Ken Yeung is a reporter for The Next Web based in San Francisco, CA. He carries around a big camera & likes to write about tech, startup Ken Yeung is a reporter for The Next Web based in San Francisco, CA. He carries around a big camera & likes to write about tech, startups, parties, and interesting people. Follow him on Twitter, on Facebook, and Google+.
Marketplace payment startup Balanced today announced its pricing tiers for those interested in volume processing. With this formalized structure, the company hopes this will add some transparency for its users to understand how Balanced charges.
For those who are processing less than $100,000 per month through Balanced, the transaction rate has been set at 2.9 percent plus $0.30. As the volume increases, the percentage rate decreases slightly until the volume exceeds $5 million. At that point, customers will pay 1.9 percent plus $0.30.
Balanced says that today’s announcement makes it more open compared to competitors like Stripe and PayPal owned-Braintree. Company co-founder Jareau Wade says that Stripe and Braintree tend to negotiate one-off pricing agreements after they’ve exceeded the 2.9 percent rate.
As a payment processing and management service, Balanced has certainly had a busy 2013. It tells us that December was one of its biggest months ever — giving it an annualized run-rate of over $370 million. The company is now servicing more than 440 marketplaces and crowdfunding platforms. To put these numbers into perspective, it equates to a 757 percent growth in transaction volume and 784 percent increase in customer acquisitions.
Photo credit: Dan Kitwood/Getty Images
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