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PayPal raises fees for most domestic transaction types to 3.49% + $0.49

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Re: PayPal raises fees for most domestic transaction types to 3.49% + $0.49

#141

Post by megous »

bserge wrote: post #5

Still the easiest way to start selling online, at least in Europe... They've got the low volume starter business niche by the balls.

Easiest way to start selling is just to put your bank account number on a website or send it via email. I've yet to find a service that doesn't offer bank transfer. And since this year it's also 0 fees, instant payments.

If you pick a right bank, you also get a JSON/HTTP based API for free, if you want to get your payment processing fancier later on. And your funds are insured.

PayPal is ridiculously expensive and risky way to receive money, and not simple at all. As a result almost nobody offers it in Czechia.

Re: PayPal raises fees for most domestic transaction types to 3.49% + $0.49

#142

Post by herbst »

sdrinf wrote: post #36

Has anyone ran a recent A/B test for Stripe direct CC-based checkout + paypal vs Stripe only in the context of B2C subscriptions? Last time I've checked circa 2014-2015, there was consumer trust in Paypal (for cancellation/etc), and so having that option added ~+10% conversion rate (or so), but would appreciate more recent data, thank you!

I am kinda forced to accept PayPal because credit card adoption is not as big in the German speaking area of Europe. Especially the younger audience often only has PayPal.

I have no exact numbers but like 70% of orders I get from Germany are paid with PayPal.

When I added PayPal to a SaaS of mine a few years ago only like 3% even used it.

Re: PayPal raises fees for most domestic transaction types to 3.49% + $0.49

#143

Post by herbst »

tofukid wrote: post #102

I still use PayPal because it has the best global coverage and least friction for consumers. Their new checkout form also seamlessly accepts credit/debit cards and does subscriptions. Many of my customers are in countries that aren’t supported by Stripe, so it’s not much of a choice from a business perspective.

The reason I use PayPal is because it doesn't trigger the credit card SMS confirmation that is enforced in europe and I don't have a phone number to receive them.

Re: PayPal raises fees for most domestic transaction types to 3.49% + $0.49

#144

Post by saurik »

kube-system wrote: post #64
runeks wrote: post #47

Earlier quoted context omitted.

> You had to activate it with customer support, though. I wonder why that is. Are they offering this service at a loss? If not, why not offer it to everyone automatically?

I figure most people make transactions over ~$12, which would cost more in fees at the 5% + 0.05 rate.

Yeah, but so what was always annoying about it is that they don't just automatically give you the better rate on transactions where it makes sense, considering that they explicitly would suggest you create multiple accounts--one with micropayments set and one without--and split your payments between them depending on which would be better. I guess maybe the bulk fee rate threshold would then be separate? Amazon Flexible Payments (which was amazing but was killed with no migration path and for a shitty expensive replacement) just did it all automatically for you to give you good rates (and even had fee tiers for tiny transactions down to I think even less than a penny, if you were working with an internal balance transfer and not an external payment like a credit card).

Re: PayPal raises fees for most domestic transaction types to 3.49% + $0.49

#145

Post by yarcob »

arnvald wrote: post #91
dr_dshiv wrote: post #59

When I moved to the Netherlands, I was at first irritated that my credit cards weren't accepted anywhere. But as the debit (maestro) card transactions are often free [1], paying 3%+ to a card service does seem exorbitant. For online payments, the Dutch use the IDEAL system, which is even easier than online credit cards. This also prevents vendor lock-in, like Amazon. And, the banking apps make it super easy to send m…

I like that, too. The only thing that bothers me is that Maestro cards can't be used for online payments, so if I buy something from other countries (where shops don't support iDeal) I still need to use credit card, and support for credit cards in NL is pretty bad. Btw these high transaction fees are the reason why loyalty programs are so good in US while so bad in EU. EU caps credit card fees at around 1.5%, while i…

In Austria banks switched from Maestro to Mastercard Debit to make online payments easier.

Re: PayPal raises fees for most domestic transaction types to 3.49% + $0.49

#146

Post by krageon »

arnvald wrote: post #91
dr_dshiv wrote: post #59

When I moved to the Netherlands, I was at first irritated that my credit cards weren't accepted anywhere. But as the debit (maestro) card transactions are often free [1], paying 3%+ to a card service does seem exorbitant. For online payments, the Dutch use the IDEAL system, which is even easier than online credit cards. This also prevents vendor lock-in, like Amazon. And, the banking apps make it super easy to send m…

I like that, too. The only thing that bothers me is that Maestro cards can't be used for online payments, so if I buy something from other countries (where shops don't support iDeal) I still need to use credit card, and support for credit cards in NL is pretty bad. Btw these high transaction fees are the reason why loyalty programs are so good in US while so bad in EU. EU caps credit card fees at around 1.5%, while i…

> Maestro cards can't be used for online payments

They can, for example ~15 years ago I used a maestro card to pay for a subscription to Sony. All they needed was a card number and an address (the latter for tax reasons, that is mandatory).

Re: PayPal raises fees for most domestic transaction types to 3.49% + $0.49

#148

Post by krageon »

tinus_hn wrote: post #133
Sander_Marechal wrote: post #131

Earlier quoted context omitted.

Yes there is, talk to your bank. Consumer protection is way better in the EU. I use the same Dutch bank that the OP uses (ING) and I can revert many transactions from right inside the app.

You can revert automatic transactions (as these are unauthorized and can be done by parties that know just your account number) but it is impossible to revert iDeal payments.

> as these are unauthorized

It is mandatory to request authorization, but the banks do not have a way to verify that outside of a little flag that says "yes I definitely asked".

https://gocardless.com/guides/sepa/mandates/

Re: PayPal raises fees for most domestic transaction types to 3.49% + $0.49

#149

Post by krageon »

throwaway473825 wrote: post #134
twoslide wrote: post #128

Earlier quoted context omitted.

Would you propose a national price cap on transaction charges? It would be hard to justify intervening in this way, given that there is plenty of competition and rates are not very different. Any transaction (even cash) has associated costs.

I'm yet to find a European that complains about the EU's caps on interchange fees for debit and credit cards. Is a regulation like this unfathomable for most Americans?

Folks in the US are so used to corporations stepping on them a balanced discussion about this (where both parties agree that you being exploited is not okay, but maybe disagree on the solution) is no longer possible.

Re: PayPal raises fees for most domestic transaction types to 3.49% + $0.49

#150

Post by EastOfTruth »

jointpdf wrote: post #39
dessant wrote: post #7

PayPal is awful for small transactions, I regularily get donations for my projects that are literally 0 USD, because all of it is eaten away by PayPal fees, and even for a 5 USD donation you end up losing around 15% of the transaction amount. Do you know of any other service that is suitable for microtransactions, besides cryptocurrencies?

What about Venmo? Or Cash App? Venmo has been ubiquitous for years—everyone seems to have it. I’ve used it for everything from buying plants at the farmer’s market to paying rent and medical expenses. Edit: Of course the default broadcasting of your payments to a social feed is bonkers and needs to be turned off.

Venmo is owned by Paypal
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