What are the fees for credit cards?
There are two components of the credit card fee – Stripe fees and Merch App fees. Stripe has a standard cost of 2.9% + $.30 per transaction. We’ll be charging a single $0.69 transaction fee, rather than taking a percentage of your sales. Here’s how that breaks down with a sale from a t-shirt priced at $15.00:
T-shirt Sale Price = $15.00
Stripe Fees: (2.9% of $15.00 = $0.44) + $0.30 = $0.74
Merch Fees: $0.69
$15.00 – 0.74 – $0.69 = $13.57 in your pocket.
Friendly Tip: Don’t be shy about setting a minimum for someone paying with a credit card (maybe transactions over $10?). It can make accepting credit cards more worthwhile for you and, considering that this is a common practice at any 7-Eleven, it wouldn’t be unexpected for your fans. Plus, unless someone is buying a single sticker, they’re probably spending more than $10 anyways.