Up In My Business

Episode 132: Payment Processors- What to Know and What to Use

Lex Lancaster Season 1 Episode 132

Episode Summary: 

In this episode, I answer a listener question about payment processors: should you use them, which one is best, and what fees really mean for your business. I walk through how I use Stripe, when I opt for integrated payment systems like those in HoneyBook or Jane, and why platform convenience sometimes outweighs lower fees. I also break down what payment processors actually do, why passing fees on to clients isn't the move, and how to price your services to account for them.


Topics I chatted about:

  • Quick update on my ear piercing healing journey (spoiler: don’t wait ‘til you're older to get them done 😅)
  • Monthly recap email sent and general business life updates
  • Shanté’s new podcast ChatGPT Curious launching this Thursday
  • Why understanding how ChatGPT works matters for business owners and creatives
  • Big (mystery) decision I’m sitting on for my business — more soon!
  • Explaining how my anonymous “Ask Lex” form works
  • Listener question: Do I use Stripe or is there something better?
  • What payment processors are and how they work
  • Stripe vs. PayPal — why I always choose Stripe
  • How I use Stripe inside platforms like Acuity Scheduling
    Platforms that have their own integrated payment processors: Kajabi, Jane, and HoneyBook
  • Why I still use integrated systems even if the fees are a little higher
  • When it’s worth paying more for streamlined onboarding, payment plans, or automated billing
  • The mistake of charging clients extra fees to “cover” processor costs
  • Legal and tax notes: processor fees as write-offs and compliance around surcharging
  • Why trying to avoid fees altogether is a waste of energy
  • Final takeaway: price your services to include payment fees and move on — it’s just part of business


Important links mentioned: 


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