Afternoon
I'm looking for recommendations for Credit Card Payment Gateways (or alternatives) for micro-transactions. It would appear that the current providers (in NZ) are not well suited to use for micro-transactions, as the cost per transaction is prohibitive and ends up at around 40% for a $1 transaction.
Breakdown - (this could change on a higher volume of transactions)
Payment Gateway: 30 cents per transaction.
Bank: 2.5% - 6% of the value of the transaction.
I'm not really sure if there are other fees with the PG but I would assume a monthly charge?
So, it would appear that best case, I would end up with ~64 cents in the dollar (but am expecting other hidden costs, so this would make it less).
Anyone have any recommendations for low value, high volume (hopefully) credit card payments?
Thanks.