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| | | Author: | racerxmtb  | | Posted: | Jun 30, 2021 15:53 | | Subject: | PayPal price increase | | Viewed: | 330 times | | Topic: | Payment Methods | |
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| Hi
Just received email that PayPal is increasing fees from 0.30 to 0.49 per transaction.
Grrr
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| | | | | Author: | wildchicken13 | | Posted: | Jun 30, 2021 16:00 | | Subject: | Re: PayPal price increase | | Viewed: | 135 times | | Topic: | Payment Methods | |
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| In Payment Methods, racerxmtb writes:
| | Hi
Just received email that PayPal is increasing fees from 0.30 to 0.49 per transaction.
Grrr
|
$0.49 + 3.49%, no less (currently $0.30 + 2.9%)
It's too bad. PayPal seems to have a monopoly on the North American payment
market here on BrickLink. Due to the whole sales tax thing, the only viable alternative
seems to be Stripe, and they also charge a 2.9% + $0.30 fee. I wouldn't be
surprised if they raise their fee to match PayPal! Maybe someday, BrickLink will
have it's own payment processing system. But given the slow pace of progress
on this site, I don't think that day is coming anytime soon…
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| | | | | | | Author: | cosmicray | | Posted: | Jun 30, 2021 16:22 | | Subject: | Re: PayPal price increase | | Viewed: | 127 times | | Topic: | Payment Methods | |
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| In Payment Methods, wildchicken13 writes:
| | In Payment Methods, racerxmtb writes:
| | Hi
Just received email that PayPal is increasing fees from 0.30 to 0.49 per transaction.
Grrr
|
$0.49 + 3.49%, no less (currently $0.30 + 2.9%)
It's too bad. PayPal seems to have a monopoly on the North American payment
market here on BrickLink. Due to the whole sales tax thing, the only viable alternative
seems to be Stripe, and they also charge a 2.9% + $0.30 fee. I wouldn't be
surprised if they raise their fee to match PayPal! Maybe someday, BrickLink will
have it's own payment processing system. But given the slow pace of progress
on this site, I don't think that day is coming anytime soon…
|
You need to dig into the PayPal fee change page. My impression is that the fees
we will be charged, will vary between 2.9 and 3.5%, based on the payment type
the buyer presents. for the first few months, this may be a learning experience,
to see what blended number we need to use, to calculate our overhead.
Another site I sell on, has had a variable FVF for quite a few years. My sales
fee is either 0.0%, 2.9%. or 5.9%. depending on how the buyer gets to my product
page.
This is going to make it really hard for sellers (in other countries) to calculate
the PayPal fee in advance, if they want to pass it back to the buyer.
Nita Rae
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| | | | | | | | | Author: | SylvainLS | | Posted: | Jun 30, 2021 17:00 | | Subject: | Re: PayPal price increase | | Viewed: | 99 times | | Topic: | Payment Methods | |
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| In Payment Methods, cosmicray writes:
| | […]
This is going to make it really hard for sellers (in other countries) to calculate
the PayPal fee in advance, if they want to pass it back to the buyer.
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Especially when the law mandates that you don’t charge more than your real cost
(when you’re allowed to charge anything).
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| | | | | | | | | Author: | Teup | | Posted: | Jun 30, 2021 17:38 | | Subject: | Re: PayPal price increase | | Viewed: | 121 times | | Topic: | Payment Methods | |
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| In Payment Methods, cosmicray writes:
| | In Payment Methods, wildchicken13 writes:
| | In Payment Methods, racerxmtb writes:
| | Hi
Just received email that PayPal is increasing fees from 0.30 to 0.49 per transaction.
Grrr
|
$0.49 + 3.49%, no less (currently $0.30 + 2.9%)
It's too bad. PayPal seems to have a monopoly on the North American payment
market here on BrickLink. Due to the whole sales tax thing, the only viable alternative
seems to be Stripe, and they also charge a 2.9% + $0.30 fee. I wouldn't be
surprised if they raise their fee to match PayPal! Maybe someday, BrickLink will
have it's own payment processing system. But given the slow pace of progress
on this site, I don't think that day is coming anytime soon…
|
You need to dig into the PayPal fee change page. My impression is that the fees
we will be charged, will vary between 2.9 and 3.5%, based on the payment type
the buyer presents. for the first few months, this may be a learning experience,
to see what blended number we need to use, to calculate our overhead.
Another site I sell on, has had a variable FVF for quite a few years. My sales
fee is either 0.0%, 2.9%. or 5.9%. depending on how the buyer gets to my product
page.
This is going to make it really hard for sellers (in other countries) to calculate
the PayPal fee in advance, if they want to pass it back to the buyer.
Nita Rae
|
Yeah, PayPal does everything to hide their fees. Once they updated (=increased)
their fees, and I couldn't find anywhere in their terms what the new rates
exactly were for each (buyer) country. It took several calls with the PayPal
helpdesk to figure it out, it ended up to be listed in a table as something completely
different (I believe credit card charges) which happened to match the fees that
had been charged in my recent payments.
Recently I commented on a PayPal facebook ad that they're not a viable option
since the fees are just too high, and they removed my comment and banned me from
liking or responding to their posts. Pretty sad if you need to act like that
as part of your business model.
Meanwhile, they do everything to appear on top, even though they're not a
good option. They have a clause in their terms that you're not allowed to
make other payment methods more visible, or say anything bad about PayPal
(like I'm doing now), or your account can be terminated. While at the same
time they don't follow their own standards, because once you enable PayPal
payment in a Wordpress webshop, the whole thing gets plastered with yellow banners
that are like "USE PAYPAL! WHAT IS PAYPAL? CLICK HERE FOR PAYPAL! YOU CAN PAY
BY PAYPAL DID YOU KNOW THAT????" 
What a lame and childish company.
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| | | | | | | | | | | Author: | whitefane | | Posted: | Jul 14, 2022 13:41 | | Subject: | Re: PayPal price increase | | Viewed: | 98 times | | Topic: | Payment Methods | |
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| Feeling pretty much the same.
I think the LEGO community should work something else out in finding a better
app doing so.....
But the sad thing is, so far it seems like only Paypal can stop the scammer somehow
and solve issues between buyers and sellers.
In Payment Methods, Teup writes:
| | In Payment Methods, cosmicray writes:
| | In Payment Methods, wildchicken13 writes:
| | In Payment Methods, racerxmtb writes:
| | Hi
Just received email that PayPal is increasing fees from 0.30 to 0.49 per transaction.
Grrr
|
$0.49 + 3.49%, no less (currently $0.30 + 2.9%)
It's too bad. PayPal seems to have a monopoly on the North American payment
market here on BrickLink. Due to the whole sales tax thing, the only viable alternative
seems to be Stripe, and they also charge a 2.9% + $0.30 fee. I wouldn't be
surprised if they raise their fee to match PayPal! Maybe someday, BrickLink will
have it's own payment processing system. But given the slow pace of progress
on this site, I don't think that day is coming anytime soon…
|
You need to dig into the PayPal fee change page. My impression is that the fees
we will be charged, will vary between 2.9 and 3.5%, based on the payment type
the buyer presents. for the first few months, this may be a learning experience,
to see what blended number we need to use, to calculate our overhead.
Another site I sell on, has had a variable FVF for quite a few years. My sales
fee is either 0.0%, 2.9%. or 5.9%. depending on how the buyer gets to my product
page.
This is going to make it really hard for sellers (in other countries) to calculate
the PayPal fee in advance, if they want to pass it back to the buyer.
Nita Rae
|
Yeah, PayPal does everything to hide their fees. Once they updated (=increased)
their fees, and I couldn't find anywhere in their terms what the new rates
exactly were for each (buyer) country. It took several calls with the PayPal
helpdesk to figure it out, it ended up to be listed in a table as something completely
different (I believe credit card charges) which happened to match the fees that
had been charged in my recent payments.
Recently I commented on a PayPal facebook ad that they're not a viable option
since the fees are just too high, and they removed my comment and banned me from
liking or responding to their posts. Pretty sad if you need to act like that
as part of your business model.
Meanwhile, they do everything to appear on top, even though they're not a
good option. They have a clause in their terms that you're not allowed to
make other payment methods more visible, or say anything bad about PayPal
(like I'm doing now), or your account can be terminated. While at the same
time they don't follow their own standards, because once you enable PayPal
payment in a Wordpress webshop, the whole thing gets plastered with yellow banners
that are like "USE PAYPAL! WHAT IS PAYPAL? CLICK HERE FOR PAYPAL! YOU CAN PAY
BY PAYPAL DID YOU KNOW THAT????"
What a lame and childish company.
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| | | | | | | | | Author: | zorbanj | | Posted: | Jul 1, 2021 09:24 | | Subject: | Re: PayPal price increase | | Viewed: | 81 times | | Topic: | Payment Methods | |
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| Here's a link from an email I received from PayPal:
https://www.paypal.com/us/business/business-rates?utm_source=epsilon&utm_campaign=A_OW_EM_AH_HR_NI_NI_202106_125763_Email_Full_value_Conv_US_en_US&utm_medium=email
Looks like relevant fees are as follows:
2.59% + 0.49 for credit and debit card payments. There's a graphic that compares
this fee favorably to Stripe and Authorize.Net. I think many BL payments will
land here.
2.99% + 0.49 fee for the above if you choose to enroll in PayPal Chargeback Protection.
I found no details about what this is yet.
3.49% + 0.49 for PayPal Digital Payments (PayPal, Pay Later, Venmo, Checkout
with Crypto).
In Payment Methods, cosmicray writes:
| |
You need to dig into the PayPal fee change page. My impression is that the fees
we will be charged, will vary between 2.9 and 3.5%, based on the payment type
the buyer presents. for the first few months, this may be a learning experience,
to see what blended number we need to use, to calculate our overhead.
Another site I sell on, has had a variable FVF for quite a few years. My sales
fee is either 0.0%, 2.9%. or 5.9%. depending on how the buyer gets to my product
page.
This is going to make it really hard for sellers (in other countries) to calculate
the PayPal fee in advance, if they want to pass it back to the buyer.
Nita Rae
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| | | | | | | | | | | Author: | peregrinator | | Posted: | Jul 1, 2021 09:30 | | Subject: | Re: PayPal price increase | | Viewed: | 72 times | | Topic: | Payment Methods | |
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| In Payment Methods, zorbanj writes:
| | 2.59% + 0.49 for credit and debit card payments. There's a graphic that compares
this fee favorably to Stripe and Authorize.Net. I think many BL payments will
land here.
|
I'm not too sure. My distinct impression was that this was the fee for using
PayPal as your business's credit/debit card payment processor, not using
credit/debit to pay with PayPal. That is, if you use PayPal to process credit
card payments, but behind the scenes, this fee is what you pay. Hence the comparisons
to Stripe and Authorize.Net. If you have a PayPal button, I think the fee is
3.49%+$0.49 regardless of the ultimate source of the payment (credit card, debit
card, bank account, balance, etc.).
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| | | | | | | | | | | | | Author: | zorbanj | | Posted: | Aug 4, 2021 15:49 | | Subject: | Re: PayPal price increase | | Viewed: | 82 times | | Topic: | Payment Methods | |
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| You were right. The PayPal fee for BL orders are 3.49% + a 0.49 fee.
In Payment Methods, peregrinator writes:
| | In Payment Methods, zorbanj writes:
| | 2.59% + 0.49 for credit and debit card payments. There's a graphic that compares
this fee favorably to Stripe and Authorize.Net. I think many BL payments will
land here.
|
I'm not too sure. My distinct impression was that this was the fee for using
PayPal as your business's credit/debit card payment processor, not using
credit/debit to pay with PayPal. That is, if you use PayPal to process credit
card payments, but behind the scenes, this fee is what you pay. Hence the comparisons
to Stripe and Authorize.Net. If you have a PayPal button, I think the fee is
3.49%+$0.49 regardless of the ultimate source of the payment (credit card, debit
card, bank account, balance, etc.).
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| | | | | Author: | Phantom_Buyer | | Posted: | Jun 30, 2021 18:29 | | Subject: | Re: PayPal price increase | | Viewed: | 111 times | | Topic: | Payment Methods | |
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| In Payment Methods, racerxmtb writes:
| | Hi
Just received email that PayPal is increasing fees from 0.30 to 0.49 per transaction.
Grrr
|
Such a shame. As a store that most orders are within 2-10 dollars, that hits
hard. This may not affect many stores with the average order amount of $25+ but
for me, the "0.49" per transaction on many orders is 1/5 of the total orders
in just a part of the Paypal fees. I will be closing down the store permanently
if this is the case. I will look more into it but I think that is the case.
I'll make a post later but if anyone is interested in purchasing all my parts
(minifigures and sets optional) for a solid price let me know. Offer me anything
at this point. Take care, - SB
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| | | | | | | Author: | reidstep | | Posted: | Jul 1, 2021 10:08 | | Subject: | Re: PayPal price increase | | Viewed: | 61 times | | Topic: | Payment Methods | |
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| In Payment Methods, Phantom_Buyer writes:
| | In Payment Methods, racerxmtb writes:
| | Hi
Just received email that PayPal is increasing fees from 0.30 to 0.49 per transaction.
Grrr
|
Such a shame. As a store that most orders are within 2-10 dollars, that hits
hard. This may not affect many stores with the average order amount of $25+ but
for me, the "0.49" per transaction on many orders is 1/5 of the total orders
in just a part of the Paypal fees. I will be closing down the store permanently
if this is the case. I will look more into it but I think that is the case.
I'll make a post later but if anyone is interested in purchasing all my parts
(minifigures and sets optional) for a solid price let me know. Offer me anything
at this point. Take care, - SB
|
You should activate the paypal dynamic micropayments. New fees will be 4.99%
+ $0.09. So you will save money over the standard fees on orders up to $26. The
dynamic account will pick which fee structure is best based on order value.
That said... are there any other options people use besides paypal and stripe...
since paypal is getting expensive and stripe doesn't like to give bricklink
sellers their money.
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| | | | | | | | | Author: | wildchicken13 | | Posted: | Jul 1, 2021 13:19 | | Subject: | Re: PayPal price increase | | Viewed: | 63 times | | Topic: | Payment Methods | |
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| In Payment Methods, reidstep writes:
| | In Payment Methods, Phantom_Buyer writes:
| | In Payment Methods, racerxmtb writes:
| | Hi
Just received email that PayPal is increasing fees from 0.30 to 0.49 per transaction.
Grrr
|
Such a shame. As a store that most orders are within 2-10 dollars, that hits
hard. This may not affect many stores with the average order amount of $25+ but
for me, the "0.49" per transaction on many orders is 1/5 of the total orders
in just a part of the Paypal fees. I will be closing down the store permanently
if this is the case. I will look more into it but I think that is the case.
I'll make a post later but if anyone is interested in purchasing all my parts
(minifigures and sets optional) for a solid price let me know. Offer me anything
at this point. Take care, - SB
|
You should activate the paypal dynamic micropayments. New fees will be 4.99%
+ $0.09. So you will save money over the standard fees on orders up to $26. The
dynamic account will pick which fee structure is best based on order value.
That said... are there any other options people use besides paypal and stripe...
since paypal is getting expensive and stripe doesn't like to give bricklink
sellers their money.
|
Unfortunately, no. Don't get me wrong; there are plenty of offsite payment
options, but the problem is that most payments now need to be made onsite so
that BrickLink can collect sales tax (USA) or VAT (EU). That leaves only PayPal
and Stripe, which also collects fees and, like you mentioned, doesn't understand
how BrickLink works. I think I read somewhere that BrickLink is looking into
alternative onsite payment options, but who knows how long that will take.
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| | | | | | | | | | | Author: | SylvainLS | | Posted: | Jul 1, 2021 13:31 | | Subject: | Re: PayPal price increase | | Viewed: | 69 times | | Topic: | Payment Methods | |
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| In Payment Methods, wildchicken13 writes:
| | […]
I think I read somewhere that BrickLink is looking into
alternative onsite payment options, but who knows how long that will take.
|
It’s in the VAT FAQ for instance.
But my take is that it won’t change anything because they’ll be looking at using
those other payment methods through Stripe or PayPal (which can already do that
for some of them and it’s just an option in the integration with the site/BL).
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| | | | | | | Author: | racerxmtb | | Posted: | Jul 1, 2021 10:24 | | Subject: | Re: PayPal price increase | | Viewed: | 57 times | | Topic: | Payment Methods | |
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| In Payment Methods, Phantom_Buyer writes:
| | In Payment Methods, racerxmtb writes:
| | Hi
Just received email that PayPal is increasing fees from 0.30 to 0.49 per transaction.
Grrr
|
Such a shame. As a store that most orders are within 2-10 dollars, that hits
hard. This may not affect many stores with the average order amount of $25+ but
for me, the "0.49" per transaction on many orders is 1/5 of the total orders
in just a part of the Paypal fees. I will be closing down the store permanently
if this is the case. I will look more into it but I think that is the case.
I'll make a post later but if anyone is interested in purchasing all my parts
(minifigures and sets optional) for a solid price let me know. Offer me anything
at this point. Take care, - SB
|
I am winding down my store too. It will take years, but I'm not going to
buy much new inventory.
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| | | | | Author: | runner.caller | | Posted: | Jul 1, 2021 10:42 | | Subject: | Re: PayPal price increase | | Viewed: | 96 times | | Topic: | Payment Methods | |
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| In Payment Methods, racerxmtb writes:
| | Hi
Just received email that PayPal is increasing fees from 0.30 to 0.49 per transaction.
Grrr
|
Just cashing in on the convenience. You notice how Amazon Prime has duped everyone.
They used to be the cheapest with free shipping on just about everything and
now they are so-so, but people still use them cause they're addicted to the
convenience.
Wow, annoying to increase the % and the fixed.
Especially since everything is increasing in price anyway.
So if an item years ago was $10, they were getting $0.59
Now, that same item might cost $17 and instead of getting $.79, they'll get
$1.08
I'll keep an eye on paypal's annual report next year (form 10K). Guarantee
the CEO will get some 7 figure bonus for implementing this to "boost revenues".
A lot of the C-suite types got COVID bonuses for "their quick response
to the pandemic and positioning their companies to be successful post pandemic"
all while they were laying employees off.
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| | | | | | | Author: | runner.caller | | Posted: | Jul 14, 2022 14:30 | | Subject: | Re: PayPal price increase | | Viewed: | 54 times | | Topic: | Payment Methods | |
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| | | Wow, annoying to increase the % and the fixed.
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| | I'll keep an eye on paypal's annual report next year (form 10K). Guarantee
the CEO will get some 7 figure bonus for implementing this to "boost revenues".
|
It looks like those paypal fee increases aren't going to waste!
CEO cleared an additional $8.7 Million in total compensation from 2020 to 2021!
Daniel H. Schulman
-President and
-Chief Executive Officer
Total Compensation 2021 - $32,070,353
Total Compensation 2020 - $23,362,072
Total Compensation 2019 - $25,825,473
www.otcmarkets.com/filing/html?id=15738719&guid=7QU-kWBjCL1jJth#D260160DDEF14A_HTM_toc260160_35
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| | | | | Author: | jbo210 | | Posted: | Jul 2, 2021 22:05 | | Subject: | Re: PayPal price increase | | Viewed: | 70 times | | Topic: | Payment Methods | |
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| racerxmtb,
Yes, very frustrating. I wonder if this is caused by economic issues stemming
from COVID but it's been over a year now and the increase just occurred?
Really makes me wonder the true cause of why...
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| | | | | | | Author: | Tracyd | | Posted: | Jul 14, 2022 14:42 | | Subject: | Re: PayPal price increase | | Viewed: | 56 times | | Topic: | Payment Methods | |
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| In Payment Methods, jbo210 writes:
| | racerxmtb,
Yes, very frustrating. I wonder if this is caused by economic issues stemming
from COVID but it's been over a year now and the increase just occurred?
Really makes me wonder the true cause of why...
|
Let's place the answer is C.
A: Inflation.
B: Lack of competition.
C: Because they can.
The correct answer is C.
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| | | | | | | | | Author: | qwertyboy | | Posted: | Jul 14, 2022 15:13 | | Subject: | Re: PayPal price increase | | Viewed: | 63 times | | Topic: | Payment Methods | |
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| In Payment Methods, Tracyd writes:
| | In Payment Methods, jbo210 writes:
| | racerxmtb,
Yes, very frustrating. I wonder if this is caused by economic issues stemming
from COVID but it's been over a year now and the increase just occurred?
Really makes me wonder the true cause of why...
|
Let's place the answer is C.
A: Inflation.
B: Lack of competition.
C: Because they can.
The correct answer is C.
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In pretty much all of the for-profit companies, monetary goals are set by the
stakeholders (shareholders, board of directors etc). The vast majority of stakeholders
expect (read: require) the company to increase its yearly profits. _How_ this
is done is most times not of interest, and is up to the CEO and his/her minions.
You could grow your client base, sell more product to existing clients, create
new products to sell, work "leaner" (decrease your costs) or indeed simply raise
your prices. Since Paypal is, for large swaths of the world, still the de-facto
payment processor for online transactions (despite whatever Stripe et al try
to do), price increase is the easy way to increase profits.
So yeah, C it is.
Niek.
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| | | | | Author: | legokopen | | Posted: | Jul 22, 2022 03:47 | | Subject: | Re: PayPal price increase | | Viewed: | 83 times | | Topic: | Payment Methods | |
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| In Payment Methods, racerxmtb writes:
| | Hi
Just received email that PayPal is increasing fees from 0.30 to 0.49 per transaction.
Grrr
|
I am seriously considering to cancel the PayPal payment option in my store. Of
course that will discourage a lot of sales outside EU, but there are plenty of
other options if someone would like to buy.
PayPal deserves to go bankrupt, with their shameless greed.
First you pay a fixed fee, then 3.5%, then when there is a currency conversion
involved it's another 4%. Just for transferring money. That's free, or
almost free, with most banks.
Since I live in the Netherlands, I usually use a Revolut bank account (with a
debit card, everything for free) to exchange currencies, such as paying my BrickLink
fees, that are in US$. Highly recommended!
As a seller, PayPal doesn't help you in case of problems.
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| | | | | | | Author: | wildchicken13 | | Posted: | Jul 22, 2022 12:09 | | Subject: | Re: PayPal price increase | | Viewed: | 55 times | | Topic: | Payment Methods | |
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| In Payment Methods, legokopen writes:
| | In Payment Methods, racerxmtb writes:
| | Hi
Just received email that PayPal is increasing fees from 0.30 to 0.49 per transaction.
Grrr
|
I am seriously considering to cancel the PayPal payment option in my store. Of
course that will discourage a lot of sales outside EU, but there are plenty of
other options if someone would like to buy.
PayPal deserves to go bankrupt, with their shameless greed.
|
Oof
| | First you pay a fixed fee, then 3.5%, then when there is a currency conversion
involved it's another 4%. Just for transferring money. That's free, or
almost free, with most banks.
Since I live in the Netherlands, I usually use a Revolut bank account (with a
debit card, everything for free) to exchange currencies, such as paying my BrickLink
fees, that are in US$. Highly recommended!
|
Is it possible to use IBAN in the U.S.? I agree that PayPal is not the best,
but I don't know of any better alternatives.
| | As a seller, PayPal doesn't help you in case of problems.
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| | | | | | | | | Author: | SylvainLS | | Posted: | Jul 22, 2022 12:43 | | Subject: | Re: PayPal price increase | | Viewed: | 43 times | | Topic: | Payment Methods | |
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| In Payment Methods, wildchicken13 writes:
| | […]
Is it possible to use IBAN in the U.S.?
|
Yes and no.
Yes because ‘IBAN’ is just bank transfers… and that, you can do in the USA….
But no because:
1. There’s different ways for banks to talk, ‘networks’: SWIFT (international),
or Fedwire or CHIPS (USA), or others. If buyer & seller banks are not on the
same network, it costs more.
2. Bank transfers are widely used in Europe (salaries, rents, subscriptions…),
so domestic transfers are mostly free (especially if you do them online).
I don’t think it’s the case in the USA.
3. There’s a common market in Europe (EU but not only, there’s treaties with
neighbours), and especially there’s an agreement called SEPA (Single Euro Payment
Area) that forces banks to apply the same conditions & fees for all payments
in Euro in that ‘Area’.
So SEPA payments cost the same as domestic payment: mostly free of charge.
(Caveat: payments in Euro. So conversion fees still apply.)
So the US problem is mainly that you don’t use bank transfers enough for your
banks to compete on their fees or make agreements with other countries.
| | I agree that PayPal is not the best, but I don't know of any better alternatives.
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USA, Arizona
France, Nouvelle-Aquitaine
Netherlands, Utrecht
Canada, Alberta