The big obstacle for digital content producers to offer quick and easy products or services for small dollar amounts may soon be left in the dust thanks to a new innovation by JetPay Payment Services.
The Berwyn payment processor recently partnered with Cardis USA to roll out a new solution for small-dollar transactions that cuts processing costs by up to 70 percent, according to a PR Newswire report.
Instead of processing — and paying a fee — for every small transaction, JetPay can now handle several small transactions as one larger one.
“Currently, the music industry relies heavily on third-party, online retailers to sell music to fans,” Cardis International Chief Operating Officer Nebo Djurdjevic said in the article. “These online retailers take 30 percent or more of every dollar sold through their platform, with a large share of this percentage going toward covering the cost of processing small payments. Cardis and JetPay are excited to offer our new solution that reduces this expense, making traditional credit/debit card payments affordable for small payments.”
Read more about the partnership and its potential to further transform the music industry on PR Newswire here.
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