Sniip was a consumer app, offering a consumer rate. We appreciate there was growing demand for business payments with Sniip and to continue to offer this service, we were required to offer a business rate.
We’ve worked really hard to keep our rate as low as possible to accommodate business payments and the rate is reflective of what we’re being charged to process the payment – not a margin increase for Sniip!
However, the good news is, our after tax rate on ALL business tiers are below 1.5%!