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14steve14

PayPal fee changes

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Totally off oscommerce topic but ecommerce related.

Who has noticed that Paypal has changed their fee structure. I noticed this earlier today after browsing another forum. In the UK they used to offer a small percentage discount if sales were above certain levels, plus a 20p transaction cost. Well no more discounts, level is set at 2.9% which is less than the usual 3.2% but I was already getting 2.9%, but the transaction fee charge has increased from 20p to 30p per transaction.

Be honest - who noticed.


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Yes, implemented in August, they did send an email about changes to T's&C's.
They replaced merchant rate with tiered rate so there are still discounts for volume per month.
Fee per transaction:
Tier 1: £0.00 - £20,000.00 2.9% + Fixed Fee (£0.30*)
Tier 2: £20,000.01 - £75,000.00 1.9% + Fixed Fee (£0.30*)
Tier 3: £75,000.01 - £200,000.00 1.4% + Fixed Fee (£0.30*)
Tier 4: £200,000.01 or more 1.3% + Fixed Fee (£0.25*)

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Looks like I really should read those long and boring emails that they send. I did get the new ebay seller news and they are supposed to be offering better protection to sellers.


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10 minutes ago, 14steve14 said:

Looks like I really should read those long and boring emails that they send. I did get the new ebay seller news and they are supposed to be offering better protection to sellers.

Yes I saw that also. but it looks like a sercive that you need to pay for.....

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I didn't notice until last week, when my accounts didn't balance!

Also, I didn't notice that PayPal now own iZettle, which I use in store, instead of PayPal Here.

PayPay Here is still 3.4% +20p

iZettle 1.75% + 0p

Apparently PayPal will keep the two separate.  We will wait and see.


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Dont PapPal also own Braintree


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I noticed! And what is even more annoying is the fee levels are based on the previous month.  I always find December is rubbish, and January fantastic.  So because my previous month (December) has been shocking, I pay a higher rate for January (which is my best month), so pay loads of fees because I have earned more.  Diabolical!


Running a botched up version of  osCommerce Online Merchant v2.3.4 bootstrap with the dresscode theme installed, numerous add-ons, terrible coding, terrible website, but will have to make do until I have made up for my losses and can risk shutting down for a couple of weeks while I start all over again. - I did not install my program but am endeavouring to fix it with your help.

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6 minutes ago, zefeena said:

I noticed! And what is even more annoying is the fee levels are based on the previous month.  I always find December is rubbish, and January fantastic.  So because my previous month (December) has been shocking, I pay a higher rate for January (which is my best month), so pay loads of fees because I have earned more.  Diabolical!

We got hit when we stated accepting Stripe as a payment method as they are cheaper as well. I wish everyone would pay using Stripe but some do love paypal.


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I might have to look at stripe.  I added Worldpay, but I still find more people press the paypal button! Worldpay charge me a fee for all this secure pay thing, which is a complete con, as they host the payment pages.  I checked into it, and there is no reason for me to have to pay it or have the 'secure' pay bit, but they won't budge, and when I said Paypal doesn't make me pay it - they just said they can't speak for other providers!


Running a botched up version of  osCommerce Online Merchant v2.3.4 bootstrap with the dresscode theme installed, numerous add-ons, terrible coding, terrible website, but will have to make do until I have made up for my losses and can risk shutting down for a couple of weeks while I start all over again. - I did not install my program but am endeavouring to fix it with your help.

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19 minutes ago, zefeena said:

Worldpay charge me a fee for all this secure pay thing

I used to use Worldpay but changed to Stripe for that very reason. I was paying £24 a month plus processing fees. Stripe is 1.75% plus 20p per transaction. There are downsides. Stripe make you wait 7 days for the money and if you have to refund the customer they do not refund the fee to you. Upside is with the new SCA add on that has just been released, PCI compliance is very straightforward, and more importantly, unlike Worldpay, it is free of charge.


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And here is another insult from PayPal in Australia that arrived in my email today
In line with industry practice, and according to our updated policy, we will not charge a fee to process refunds, but the fees from the original transaction will not be returned.

So for me this is a huge issue, As at times a customer can purchase a high value item ie $800 but on going to drop ship it only to be informed the distributor is out of stock. Sometimes customer are happy to wait till next container but if they choose not to I will refund them moving forward that's $30 ish in fee's I don't get back

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If only we could find some way to break the general public's obsession with PayPal. They think it is more secure, it probably isn't, they do not have to enter their card details for every purchase, other payment options provide this also. Stripe can store their card details securely, it does not refund the fees of a refund BUT in the UK it is only 1.75% plus 20p, less for us to pay and less to lose if there is a refund.

I turn off the PayPal module on my store sometimes and I have had regular customers move over to Stripe as it was the only option, but when I have had it on again, back they go to PayPal.


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Thankfully we have nearly got the updated Stripe add on de-bugged, which is SCA compliant.

I did not realise Stripe has such a large share of the market compared to all the others. Does the PayPal figure include ebay payments? It is also interesting to me that Amazon, as a seller, is so successful and they do not accept PayPal...


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Note that the graphs simply reflect the fact that most websites are amateur businesses using Paypal or Stripe.
Be aware that many customers also know this and can be wary of buying from those that only offer Paypal or Stripe payment.

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Mine is a small business. I offer "PayPal" at the bottom of my payment options list which has Bank Transfer, Cheque and Phone with Payment options, all under the top option which is "Credit and Debit Cards". There is no mention of it being Stripe as the payment method. I used to use Worldpay but that took the customer off to their website like PP Standard does. Stripe does not do this so I cannot see how a customer would not buy from me because I use Stripe.


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Both PayPal and Stripe are internationaly recognised safe payment methods and used by thousands of established profesional companys that have been in buisness for many many years.


 

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3 minutes ago, mhsuffolk said:

I used to use Worldpay but that took the customer off to their website like PP Standard does.

Many customers see that as more secure than on the seller's website even if you are SSL.

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14 hours ago, mhsuffolk said:

Does the PayPal figure include ebay payments?

The research was independent and takes account of all online payments from TOP COMPETITORS OF PayPal IN Alexa top 1M websites. So if amateur businesses are making it into the top 1 milion then they must be doing somethng right 😂.

You can use the market analysis tool online is available to all.

https://www.datanyze.com/market-share/payment-processing/Alexa top 1M/paypal-market-share

 


 

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Let's not forget the role of paypal in eBay too!


Full-time I am a C-suite executive of a large retail company in Australia.

I am enjoying learning about web-design.

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