Processors: Can We Charge A Checkout Fee?
 

With that new law thats coming into effect on Sunday are we allowed to add a checkout fee to the cost of our membership subscriptions or; are you going to be doing this for us and if you are, does that mean that our processing fees will go down?

Over a 12 month period, 4% actually works out to a lot of additional realized revenue.

http://money.msn.com/credit-cards/ar...6-91d775e29b3b

IMHO, as sales are so hard to come by in the first place, I think that a checkout fee may be a darned good way to put off many potential signups.

Remember that we are damned lucky in the first place to be able to charge for the things that we do and the % of CC fees bothers me not in the least. I mean by doing IM you do not have to maintain a brick-and-mortar facility, you can, if you're smart, hide tons of your income, work only a few hours a day after you are set up and running, you get to look at beautiful women all day long and if you are lucky, fuck a bunch of them, so why rock the boat?

I think by charging a checkout fee we would lose more than we gain, this based on many years in retail, around 17 yrs in IM and the last six or so in adult. Look at it from the consumer's standpoint because the consumer is who signs up with you.

:2 cents:

You have it back to front.

Think of it this way - DONT charge admission, for them to take a shit in the toilet...
INSTEAD, charge them for the toilet paper at the end... :2 cents:

CurrentlySober is correct on this one.

Can we charge a processing fee? I mean, when I hit the local deli or gas station they have a little sign that says "includes a sixty five cent processing fee". Why can't we do the same?

because there isnt someone giving away free sandwiches and gas that they have to compete with.

We can.... if you charge $24.95 for a site, up it to $25.95

Studies show people don't like being nickle and dimed and % that walks away from closing the purchase is far higher than the 4% that should be absorbed into the monthly membership price.

You could ... just watch the numbers. There are psychology studies behind the price points put out by established mainstream companies. There are plenty of opportunities to upsell your members inside your site for additional revenue and offset the 4% surcharge.

http://i.imgur.com/z0W2idS.jpg

Glad that you agree and understand... :thumbsup

Wrong. You're a business, and should run it like one. The 'cost' is passed to the consumer.

Most customers understand this concept, as it exists all day long in the real world. The problem with this industry is you have so few people who know how to actually market effectively to convert a sale in the first place, much less run a business.

If you are confident in your product, then you should understand people will PAY for that service. If not, find a business you are confident about. Like flipping a burger and upselling them some fries.

:2 cents:

When myself an BF have communicated privately... (ON ONE OCCASION) its fair to say that we didn't see eye-2-eye...

But I agree with this 100%

Bottom line?
You are making MONEY... Not FRIENDS..