mdude85 wrote:
pamkel wrote:
To verify your identification they want either a copy of your passport or drivers license or use a credit card by charging .01 cent to the account. One cent identification verification alone gave them $176,000 bucks.

I'm glad that MPIX changed the wording.

For Shutterstock to make $176,000 off individual 1-cent charges, they would need to charge 17.6 million subscribers, but they only have about 180,000 active photographers, so the most they could probably make from 1-cent charges is $1800.


And that's BEFORE the credit card company's charges. They are most likely LOSING somewhere between $.25 and $.50 a transaction.

I doubt they are losing money, but my guess is that they are not making any money at all. The typical charge percentage for merchants is around 2-3%, so it would not make any sense that they would lose $.25-.50 on a $.01 charge. Maybe there is a special annual fee for those $.01 verification charges, since they are quite common these days.

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mdude85 wrote:
I doubt they are losing money, but my guess is that they are not making any money at all. The typical charge percentage for merchants is around 2-3%, so it would not make any sense that they would lose $.25-.50 on a $.01 charge. Maybe there is a special annual fee for those $.01 verification charges, since they are quite common these days.

Many vendors get charged $.25-.50 per transaction, plus the 2-3% charge (these are always negotiated). This is why you often see smaller operations refuse to take credit cards for transactions of less than $10-$15. A $.50 + 3% charge on a $10 bill could easily eat up more than your profit margin.

pamkel wrote:
Oh, my gosh. I have terrible math don't I?? My apologies. OK, help me out with this one since I have such a problem with zeros.

40,000 photographers belong to a image hosting service.

If the cheapest monthly package is $30.00 how much are they taking in monthly and (since I'm bad with zeros) yearly?

How is this relevant to your prior mistatement/lie about their service?

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It doesn't seem that you've asked a question... Also, what does shutterstock have to do with this thread? I'm thoroughly confused.

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Oh I see. 40,000 x $30 is $1,200,000.

Shutterstock has absolutely nothing to do with this thread.

Silly me. My apologies.

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Remember, in business it is not so much about avoiding every error, but how you correct those errors after they are made. Good move Mpix.

pamkel wrote:
pyrodenny commented,
not if Mpix sets up an account on shutterstock or something and dumps a huge amount of uploaded photo's from "us"




that's neither her nor there because that's not what the jargon is intended for, but continue to argue your nonsensical drivel.