![]() ![]() Here’s why using those apps to save a little cash was a mistake: 1. The $10 was not worth the hassle on me or my customers. Plus, when I was earning less money, I was really only saving $10 or less per transaction. And, it wasn’t cool of me! It cost me more time. ![]() I can speak bluntly about this because I have been there! When I was a new business owner, I took payments only on Venmo, Cash App, or checks in the mail. Instead of whining about the percentage, be a business owner, and set your pricing to where you aren’t “hurt” by the fees. Instead of charging you a monthly flat fee for using their service, they take a small percentage of what you earn. In order to operate, they have to make money. Here’s the thing though… payment processing companies are businesses, just like you are. These fees happen with any normal online payments - debit card, credit card, and bank payments all take a fee. When you allow people to pay you online through their own payment choice, the payment platform takes a very small percentage of the total. All of these are ways to avoid the 2.8% - 3% processing fee. If you’re asking, “Is it okay to use Venmo for business?”, the answer is no! Oftentimes new business owners only accept payments via Venmo, Cash App,, or checks in the mail. ![]() In Facebook groups, I often see this type of question: “Does anyone have a good recommendation to get around not paying fees for receiving money? I know it's the cost of doing business and is more convenient for clients, but I hate the fees! Thanks!” And, it’s a problem! ![]()
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