Basis Point Boss

If your business accepts credit cards, you’re overpaying in fees.

[Basis Point Boss @basispointboss]

PSA to any business owners:

1. Stay away from Flat rate credit card processing pricing

2. Stay away from tiered credit card processing pricing

3. Stay away from processor whose first pitch to you is eliminating fees completely

1 - Worst pricing possible. Easy to understand but bad for business

2 - Old and outdated. Lots of cards get mis-categorized. You’ll quickly realize most of your cards fall into the most expensive tier

3 - Processors make the most money on this model (They would prefer this over putting you at a flat rate around 3%). If they tell you to pass fees to your customer at 4% they are making too much money. It’s a wolf in disguise

[Basis Point Boss @basispointboss]

@ElonMuskAOC Stripe

[Basis Point Boss @basispointboss]

It’s fairly simple: Solve a problem and scream about it louder than everyone else.

[Basis Point Boss @basispointboss]

@trentjhughes Branding is everything, so they say

[Basis Point Boss @basispointboss]

Crypto people: Crypto payments are the future and will eliminate credit card transactions fees

Crypto platforms: Now Introducing our new fiat credit card

[Basis Point Boss @basispointboss]

@JaredFeldman88 100%

[Basis Point Boss @basispointboss]

@Rainmaker1973 Your payment processor who put you on flat rate pricing

[Basis Point Boss @basispointboss]

@JoschuaBuilds Ha Makes a lot of sense.

Good luck!

[Basis Point Boss @basispointboss]

@agentsrihan Congrats, Srihan!

Great work

[Basis Point Boss @basispointboss]

@StumpGuyTy BYU’s got a pretty solid Mulch Program, right?

They should be able to pick up some good talent in the portal as well.

[Basis Point Boss @basispointboss]

@ClintFiore Big Law Firms. Ai cannibalizes their business model and shrinks billable hour model.

I can’t see Companies / individuals who retain these law top firms switching to the one man AI law shop.

[Basis Point Boss @basispointboss]

Apple AirPods being sold without a charger is 100X worse than the glass UI

My IPhone, MacBook, and Now headphones all from the same company all have different chargers.

[Basis Point Boss @basispointboss]

@KettlebellDan Interested in investing. Pls Send Wire Instructions

[Basis Point Boss @basispointboss]

@PicturesFoIder Every business owner in America could do this for their employees just by checking their credit card processing statement for inflated fees.

Kind gesture.

[Basis Point Boss @basispointboss]

Just realized Grok is now controlling the Twitter Algo.

Twitter uses Stripe.

AI doesn’t like to be wrong.

Time to switch lanes…

Quickbooks, your toast.

[Basis Point Boss @basispointboss]

No one will see or read this but F it…

I see merchants ALL the time passing fees off to their customers.

Many of which are doing so Non-Compliantly….

And Stripe, Service Titan, Quickbooks, and a Zillion other softwares are enabling it.

The platform allowing it doesn’t give a shit because the liability is 100% a merchant problem.

The business owners do it because “Hey Stripe lets us…it’s gotta be fair game”

Dead. Wrong.

You may not get caught but if you do it will suck.

Don’t believe me…

Stripe’s docs literally say:

“Make sure you comply with card network rules and local laws. Stripe does not handle this for you.”

Aka: If you surcharge debit cards (stripe doesn’t have the functionality to show you / nor do they want you to know which cards are debit card) or break Visa rules, you’re liable

Service Titan docs literally say:

2. The customer (i.e., the business) is solely responsible for compliance around fees, taxes, and surcharges.

Aka - Good luck it’s on you bubba.

Now….

What’s liability look like?

Best case scenario - A notice to stop.

Worst Case - $25,000 / month fine. Backdated paybacks on all non compliant surcharges. Get put on the acquiring bank(s) MATCH list + 100 other issues.

What really irks me about this is the lack of knowledge provided to the merchants, zero protection…And what led us here in the first place….

Their fees are so damn high no one wants to pay them.

Rant over.

Let me know if you want to hear more.