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What Are Prediction Markets? How They Work & High Sites

Prediction markets may be considered belonging to the more basic idea of crowdsourcing. Crowdsourcing is particularly designed to aggregate info on specific topics of interest. The main function of prediction markets is eliciting aggregating beliefs over an unknown future consequence. If anybody disagrees with this probability distribution, he’s economically incentivized to purchase the (subjectively) undervalued […]

AngelPay Authorize .Net Elavon Braintree Amazon Payments First Data Heartland Payment Systems Quickbooks Payments Flagship Merchant Services National Bankcard PayPal Square WePay Stripe Trans First Chase Paymen Tech TSYS

Markup % 0% 1.00% 0.20% 1.00% 1.00% 1.50% 0.40% 1.45% 0.30% 0.30% 1.00% 1.00% 1.00% 1.00% 0.20% 0.30% 0.40%

Added $ Markup Per Txn $0 $0.30 $0.10 $0.30 $0.30 $0.25 $0.05 $0.25 $0.10 $0.19 $0.30 $0.30 $0.30 $0.30 $0.18 $0.15 $0.10

Mthly PCI Fee $0 $0.00 $35.00 $0.00 $0.00 $19.95 $8.95 $0.00 $8.25 $6.58 $0.00 $0.00 $0.00 $0.00 $6.27 $0.00 $6.25

Mthly Stmt Fee $0 $0.00 $19.99 $0.00 $0.00 $9.95 $15.00 $0.00 $7.95 $9.95 $20.00 $20.00 $20.00 $20.00 $5.00 $9.95 $10.00

Setup Fee $0 $49.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $99.00 $25.00

Charge-Back Fee $10 $25.00 $20.00 $15.00 $20.00 $30.00 $25.00 $0.00 $25.00 $25.00 $20.00 $20.00 $20.00 $20.00 $25.00 $10.00 $20.00

Mthly Gateway Fee $0 $25.00 $10.00 $0.00 $0.00 $18.00 $7.95 $0.00 $7.95 $9.95 $30.00 $30.00 $30.00 $30.00 $5.00 $9.95 $10.00

Mthly Min Txn Volume $0 $0.00 $35.00 $0.00 $0.00 $0.00 $4,167.00 $0.00 $25.00 $25.00 $0.00 $0.00 $0.00 $0.00 $5.00 $25.00 $25.00

Termination Fee $0 $0.00 $0.00 $0.00 $0.00 $495.00 $295.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $250.00

Total $ Cost per Month $200 $1,329.08 $364.99 $1,300.00 $1,300.00 $1,839.15 $506.48 $1,700.00 $424.15 $516.48 $1,350.00 $1,350.00 $1,350.00 $1,350.00 $396.27 $478.15 $549.17

Total % Cost per Month 0.20% 1.33% 0.36% 1.30% 1.30% 1.84% 0.51% 1.70% 0.42% 0.52% 1.35% 1.35% 1.35% 1.35% 0.40% 0.48% 0.55%

% Higher Cost than AngelPay - 564.54% 82.50% 550.00% 550.00% 819.58% 153.24% 750.00% 112.08% 158.24% 575.00% 575.00% 575.00% 575.00% 98.13% 139.08% 174.58%

Transparent Fees Yes Yes No Yes Yes No No Yes No No Yes Yes Yes Yes No No No

Req. Long-Term Contract No No No No No Yes Yes No No No No No No No No No Yes

Online Processing Since 1996 1996 ~2008 2007 2007 ~2000 ~2000 ~2007 2001 2001 1998 2009 2008 2011 ~2000 ~2000 ~2000

Note # 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17

Notes:
1. This is when our team founded and launched Authorize.net.
2. This is when our team founded and launched Authorize.net.
3. PCI fee is a mthly “PCI Non-Compliance” fee.
4. Acquired by PayPal in 2013.
5. Amazon was founded in 1994, but their payments service was launched in 2007.
6. First Data usually only works through resellers unless you’re a large company.
7. Approximate start year.
8. Approximate start year.
9. $99/year PCI fee converted to mnthly rate.
10. $79/year PCI fee converted to mnthly rate.
11. Mthly fee adds recurring billing & fraud protection.
12. An integrator/reseller
13. An integrator/reseller
14. An integrator/reseller
15. $75.20/year PCI fee converted to mnthly rate.
16. Many acquisitions make it difficult to identify first online payment processing year.
17. 3-yr contract. TSYS has existed for many years, but online processing since ~2000.

Monthly $ Volume

Enter the average $ processing volume that you process each month.

Fixed or Variable Dues?

Choose between Fixed Monthly Dues or Variable Dues. Fixed Dues provide a guaranteed and predictable low monthly cost. Variable Dues is the same as the more technical term “Interchange-plus,” which may be preferable for some organizations.

Alien Payment Processing Vocabulary

For today’s lesson, memorize the following alien terms:

“tiered”, “qualified”, “mid-qual”, “non-qual”, “Visa Interchange vs. MasterCard Interchange”, “Interchange-Plus”, “PIN vs. EMV”, “Billback”, “ERR”, “chargebacks”, “Discount Rate”, “card-present vs. card-not-present”, “Signature Debit”, “Durbin Amendment”, “ISOs”, “MSPs”, “CPS Regulated”, “MOTO”, “swiped vs. keyed”, “credit vs. non-PIN debit”, “PCI fees”, “IAS”, “TAS”, “auth fees”, “batch fees”, “ACH fees”, “gateway fees”, “IRS fees”, “statement fees”, “AVS fees”, “setup fees”, “risk surcharge”, “cross-border settlement fees”, “token and encryption fees”, “early termination fees”, “access fees”, “ECA fees”, “Escheat Research Fees”, “balance inquiry fees”, “cart fees”, “tax handling fees”, “minimum monthly volume fees”, “compliance fees”, “(fill-in-the-blank fees)”

# of Transactions per Month

Enter the average number of transactions that you process each month.

Your Guaranteed Monthly Dues

As a Member of the nonprofit AngelPay Foundation, this would be your guaranteed monthly dues cost based on the parameters you have configured above. No hidden fees. No surprises.

Note: The membership dues do not include the Interchange Fee charged by the credit card networks (Visa, MasterCard, American Express, Discover), which all payment processors must charge equally for each type of transaction. AngelPay does not add any markup to the Interchange Fee; so this is simply a pass-through cost from the card networks to our Members.

To see the total cost of your monthly processing, please see the “All-In Cost” comparison at the bottom of the Calculator after you have finished entering all the applicable cost items below for your particular situation.

Your Estimated Dues per Transaction

As a Member of the nonprofit AngelPay Foundation, this would be your estimated processing cost per transaction. No hidden fees. No surprises. (Note: The membership dues do not include the Interchange Fee charged by the card networks. Please see the “All-In Cost” for the all-in cost of your monthly processing.

Current Billing Method

Select the option that best describes how Processor X currently charges you for their services. (Tiered rates are the most common.)

Average Tiered Rate

Select the average tiered rate (including Interchange) that Processor X charges you for their services per transaction.

Note: Most processors don’t include all their one-time and incidental fees in their rates. That’s why we give you the ability to include all the fees below to more accurately calculate Processor X’s true cost.

Average Interchange Fee

Select Processor X’s average Interchange Fee. If you don’t know it, use the default value of 1.70%, which is common for most organizations.

Note: Most processors don’t include all their one-time and incidental fees in their rates. That’s why we give you the ability to include all the fees below to more accurately calculate Processor X’s true cost. Also Note: Interchange is not a “markup”—it is essentially a tax imposed by the card networks—so Interchange is only included in the “All-In Cost” calculations at the bottom of this Calculator.

Markup $ per Transaction

Interchange+ pricing always includes one or more markup expense components. Enter Processor X’s explicitly stated $ markup per transaction. If you don’t know what to enter here, $0.30 per transaction is common. (This does not include all the other fees shown below.)

Markup % per Transaction

Interchange+ pricing always includes one or more markup expense components. In addition to the $ Markup per Transaction, most processors also add a % markup. Enter that here. If you don’t know it, 0.75% per transaction is the industry average. (This does not include all the other fees shown below.)

Statement Fee

Enter Processor X’s monthly statement fee. (AngelPay does not charge any statement fees.)

PCI Fee

Enter Processor X’s monthly statement fee. If paid yearly, divide by 12. (AngelPay does not charge any PCI fees.)

Gateway Fee

Enter Processor X’s monthly gateway fee. (AngelPay does not charge any gateway fees.)

All Other Monthly Fees

Enter any other monthly fees that Processor X charges you. (AngelPay does not charge any other monthly fees.)

Contract Termination Fee

Enter Processor X’s contract termination fee. (AngelPay does not charge contract termination fees.)

Setup Fee

Enter Processor X’s setup fee. (AngelPay does not charge any setup fees.)

Chargeback Fee (per incident)

Enter Processor X’s per-incident chargeback fee. AngelPay’s Chargeback Fee passed through to our Members. We wish we didn’t have to charge anything at all, but this is the actual cost for each incident. We only ask to be reimbursed for our costs.

Your Average Chargeback % per Month

Enter your average chargebacks as a % of your total number of transactions per month. (0.15% to 0.25% is common. If you don’t know what to enter, the average 0.20% will be used.)

All Other One-Time Fees

Enter the total of any other one-time or incidental fees that Processor X charges. (With AngelPay there are no hidden fees or surprises so there are no other fees.)

Monthly Markup

This is the amount that a payment processor adds on top of the mandatory Interchange Fee. (The credit card networks require all banks and processors, including AngelPay, to charge the same Interchange fee for each type of transaction.)

Page Pending

That page will be available soon. This link will be updated as soon as that page is ready. Thank you for your patience.

True Markup %

This is the amount of fees that a payment processor adds on top of the Interchange fees calculated as a percentage of your total processing volume.

All-In Cost %

This is the total cost per transaction (“All-In”), including Interchange Fees and all other added processor fees. This helps to prevent payment processors from manipulating their fee language to claim they are a better choice.

Annual $ Markup

This is how much cost a payment processor adds on top of the Interchange fees on an annual basis.

Difference %

For each Cost Item category, the numbers in this column represent the mathematical percentage and financial cost difference between AngelPay and Processor X.

Novice

Novice Angels study the materials on this website so they can understand why the AngelPay Mission is so important to their community and the broader economy. Then they will learn how to effectively communicate exactly why AngelPay is important to organizations that need reliable, low-cost payment processing and guidance on how to navigate the pitfalls of the merchant services industry. With a little patience and persistence, the rewards can add up quickly.

Apprentice

Apprentice Angels start to spread their wings and see the fruits of their labor.

Executive

Executive Angels feel confident in their abilities and map out a game plan for long-term success.

Superhero

Superhero Angels are destined for greatness in whatever they set their minds to do. Their success with AngelPay is just the beginning. They will fly high above most other mortals for the rest of their lives, but they will always remain humble and they will seek to use their super strengths to strengthen others as often as possible.

Total $ Volume

This is the monthly USD value of all the transactions that AngelPay processes for the Members that come from your Member Network.

Avg $ Volume per Member

Enter the estimated average monthly payment processing volume for the Members that you intend to introduce to AngelPay. For example, if you intend to introduce 10 Members and you think they collectively process approximately $1 million per month, then you would enter $100,000 because that is the average processing volume for all 10 Members ($1MM / 10 = $100K). Make sure you use the average monthly volume on an individual Member basis, (not a collective basis); otherwise, these estimates will be too high.

Number of Network Members

Enter the number of Members that you intend to introduce to AngelPay.

Star

Star Angels begin to organize their time and resources like a small business, developing efficient processes to expand their networks and their rewards.

Hero

Hero Angels have earned enough to be comfortable financially. Now they can stop worrying about existential survival and start thinking about how they will give back to their local communities; although some may continue building the AngelPay Community, too.

Epic

Epic Angels are epic networkers and community builders. They have mastered the artform of flying high without losing their perspective of what is most important in this world.

Legendary

Legendary Angels are living legends. These people can do anything they put their minds to. We are fortunate to have their talents and energies focused on building the AngelPay Community.

Mighty

Mighty Angels are extraordinary human beings on every level. To achieve this degree of success, they have invested heavily in their own personal development, their lives have become beacons of hope to others, and they inspire others to work toward their full potential wherever they go.

Guardian

Guardian Angels see the world differently. With all the money and security they will likely ever need, they are free to explore the world in all its glorious diversity and mystery. They see a planet full of opportunities to improve human institutions, human relations between nations, and the human systems that govern our precious Earth. They feel a sense of duty to use their wealth, power, and talents to reduce the suffering that afflicts billions of people around the world today. From charity work to public policy advocacy, Guardian Angels achieve a kind of immortality by leaving an enduring legacy far beyond their lifetimes.

Estimated Annual Rewards

This is the estimated cash rewards per year that you would receive if your Member Network performs according to the estimates you provided above.

Total Membership Dues

Membership Dues are collected by the nonprofit AngelPay Foundation whenever organizations that you refer to AngelPay sign up for our services. (Note: Affiliates never collect any funds directly from their Network Members. All rewards payments are paid to Affiliates directly from the AngelPay Foundation.)

Top Marginal Rewards Rate

This is the rate that corresponds to the highest level that you have achieved in the AngelPay Rewards Program.

Average Rewards Rate

This is the average Rewards rate that you have achieved in the AngelPay Rewards Program. It is an “average” because the Rewards Program is based on a marginal rate payout system, which means Affiliates are paid at multiple levels depending on which level they have reached in the program. See the Rewards Program FAQ to learn more.

Estimated Monthly Rewards

This is the estimated cash rewards per month that you would receive if your Member Network performs according to the estimates you provided above.

Levels Achievements Guidance

Min # Members Min Mthly Volume Avg Mthly Volume / Member Reward Rate

Novice 0 $0.00 $7,000 20%

Apprentice 5 $100,000 $20,000 23%

Executive 10 $500,000 $50,000 26%

Star 20 $1,000,000 $50,000 29%

Hero 30 $2,000,000 $67,000 32%

Epic 45 $5,000,000 $111,000 35%

Legendary 60 $10,000,000 $167,000 38%

Mighty 80 $25,000,000 $313,000 41%

Superhero 90 $50,000,000 $556,000 44%

Guardian
100 $100,000,000 $1,000,000 47%

Know Your Members

Affiliates should always be aware of the estimated monthly payment processing needs of their prospective Members to ensure that they understand what their prospective Members actually need. With this awareness, Affiliates can determine whether the prospective Member is processing enough monthly volume to justify the time and energy required to explain how the nonprofit AngelPay Foundation can help them significantly reduce their monthly payment processing costs.

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Emergency Contract Triage

Hidden fees, high fees, poor responsiveness, technological lock-in, cryptic terminology, deceptive marketing and communications, unreliable processing tools–these are just a few of the pain points that have driven many merchants away from for-profit payment processors and into the much friendlier environment of the AngelPay Community.

These issues can be quite traumatic. Are any of these pain points adversely affecting your organization, your personal health, or your emotional well-being? If your existing merchant payment services provider does not seem to really care about your organization’s best interests, please don’t hesitate to contact us to see if AngelPay’s Emergency Contract Triage Program can help eliminate or reduce the pain.

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