On Tue, Aug 18, 2020 at 8:15 AM Joseph Yaworski <[email protected]> wrote: > Have we discussed alternatives to PayPal and Stripe recently? With them > taking a cut of membership, it might be a good time to look at other > options. Some of us could likely do ACH, at least in the US.
As far as I remember, we haven't talked about this during my time on the board, which is only about 15 months at this point. Clinton may know more, since he's been the treasurer for a while now. From what I've read, it seems like we would still need a payment processor like Square or Stripe in order to accept ACH. There are still some fees involved, although they are likely to be less than the credit card processing fees we pay today. However, it also seems like our liabilities would be different for ACH. For instance, it appears that the co-op would get charged a penalty fee if an ACH payment is rejected for insufficient funds or other reasons. We would have to take that risk into account. It also seems like the cost is only one of the factors we need to consider. Since everyone who regularly deals with payments is doing it on a volunteer basis, I'm inclined to prefer a solution that is easier to deal with, even if it costs the co-op a little more in fees. From the brief digging I've done, it's not clear to me whether ACH would require more or less work to administer. I guess it's really a question of how many people would want to take advantage of this, and how much money we are likely to save vs. any extra work that ACH entails. KEN _______________________________________________ HCoop-Discuss mailing list [email protected] https://lists.hcoop.net/listinfo/hcoop-discuss
