Has nobody solved this problem? Why not make a competitor to Visa/Mastercard/etc. that has a different payment structure which will allow for many micro-purchases?
That wouldn’t matter. Patreon charges a flat fee per donation, despite the fact that they only place one charge on your card. It has nothing to do with credit card fees.
While this is true, transaction fees still exist on every service no matter what. And regardless of payment method, the fees become more onerous when there are multiple small transactions as opposed to one large one. Someone could theoretically create a payment processor that has a different payment structure that does not have this flaw.
They are claiming they’re not doing that in this new setup, that each pledge per patreon is separately being charged so that they can do charge-up-front and reoccurring payments in a simple but stupid way. Their solution squanders a substantial portion of the pledges under $5 on credit card fees.
They really need to special case the $1-$2 pledges.
I too am going to pull the plug on my $1 pledges if they don’t announce a fix.
So close, yet, so far…
I’m doubling down on content this week for Patreon. Three new episodes. The titles:
- Lorem Ipsum
- Pen Rotation
- The GeekNights Pipeline
How much did the Patreon lose, and how much has it come back?