I got a note on my last statement from worldpay that says "Effective November 1st 2021, your discount rate and per transaction fee with us for Visa, mastercard, and Discover transactions will be assessed an additional .30% and $.08 per transaction. This is more than double what it was suppose to be when I signed up. When I signed up for worldpay it was suppose to be .25% and $.06 per transaction. I believe its time to start looking for something else where you are not locked into one processor.
Cryptopay rates more than double!
- Thread starter sparkey
- Start date
Toms PTcarwash
Active member
Is this and additional charge or the new charge? I haven't yet received this notice.
It reads like its an additional fee, but its more than double the original fee!
Eric H
Well-known member
What is your total %? I ran my numbers a couple of days ago. In August I was at 4.6 for my IBAs and 8.4 for Cryptopay vacuums. Both use WorldPay but different systems.
IBAs are running a higher $$ per swipe, obviously, vs vacuums at $2 per swipe. I’m switching the bays from Etowah Valley to Cryptopay soon. I am hoping that lowers my vacuum % because of the higher swipe average.
IBAs are running a higher $$ per swipe, obviously, vs vacuums at $2 per swipe. I’m switching the bays from Etowah Valley to Cryptopay soon. I am hoping that lowers my vacuum % because of the higher swipe average.
We have to pay 10.3% sales tax on our washes. So on a $10 car wash we pay a dollar in sales tax on top of the credit card fee's. We just add all the taxes, credit card fee's to the price of the wash. hat's there to bitch about the customer is the one who ends up pays all the fee's and additional costs. With the way the economy is today, with everything going up and up I think we in for a real $hit storm soon.
Earl Weiss
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Heck, a pittance compared to how we get hosed on a $3.00 gallon of gas. Over $1 a gallon in taxes plus CC Fees.
Earl, How much is gasoline in Chicago land now? The price of gas has a direct effect on car washing. It just broke the $4.00 a gallon mark here in my area in Washington state.
So I got a call back from a worldpay rep and he is telling me my rates will stay the same. He is not sure why it said I had a rate increase coming in November. I guess I will wait and see what happens.
Earl Weiss
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About $$3.60 / Gal.
Well I got my cryptopay statements for November and guess what. My rates went way up. One wash had the discount rate go up from .30% to .45% or a .15% increase, while my other wash had the discount rate go up from .30% to .60% or a .3% increase. and the processor per item fee for all credit cards went from .08 to .16 or an increase of .08
You may want to check your statements.
Greg Pack
Wash Weenie
I'm still sub 5% all in on cryptopay fees. I was close to double that with the previous system. I'm learning to pay closer attention to my Worldpay statements though. Recently worldpay began to charge me 19.99 for chargebacks. I got in touch with cryptopay and they had it changed back to the previous amounts, which I think was 1.99.
Cool story Bro.... I want some of what you are smoking.