Steve (steve) wrote in lj_biz,
Steve
steve
lj_biz

American Express Payments

I think I may have misunderstood the original proposal the dhr_eigen brought up here but it lead me to something interesting. It seems that this user just wanted us to start taking AmEx, but I thought he was suggesting we switch over to the American Express online payment system (called Payflow). I went to the AmEx site and they have a whole system for taking credit cards online (including Visa, Mastercard, Discover, Diners Club, JCB, and of course American Express). Since they are the credit card company they don't charge you a per transaction fee like PayPal does, just a monthly fee. If we do less than 1000 transactions per month, it's only $19 (with a startup fee of $99). If we do more transactions, or want the actual transaction page to be located on LiveJournal (which it's currently not anyway) it is more. Here's all the info. From the looks of it, this could be a good way of getting more per transaction. Of course I don't have access to any real data concerning LiveJournal's revenue, but some simple math would be able to figure out if it would be worth switching to a new system that doesn't charge per transaction.
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