RadPad Lowers Mastercard Fee to 1.99%, Raises Fee on Visa & Amex

Radpad is a service some use to pay rent with a debit or credit card. Debit card payments are free and credit card payments come with a fee. It could be worth swallowing fees to help meet a minimum spend requirement.

The new rates charged by RadPad are 1.99% for Mastercard payments and 3.49% for Visa, Amex, and Discover. (Link)

Screen Shot 2016-01-12 at 3.06.11 PM

It’s curious that Mastercard is almost half the cost of Visa, although Plastiq also has run promos in the past for Mastercard specifically. Who knows?

Anyway, under the new pricing, for payments with Mastercard, Radpad is probably the best route to go at 1.99%, less than Plastiq’s current rate of 2.5% for all cards. For Visa or Amex, Plastiq is the best at 2.5%.

HT: Reader MM

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14 Comments
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Kyle
Kyle (@guest_217096)
January 13, 2016 12:56
William Charles
Admin
January 13, 2016 20:46

Hey Kyle, how’s things? If you get a chance send these types of changes to us in advance and we will happily embargo the news until the appropriate time. I’ll get in touch with Jonathan soon to talk about a promo I want to run with you guys!

Mohammad M
Mohammad M (@guest_217011)
January 13, 2016 07:50

Perhaps increasing visa/amex fee was part of their deal with mastercard.

gary
gary (@guest_216850)
January 12, 2016 19:28

the first one was an issue with plastiq as far as updating the status and their verification process of type of payment, you’ll need to give it an extra few days for them to process. after the first time, its been fine. I’ve used them to delay paying get 2.63% from boa so minimal $ ahead, but get to pay it off weeks later

caleb
caleb (@guest_216810)
January 12, 2016 17:30

Anything wrong with paying your spouse for rent and have Radpad mail him/her a check? (to hit minimum spend)

LiquidMotivation
LiquidMotivation (@guest_216891)
January 12, 2016 21:37

They’ll ask you to send in your lease agreement documentation – they don’t accept verbal, informal leases.

You could use Venmo, but it has a 3% fee.

Owen
Owen (@guest_216802)
January 12, 2016 17:00

I’ve heard quite a few complaints about Plastiq when it comes to having physical checks mailed, other transactions seems to have less complaints. Anyone have recent experience having Plastiq mail physical checks?

William Charles
Admin
January 12, 2016 18:21

This is RadPad, not Plastiq?

Owen
Owen (@guest_216833)
January 12, 2016 18:30

I figured it was relevant since plastiq is offered as an alternative in this article.

Brian Jabwonski
Brian Jabwonski (@guest_216799)
January 12, 2016 16:43

Worth noting Plastiq doesn’t have the under $5,000 limit for free debit transactions as well