No Contract Disclosure
There is very little up-to-date information regarding the standard Greater Giving contract, and the company’s website does not divulge any specific pricing details about its online payment platform. However, a 2010 post on an auction-oriented forum does provide some insight into Auctionpay’s contract terms around that time. These terms may have been exclusive to auction-style businesses or even to the single merchant who posted them, but they do provide some insight into the company’s standard pricing at one time. According to the information in this post, the company’s pricing was as follows:
Complete Event Suite $2,595 – 1-Year Term = $1,295 & 5-Year Term = $795
Event Payments $395 – 1-Year Term = $395 & 5-Year Term = $0
Event Software $1,195 – 1-Year Term = $295 & 5-Year Term = $295
Online Edition Add-on $595 – 1-Year Term = $595 & 5-Year Term = $595
Online Payments $695 – 1-Year Term = $695 & 5-Year Term = $295
Virtual Terminal Only $195 – 1-Year Term = $195 & 5-Year Term = $0
An Event Service Fee also applied to in-person payments collected at fundraising events:
B2.1 The Service Fee for the Auctionpay Event Payments service is based on the total of Approved Event Charges processed through Auctionpay Event Payments services for each Event. Service Fees for the Auctionpay Event Payments services are deducted from the proceeds of your Event Charges.
Total Approved Event Charges for Each Event Service Fee Number of Terminals Included
Less than $25,000 – $495 fee Up to 3 terminals
$25,000 – $99,999 1.99% Up to 4
$100,000 – $199,999 1.60% Up to 6
$200,000 – $299,999 1.30% Up to 6
$300,000 – $399,999 1.10% As needed
$400,000 and above 0.90% As needed
AuctionPay 2010 Per-Transaction Rates
Under that contract, the following credit card processing fees applied to Greater Giving users:
B3.1 All approved Event Charges will be subject to the following pass-through fee to cover the cost of processing the transactions, in addition to the Service Fees listed above. Pass-through fees are deducted from the proceeds of your Event Charges.
Type of Credit Card Event Payments
Visa, MasterCard or Discover 1.75%
American Express 2.25%
B4.1 All approved Online Charges processed through the Auctionpay Online Payments services will be subject to the following processing fees. Processing fees for Auctionpay Online Payments services are deducted from the proceeds of your Online Charges.
Type of Credit Card Processing Fee
Visa, MasterCard, Discover or American Express 3.45% plus $0.35 per transaction
In addition, the Greater Giving contract terms referenced in the link above outline an automatically renewing one-year or five-year agreement with a Liquidated Damages early termination fee equal to the remaining annual costs multiplied by the number of years left in the contract. Neither the per-transaction fees nor the other one-time fees in this document are competitive for the industry; in fact, their combined costs could potentially exceed those of nearly every known processor. One complaint found in the comment section below this review confirms that the company offers five-year contracts, which is as long as contracts get in the credit card processing industry.
Few Contract Complaints
Given the lack of current details about Greater Giving’s pricing, we will only lower the company’s grade to a “C” at this time. It should also be noted that there are only a few publicly available complaints that mention excessive fees charged by Greater Giving. Despite this, it seems unlikely that Greater Giving’s pricing is competitive with that offered by the cheapest merchant account providers.