Who pays the price for credit card processing fees?
nostr:npub17248hqdkw8j83gq383pu75fa4p42cfaf76dp5u3yec6lrtnej8asf65tfn from nostr:npub1jugar2agq6369p0l86razavs9shj2p6pscxecevs8j94ap37hkqsjlfc28 shares a personal story of how #bitcoin payments can keep more money in the pockets of working parents.
I'm interested to know how much extra the extended care was going to cost each parent.
Whether it's CC processing fees or Bitcoin transaction fees, the parents are still paying fees. Am I missing some context here, or am I completely off of the mark altogether? I'm all for business accepting Bitcoin, but it's not like fees disappear because you use Bitcoin.
Compare 3.5% of the transaction cost for a credit card vs. a couple of cents maximum for a Lightning network payment.
There’s over 900 families at our school, majority use the after school program. Give or take it’s $50 per family. The fees don’t disappear but they would be significantly lower with bitcoin payments over the lighting network at an avg of 0.3-0.5% vs the 3% paid to credit card fees.
