statement, there is the “Total Fees” and it works out to 3.5% of the net sales…


Visa Debit #1
Visa Credit #2
VS CPS SMALL TICKET #3

 

[Earl Weiss]

Assuming, (scary word)…. On the last page of the Merchant Statement, there is the “Total Fees” and it works out to 3.5% of the net sales…


Visa Debit #1
Visa Credit #2
VS CPS SMALL TICKET #3

3.5 of net sales or gross sales?

Also are you strictly SS or do you also have IBA?

 

[Greg Pack]

I divide my fees charged by total sales and it is usually 3.9-4%.

 

[Earl Weiss]

Last Month SS Only Cryptopay / Worldpay statement

Deposits Total $4097.50.

Last Line Item - Total fees $206.74..


206.74 / 4097.5 = .05045 or 5.045%. wondering why I am so much higher unless you have IBA as well.

 

[sjb]

Net sales
October
Best month ever
8 bay SS +2 new dog washes
Starting 26th year, Oy!

Well, we’re frozen over now,
Wishing everyone a happy healthy and prosperous 2023 and beyond!