Do you think low processing fees is more beneficial for merchants?

[arwin100]

There are lots of cryptocurrency payment gateways. Each of them have different processing fees and transaction fees. some of them charge 1% to 5% fees on each transaction. which is a huge amount but merchants have to pay this amount. But there are payment gateways who charge the lowest amount like, one payment gateway only charges 0.23% processing fees on transaction. I find it very attractive because merchants will get more from it and it will be more beneficial for them eventually.

Yes it is merchant could find it more convenient to them since they can save fees and that would be a good boost to their sales if they find some platform like this will exist.  Hopefully there are new players in the market will compete against those giant platforms asking higher fees to there transaction since this can give us huge relief when doing some frequent transaction from multiple people everyday.

[karmamiu]

Nobody's happy paying fees after fees. Right now, the most attractive platforms for the users are those with low transaction fees. Even if those platforms aren't offering any cash backs or events for their valued customers as long as their fees are low, it is sure that those platforms will always have an existing customer. Personally, I don't really like how our custodial wallets we're programmed here in my country, aside from having us to provide personal information, the fees alone will let you think twice before doing transactions. That is why in most cases I won't send/convert money if it's only a little coz I'll run the risk of paying such ridiculous fees.

[Z-tight]

The goal is actually to get to a place where merchants (and others) don't have to use a third party like payment processors to handle their payments. In other words the answer to your question is to not have these third parties in first place to change any fees at all!

You mean a time when every merchant accepts BTC directly to their BTC wallet without using a payment processor to convert to fiat or other cryptocurrencies. I don't know, but a time like that may be when there is mass adoption, but for now i think payment processors are very important, even for BTC, i don't care what the merchant converts the BTC into, as long as i can pay with it, i think that is good. These merchants also have real worries why they can't hold the BTC they receive, especially with volatility, and i get them from a business standpoint, i believe payment processors would be vital both now and in the future.

[DaveF]

Fees are still only 1 part of it.

I made a post about this a couple of years ago: https://bitcointalk.org/index.php?topic=5366008

Bad exchange rates can kill low fees.
Lack of customer service and cumbersome integrations will make people not use the service.
If you are converting to fiat and giving it to the merchants how long does it take?

And so on. Just looking at one aspect such as fees is pointless. I can run a service with 0 fees but if my rate is 2% off of what showing at the major exchanges is it really 0 fee?

-Dave

[xSkylarx]

Who on earth likes fees? only those people who implemented it, but for us payers of it, we don't want it, even just a small part of it, because it is a loss to us because that is only a transaction that we need to do but still needed to be paid. If the fees were lower, the merchant would be happy because they now have extra money to add to the capital. It is a huge help, but I hope that not only those merchants, but also us consumers, benefit from it. 

[naira]

There are lots of cryptocurrency payment gateways. Each of them have different processing fees and transaction fees. some of them charge 1% to 5% fees on each transaction. which is a huge amount but merchants have to pay this amount. But there are payment gateways who charge the lowest amount like, one payment gateway only charges 0.23% processing fees on transaction. I find it very attractive because merchants will get more from it and it will be more beneficial for them eventually.

For this reason, a trader must be able to choose and sort coins with low transaction fees. Because we need to take as much advantage as possible with certain tricks. Even traders who always do Arbitrage know the benefits of fees. Personally before I make a withdrawal the first thing to do is to check all crypto withdrawal fees and set it as a favorite option.

[pgbit]

There are lots of cryptocurrency payment gateways. Each of them have different processing fees and transaction fees. some of them charge 1% to 5% fees on each transaction. which is a huge amount but merchants have to pay this amount. But there are payment gateways who charge the lowest amount like, one payment gateway only charges 0.23% processing fees on transaction. I find it very attractive because merchants will get more from it and it will be more beneficial for them eventually.

Yes i think that low processing fees are more beneficial for merchants. This is because it reduces the amount of money that the merchants have to pay to be able to accept payments from customers. This could save merchants a significant amount of money in the long run, as the lower transaction fees could add up over time. And also having lower processing fees may also increase the number of customers who are willing to use the merchant’s services, as they may be more likely to trust the merchant if they are offering lower processing fees

[Russlenat]

Adoption is key, and generally, merchants prefer lower processing fees as this attracts more users, which is good for their business. The low transaction fees would work for the network if it can gain sufficient volume, as these two factors go hand in hand. High volume is necessary to satisfy the crypto project and provide the best service to merchants and buyers alike.

[Synchronice]

There are lots of cryptocurrency payment gateways. Each of them have different processing fees and transaction fees. some of them charge 1% to 5% fees on each transaction. which is a huge amount but merchants have to pay this amount. But there are payment gateways who charge the lowest amount like, one payment gateway only charges 0.23% processing fees on transaction. I find it very attractive because merchants will get more from it and it will be more beneficial for them eventually.

Low merchant fees not only give them availability to get more profit and decrease expenses but it also lets them to run promotions like cashback and make their promotions more attractive while still having less expenses than they would have with payment gateway that charges up to 5%.

But the problem is that low fees alone aren't that beneficial for merchants. Still, a lot of people use coinbase payment gateway because it offers coin to fiat convert option and you don't have to run it on your server, i.e. responsibility is on 3rd party for you.
While 0% is a better choice if one has a high transaction volume, still, there are some benefits that some big merchants prefer, that overcome 1% fee difference.

[bettercrypto]

I believe that when a merchant's processing fee is small for each transaction, it is a good advantage for merchants.

      And the good result of the low charge fee will be that the merchants will have many client users in the future. Because that's what we do and what we look for as a client in a payment gateway. Because if the transaction fee is high or expensive, for sure there will be no repetition for a customer like me, and if the fee is cheap, it is also certain that I will come back to it, especially if the service is okay.

[Faisal2202]

That's an obvious thing (op) that merchants could save more money which is beneficial for them. The difference between different gateways is due to the Blockchain network that your select. Some Networks have lowers fees while some have high fees. Selection of that blockchain network is narrowly downed when you select only one currency as a payment method like BTC then you have to use BTC blockchain. Overall, a merchant can cover fee expenditures by asking clients to cover them from their end. For example, if a client wants to buy something for 40$ then he has to cover the fee which could vary from 2$+. so he has to send extra money to cover them. This could save merchants money.

Marchant can also save more money by withdrawing big transactions like instead of doing micro-transactions he/she should prefer one single big transaction that will reduce the cost of transaction fees for them. They could store that money after withdrawals in some other wallet which offer less fee or no fee according to the availability in their country like here in our country Easypaisa.

You as a merchant, have to select the network of your blockchain like is it segwit or Taproot, etc. well SegWit has lesser fees according to my experience but you should check them individually by visiting them. If you are a successful merchant then using BTC as payment will be of great use, you could use telegram Fee notification bots which will notify you whenever the fee rate will decrease. because these rates depend on the traffic on blockchain and this traffic is not the same all time. so a sharp eye on fees and the behavior of the market could benefit you a lot.

[blackened515]

I believe that when a merchant's processing fee is small for each transaction, it is a good advantage for merchants.

      And the good result of the low charge fee will be that the merchants will have many client users in the future. Because that's what we do and what we look for as a client in a payment gateway. Because if the transaction fee is high or expensive, for sure there will be no repetition for a customer like me, and if the fee is cheap, it is also certain that I will come back to it, especially if the service is okay.

Going for low fees would reduce the expensive costs of charges from these crypto exchanges, I will urged us to use network that charges low fees for transactions. Meeting up the expectations of clients is the ultimate priority of merchants and they do not take their chances whenever they come across potential client. Low fees is a big advantage for merchants because they will increase the rate of trading daily and more profits from anticipating in P2P. Buyers would be credited with absolutely full satisfaction from the merchants.

[summonerrk]

There are lots of cryptocurrency payment gateways. Each of them have different processing fees and transaction fees. some of them charge 1% to 5% fees on each transaction. which is a huge amount but merchants have to pay this amount. But there are payment gateways who charge the lowest amount like, one payment gateway only charges 0.23% processing fees on transaction. I find it very attractive because merchants will get more from it and it will be more beneficial for them eventually.

Yes, there is a huge amount of transaction fees in the world of cryptocurrencies. We pay for the input to the exchange and for the withdrawal from it, and the larger the amount, the higher the fee.

We also lose money on converting courses. Many people here live in countries where the main currency is not the dollar, and they have to convert through it.

A great solution was p2p, when all the above steps are excluded for input and output.
I often use this system for binance, and I am grateful to them for the fact that Binance introduced p2p in the country where I live.

[|MINER|]

There are lots of cryptocurrency payment gateways. Each of them have different processing fees and transaction fees. some of them charge 1% to 5% fees on each transaction. which is a huge amount but merchants have to pay this amount. But there are payment gateways who charge the lowest amount like, one payment gateway only charges 0.23% processing fees on transaction. I find it very attractive because merchants will get more from it and it will be more beneficial for them eventually.

Of course there will be no questions about that the lowest withdrawal fees will always brings the best beneficial for the marchant. It is not only in the case of crypto currency but also in the banking system and the banks which provide their services through low fees are beneficial for a merchant. This happened is not only in the case of merchant it is also beneficial for us I always choose the lowest withdrawal fees exchanger. Before the FTX crash I always use that for the lowest withdrawal fees required exchanger. And in the case of traders, the transaction is quantity more than others normal users, so one percentage withdrawal fees are very beneficial for them. However, while looking for low fees, you must be careful to choose the payment gateway is good.

[Husires]

But there are payment gateways who charge the lowest amount like, one payment gateway only charges 0.23% processing fees on transaction. I find it very attractive because merchants will get more from it and it will be more beneficial for them eventually.

Can you share the name of that platform and the coins you provide? Because their price is very low and therefore they either provide service to a large number of people or get money by manipulating the exchange rate, where you are given a lower exchange rate than you are supposed to get (hidden fees)


You can check out a list here: New Bitcoin Payment processors

[Agbe]

There are lots of cryptocurrency payment gateways. Each of them have different processing fees and transaction fees. some of them charge 1% to 5% fees on each transaction. which is a huge amount but merchants have to pay this amount. But there are payment gateways who charge the lowest amount like, one payment gateway only charges 0.23% processing fees on transaction. I find it very attractive because merchants will get more from it and it will be more beneficial for them eventually.

Binance charges on altcoins when selling while bitcoin selling in binance is free. But other exchange platforms charges higher. It is only on wallet transaction that different wallets charges differently, in Electrum the fees might be 2.4 or high. Nobody likes high fee payment platforms to do transaction. Binance is everywhere and their fees are okay for the average person to make buying and selling.

[Bushdark]

There are lots of cryptocurrency payment gateways. Each of them have different processing fees and transaction fees. some of them charge 1% to 5% fees on each transaction. which is a huge amount but merchants have to pay this amount. But there are payment gateways who charge the lowest amount like, one payment gateway only charges 0.23% processing fees on transaction. I find it very attractive because merchants will get more from it and it will be more beneficial for them eventually.

Yes it is merchant could find it more convenient to them since they can save fees and that would be a good boost to their sales if they find some platform like this will exist.  Hopefully there are new players in the market will compete against those giant platforms asking higher fees to there transaction since this can give us huge relief when doing some frequent transaction from multiple people everyday.

Paying fee especially high fee is something that do make people to think of other ways they can make transaction on check network that only requires small fee. Looking at the Ethereum network that would ask users to pay high fee to make transaction even though it's a mini transaction, this had been making investors especially those ones that run transactions virtually everyday to look for other cheap network to run there transactions.

There are lots of cryptocurrency payment gateways. Each of them have different processing fees and transaction fees. some of them charge 1% to 5% fees on each transaction. which is a huge amount but merchants have to pay this amount. But there are payment gateways who charge the lowest amount like, one payment gateway only charges 0.23% processing fees on transaction. I find it very attractive because merchants will get more from it and it will be more beneficial for them eventually.

Binance charges on altcoins when selling while bitcoin selling in binance is free. But other exchange platforms charges higher. It is only on wallet transaction that different wallets charges differently, in Electrum the fees might be 2.4 or high. Nobody likes high fee payment platforms to do transaction. Binance is everywhere and their fees are okay for the average person to make buying and selling.

Binance is one of the best exchange for me based in the way the regulate there fees. Even doing p2p transaction does not take any fee but other exchanges like Kucoin and others would charge for every trade you are doing whether swapping, p2p etc.
The fact is nobody wants to pay high fee on a mere transaction that is why we always have alternative to go for when we notice that we are spending too much on transaction fees.

[CryptoHeadlineNews]

There are lots of cryptocurrency payment gateways. Each of them have different processing fees and transaction fees. some of them charge 1% to 5% fees on each transaction. which is a huge amount but merchants have to pay this amount. But there are payment gateways who charge the lowest amount like, one payment gateway only charges 0.23% processing fees on transaction. I find it very attractive because merchants will get more from it and it will be more beneficial for them eventually.

It's called a transaction fee by the way, and it plays an important role for merchants who trades large amount of funds, as they tend to spend less and save more on a gateway that charges very low fees compared to gateways that charge very high, but however, there are some gateways/exchanges which I have used which offer zero "transaction fee" when convwrting your Bitcoin into fiat currency such as "Remitano". Because imagine you are to transact $1000, and a 1% fee will be equal to $10, whereas a 0.25% few will be $2.5, which is way lower compared to the first.

[livingfree]

Not just the merchants but everyone likes to pay low fees per transaction especially at these times when the quickest transaction could be around $2.

Yes i agree but what if i say there is a platform who charges the amount that will be more beneficial for merchants only. https://coinremitter.com/?utm_source=rep&utm_medium=bitcointalks This only platform charges 0.23% processing fees and also has other advantages like free plugin, free plan and affiliate program! The reason behind the lowest fees is they want to make it more profitable for merchants.

Then that's good and you have to keep reaching those merchants for them to able to use and know you. If they know that there's a service like yours that offers small amount of fee then they might try you out.

[KiaKia]

Lower transaction fee is better for crypto merchants because customers will be able to find it easier to pay using crypto and also it is better to avoid any crypto not pass AI transaction fee because customers would be willing to use subscript for payments.

This is why I don't like what happened with bitcoin ordinals, I am one of those people that believe that Bitcoin transaction fee will be much more higher in future, what will witnessed a month ago is nothing compared to what is coming because if ordinals managed to catch the attention of big whales and investors, this will make bitcoin transaction fee Skyrocket and bitcoin miners will be the one to enjoy the ride, not the investors.