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PaymentsDad @PaymentsDad

Dad of one (so far) - Building a payments company with my father. Sharing our journey and insights here on X. Joined September 2023
  • Tweets
    73
  • Followers
    22
  • Following
    122
  • Likes
    51
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PaymentsDad @PaymentsDad

2 years ago

@meelonmuskusa 56

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PaymentsDad @PaymentsDad

2 years ago

@benkellyone Yup! It’s a fun biz, not for the weak though… it’s very, VERY competitive.

PaymentsDad Profile Picture

PaymentsDad @PaymentsDad

2 years ago

@MattWallace888 @dom_lucre 100% popped some adderall

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PaymentsDad @PaymentsDad

2 years ago

@ADWilliamsUVA you’re an absolute disgrace … what is this bullshit!

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PaymentsDad @PaymentsDad

3 years ago

Square now charging merchants 2.5% “load fee” for gift cards. Un-frickin-believable. Things like this are why you process with a local, boutique processor.

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PaymentsDad @PaymentsDad

3 years ago

Quickbooks is awesome - but not for payments. Every Quickbooks processing statement I’ve seen has an effective rate between 3.1% - 3.6% Money just waltzing its way out the door.

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PaymentsDad @PaymentsDad

3 years ago

@Blind__Luck Next week will be 5 years for me - can this be applied retroactively?

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PaymentsDad @PaymentsDad

3 years ago

Looked at a commercial space two days ago, floor plan flyer said $18.50 / sq ft on it. We wanted it. This is my first rodeo with this… Day later the broker called us back, the owner wants $25.50 / sq ft now. Is this normal? I told the broker I think we’re just wasting everyone’s time here.

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PaymentsDad @PaymentsDad

3 years ago

@GuyBrewery Brussels

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PaymentsDad @PaymentsDad

3 years ago

@Budgetdog_ Points are pretty great when you feel like just getting away or visiting an out of state friend for a weekend and you have the points to do it. That’s about it.

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PaymentsDad @PaymentsDad

3 years ago

@realEstateTrent I think it’s less about having to pay taxes, and more about how our money is being used. The fact that some reason it’s never enough and a “budget” does really apply to the US Gov’t

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PaymentsDad @PaymentsDad

3 years ago

@SeanMurphyHFX @SameStoreGuy All depends on the processors buy rate - 20bps isn’t hard to come by.

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PaymentsDad @PaymentsDad

3 years ago

Largely depends on the processors “buy rate” and how much risk they take. What really matters is the overall effective rate and how you get to that number. I’ve seen statements that show a low discount rate - but they pad the base interchange costs. Which pushes that overall effective rate up. Digging into the base interchange costs is hugely important.

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PaymentsDad @PaymentsDad

3 years ago

@johnmckeeDC Most of our vape shop merchants are doing $30K+ per month in revenue, per store. Most, if not all have multiple stores. One client of ours has 33 locations and a wholesale distribution center… does 1.5MM per month.

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PaymentsDad @PaymentsDad

3 years ago

@creromans This is exactly what we need to get going.

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PaymentsDad @PaymentsDad

3 years ago

@mikebeckhamsm Power outlets everywhere.

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PaymentsDad @PaymentsDad

3 years ago

Just came across your profile - IC+ 4 bps & 6 cents per would be an extremely good rate. Is your average ticket size over $175? Because if not, I’d have to think the processor would actually be losing money on all debit card transactions. Base IC on regulated debit is 0.05% + 22 cents per. How did this end up for you?

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PaymentsDad @PaymentsDad

3 years ago

@BarrettKearns @carsales_guy @GuyDealership RepoCoin Towing Co.

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PaymentsDad @PaymentsDad

3 years ago

@SameStoreGuy Will check to see what most of our pizza shop merchants are on in the AM. My guess is that it’ll be MobileBytes

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