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BrixBountyFarm 🎩
@brixbounty
Hey @jessepollak Absolutely love these new “crypto was not for him until it was”, yet hope the marketing team understands that the 3% interchange fees come from gross non cash transactions, which ends up taking much more than 3% of a small businesses profit. Example say 1M annual sales with 80% via cc, so 800K subject to fee = 24K in fees; depending on the margins etc this will likely be multiples more than 3% of their profit. Also exhibit A why we’ve never accepted cc on the farm, also our annual sales are not this high, just using a round number for reference. https://x.com/brix_farm/status/1861153454388895989?s=46&t=TVy9rDl3UkuxmVj4e18bOA
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BrixBountyFarm 🎩
@brixbounty
Just talked with a neighbor who has a larger operation than mine. He’s at 2.6% plus a per transaction charge, with square I think it was? Over 20K in fees this year so far. So a 1% drop in these fees would be an extra 7.5K to his bottom line. If 20K was 2.6 % of his profits (it’s not) as the ad said, he would be netting 520K per year. He is not, much much lower.
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MattwithouttheT 🎩
@mathew
Very big difference there!
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0xpotus (🔵, 🎩)
@0xpotus
Well said!
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