Hi all,
We have developed a platform that helps Not-For-Profits collect donations. We are using Stripe to do the credit card processing and it works great. The problem is that Stripe charges 2.9% plus $0.30 per transactions. On a typical online donation of $20, 2.9% (0.58) + 0.30 = 0.88. That works out to 4.4%. There is no way we can be competitive with other NFP donation platforms that charge closer to 3%.
We would like to switch to using Moneris. Their program has a monthly charge ($40) - but they charge a much smaller fee on top of carrier fees. Their charges are also variable based on the card used. VISA’s fees are astronomical and varied, but MasterCard only charges around 1%. Don’t even get me started on American Express. Anyway - we worked it out that we can be competitive with other platforms that charge around 3% if we use Moneris.
We currently use Bubble.io’s Stripe plugin and the brilliant Stripe.js plugin by @copilot. Does anyone have a plugin already set up to make use of Moneris’s API’s? If so may we offset your development costs to let us use it or even pay you a monthly fee? Any other ideas?