Quote:
Originally Posted by gonzo
So cliff notes is... we scam an extra 5% on top of CCBill hold back and 17.5% processing fee.
Shit that doesnt leave much profit does it?
Guess that extra 5% is needed to "float".
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No Gonzo, you are wrong again.
First CCBill charges us only 10.5%, not 17%.
Customers who have CCBill accounts are paid directly by ccbill, minus whatever per-transaction rate CCBill choses to charge them (usually its 14.5% I think). And as is industry standard, CCBill holds back 5%, and returns it 6 months later. Paycom, I think, has a 10% holdback but I'm not sure.
When 2Much pays out to its customers we also have a 5% holdback, and payout this 5% 6 months later. Again, industry standard.
I hope this clears it up for you.
Mark Prince
http://www.2Much.net