Using Stax for MS

[Specialized]

Just curious what people think. Stax is a merchant payment processor that charges a flat rate of 99 per month and about 8 cents per transaction. Their transaction limit is 500k per year, effectively getting high volume sellers an excellent transaction rate. Would it make sense to get a Stax account and charge your own credit card up to 500k for MS? Would it be wrong or get you in trouble?

[yungermanchik]

Why doesn't Vzakeini just use them instead of this:

Vzakeini charges most members $1 every week at candle-lighting. Until now, we have always offered the ability to cover the average 12 cents processing fee for the weekly donation. Even thought hat did not cover the full processing fee, it was still within reason to be able to fund our weekly couples fully.

Unfortunately, the banks have has been consistently increasing transaction fees over the past two years, and too much of the funds needed for the couples (and of your donation) every week are going to the banks.

We have been brainstorming how to proceed, and we came up with a few options, and we would love to have your opinion.
We would love to know your opinion.

 

[Alexsei]

And how do they make money?

[HoKo]

Just curious what people think. Stax is a merchant payment processor that charges a flat rate of 99 per month and about 8 cents per transaction. Their transaction limit is 500k per year, effectively getting high volume sellers an excellent transaction rate. Would it make sense to get a Stax account and charge your own credit card up to 500k for MS? Would it be wrong or get you in trouble?

"*Subscription prices are determined by processing volume and do not include cents per transaction. Processing up to $250,000/year: $99/month, $250,000-$500,000 in processing/year: $199/month, over $500,000 in processing/year: custom pricing."

It would be $199 per month for your plan.

Where do you see the 8 cents per transaction? And what's the max dollar amount per transaction?

[yosefsv]

Would it make sense to get a Stax account and charge your own credit card up to 500k for MS? Would it be wrong or get you in trouble?

Would be wrong and get you in trouble (shutdown).

[Specialized]

"*Subscription prices are determined by processing volume and do not include cents per transaction. Processing up to $250,000/year: $99/month, $250,000-$500,000 in processing/year: $199/month, over $500,000 in processing/year: custom pricing."

It would be $199 per month for your plan.

Where do you see the 8 cents per transaction? And what's the max dollar amount per transaction?

My mistake. But I saw somewhere that there is an 8 cent charge.

[AsherO]

Maybe for liquidating vGCs, but likely will get shut down pretty quickly and risk tying money up in the process.

[S209]

Just curious what people think. Stax is a merchant payment processor that charges a flat rate of 99 per month and about 8 cents per transaction. Their transaction limit is 500k per year, effectively getting high volume sellers an excellent transaction rate. Would it make sense to get a Stax account and charge your own credit card up to 500k for MS? Would it be wrong or get you in trouble?

I’m going to go out on a limb here and assume they (officially) don’t charge a markup over the credit card processing fees they pay (or 8 cents per transaction), but you still need to cover the regular interchange fees they pay.


ETA: As I suspected, they say “O% markup over interchange”. Naturally, since it’s a Fattmerchant company known for their gimmicks. Just a regular credit card processing company, nothing to see here.