Pinky Floyd on Nostr: can someone please help me with this #math #stripe has credit card processing fees ...
can someone please help me with this #math
#stripe has credit card processing fees that are 2.9% + $0.30
so for a $10 transaction, the fee is 2.9% ($0.29) + $0.30 = $0.59 cents total. so i should charge my customer $10.59, right?
wrong, stripe tells me i should charge my customer $10.61 in order to fully cover the fees.
i don't understand where the extra two cents comes into play, how do i calculate this "you should charge your customer amount? what is the actual formula?
#stripe has credit card processing fees that are 2.9% + $0.30
so for a $10 transaction, the fee is 2.9% ($0.29) + $0.30 = $0.59 cents total. so i should charge my customer $10.59, right?
wrong, stripe tells me i should charge my customer $10.61 in order to fully cover the fees.
i don't understand where the extra two cents comes into play, how do i calculate this "you should charge your customer amount? what is the actual formula?