evolvewh Posted August 25, 2013 Report Share Posted August 25, 2013 Does anyone else think the fees charged by PayPal are rediculous? I let 2 customers pay that way and got charged way more in service fees than Bluepay charges me. $165USD payment was a $5.09 fee from PayPal. Amyamoxylea 1 Quote Link to comment Share on other sites More sharing options...
MemoryX2 Posted August 25, 2013 Report Share Posted August 25, 2013 Does anyone else think the fees charged by PayPal are rediculous? I let 2 customers pay that way and got charged way more in service fees than Bluepay charges me. $165USD payment was a $5.09 fee from PayPal. I use them but they are higher than I would prefer. Quote Link to comment Share on other sites More sharing options...
Gualter Posted August 25, 2013 Report Share Posted August 25, 2013 You survive if you eat. Paypal survive with rates Quote Link to comment Share on other sites More sharing options...
xison Posted August 25, 2013 Report Share Posted August 25, 2013 I always set my pricing with taking into account transaction costs. It's an unfortunate fact of life when it comes to running a business. On the plus side, those fee's are a business expense and can be written off. Quote Link to comment Share on other sites More sharing options...
Michael Posted August 25, 2013 Report Share Posted August 25, 2013 They charge 3.40% and 20p fee on GBP Payments and 2.90% and 30c on USD payments. I have a PayPal calculator app on my android But yeah they are high if you charge 10p you get nothing, if you charge 20p you get nothing. evolvewh 1 Quote Link to comment Share on other sites More sharing options...
evolvewh Posted August 25, 2013 Author Report Share Posted August 25, 2013 I always set my pricing with taking into account transaction costs. It's an unfortunate fact of life when it comes to running a business. On the plus side, those fee's are a business expense and can be written off. It's good that it's a tax write off (I did know that) but until I get a bigger client base and more than 1-5 asking for it, I'm going back to Bluepay. They can pay with all major credit cards including amex with us. Quote Link to comment Share on other sites More sharing options...
Gualter Posted August 25, 2013 Report Share Posted August 25, 2013 we have 2.7% in paypal and 2.9% in Moneybookers ( skrill ) Quote Link to comment Share on other sites More sharing options...
xison Posted August 25, 2013 Report Share Posted August 25, 2013 I'm in Canada and the only options I was aware of were Paypal & Stripe. Stripe is great, its really easy to program for and the rates are on par with Paypal. Bluepay looks interesting. Their fee looks to be 1% lower or so (In Canada at least). And their rolling deposit is within 24 hours. This is one thing I'm not fond of with Stripe, as it takes 7 days to deposit to my account. At least with Paypal I can access the funds thru other companies who accept Paypal, immediately after receiving payment. The tradeoff, however, is they can lock your account right out for stupid reasons - I'm sure you've all read the horror stories. I'm going to really look into Bluepay. I don't think Blesta has a module for it yet, do they? Quote Link to comment Share on other sites More sharing options...
evolvewh Posted August 25, 2013 Author Report Share Posted August 25, 2013 we have 2.7% in paypal and 2.9% in Moneybookers ( skrill ) Plus 30 cents, right? I looked at a transaction from Bluepay for $179.94. They took .65 and of course I have the monthly fee but with a couple of transactions, that's washed right out. Quote Link to comment Share on other sites More sharing options...
evolvewh Posted August 25, 2013 Author Report Share Posted August 25, 2013 I'm in Canada and the only options I was aware of were Paypal & Stripe. Stripe is great, its really easy to program for and the rates are on par with Paypal. Bluepay looks interesting. Their fee looks to be 1% lower or so (In Canada at least). And their rolling deposit is within 24 hours. This is one thing I'm not fond of with Stripe, as it takes 7 days to deposit to my account. At least with Paypal I can access the funds thru other companies who accept Paypal, immediately after receiving payment. The tradeoff, however, is they can lock your account right out for stupid reasons - I'm sure you've all read the horror stories. I'm going to really look into Bluepay. I don't think Blesta has a module for it yet, do they? I would say realistically, it's 24-48 hours before the funds are in your account but it's still much faster than 7 days! There is a module already for Bluepay within Blesta. When I setup with them, I called back a few weeks later and complained that the fees were too high and got them to lower my monthly minimum. You'll probably want to do the same and bargain for every deal you can get! Quote Link to comment Share on other sites More sharing options...
LicenseChimp Posted August 27, 2013 Report Share Posted August 27, 2013 Of course your fees will be reduced (down to 1.9% or something) if you are processing a large number in monthly transactions. Though PayPal fees seem on par with everyone else (It is 2CheckOut for non-us merchants that charge crazy fees) - 5.5% + 0.45c! Quote Link to comment Share on other sites More sharing options...
Paul Posted August 27, 2013 Report Share Posted August 27, 2013 At some point you have to look at getting a merchant account and using a merchant gateway. If you have enough volume, it makes sense. Of course some people will prefer to pay with PayPal or 2Checkout or whatever, but anything you charge through your merchant account is likely to be at a better rate. We are planning to partner up with some awesome merchant providers shortly, which will hopefully mean really good rates on merchant accounts. Michael 1 Quote Link to comment Share on other sites More sharing options...
Michael Posted August 27, 2013 Report Share Posted August 27, 2013 At some point you have to look at getting a merchant account and using a merchant gateway. If you have enough volume, it makes sense. Of course some people will prefer to pay with PayPal or 2Checkout or whatever, but anything you charge through your merchant account is likely to be at a better rate. We are planning to partner up with some awesome merchant providers shortly, which will hopefully mean really good rates on merchant accounts. great news but please don't partner with 2Checkout haha they have a bad reputation at the moment voiding most webhosts for stupid reasons: http://www.webhostingtalk.com/showthread.php?t=1254029 Quote Link to comment Share on other sites More sharing options...
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