Announcement PayPal giving sellers the middle finger

[Nik]

If you SELL anything using Paypal be aware of this change that just happened quietly.

Essentially paypal is now keeping ALL the fees after a purchase is refunded (previously they only kept the 30 cent fixed fee, now it's 2.9% + 30 cents on refunds).

Also, be sure to read this change if you regularly send money abroad via Paypal:

"We're removing the flat rate pricing for sending money to friends and family members who have PayPal accounts in a country other than the United States and introducing a new variable fee of 5% based on the amount you send with a minimum of $0.99 and a maximum of $4.99 per transaction. We're also removing any variation depending on the recipient's country.

"We are changing the currency conversion spread to 3.25% over a base exchange rate in situations where you are a sender of money in a PayPal transaction."

More here:

PayPal's new refund policy has sellers up in arms

PayPal has been the go-to payment platform for many small vendors since it was popularized on eBay and other online marketplaces. Currently, when someone sells goods or services, they are charged a flat transaction fee, plus a percentage-based commission on…

www.techspot.com

 

[frankmp]

Good to know! Thx Nik.

 

[williame3590]

I gave PP the middle finger a couple of years ago...right after I gave one to Feebay as well.



Bill

 

[SN-III]

Nik, let us (me) know what works best for donations ... or would PayPal still be ok for this with you ??? For those that donate it might be good knowing what gets to CCF once all these fees are grabbed. Thank you

 

[Nik]

Nik, let us (me) know what works best for donations ... or would PayPal still ok for this with you ??? For those that donate it might be good knowing what gets to CCF once all these fees are grabbed. Thank you

I'd love to ditch paypal but understandably a number of people still use it so I'll be supporting it for a while. Bear in mind this news doesn't impact ccf in any way donation wise. It's more of a cautionary tale for those of you who may sell goods and end up doing refunds. It'll burn you more if you do.

Thanks for thinking of CCF Spence.

Fee wise it's pretty much the same for PayPal and stripe for credit card processing but given the choice use stripe, you get some credit card rewards at least and get to give PayPal the middle finger back with your wallet.

 

[Nik]

So after walking this back in April due to negative publicity PayPal is back at it and rolling out the second middle finger on Oct 11. This will ultimately be passed onto customers either through refund/restocking fees or through higher prices to recoup it.

 

[ddgermann]

So after walking this back in April due to negative publicity PayPal is back at it and rolling out the second middle finger on Oct 11. This will ultimately be passed onto customers either through refund/restocking fees or through higher prices to recoup it.

I use PayPal a lot and yes they have been pissing me off with some of the fees and exchange rates. I’m looking for a better alternative but it seems most are in the same ballpark with a few that really soak you even more....

 

[Nik]

I use PayPal a lot and yes they have been pissing me off with some of the fees and exchange rates. I’m looking for a better alternative but it seems most are in the same ballpark with a few that really soak you even more....

Are you looking for a merchant account or just a payment provider other than your credit card?

 

[ddgermann]

Are you looking for a merchant account or just a payment provider other than your credit card?

I have a merchant account NIK and it’s convenience is definitely ok. However I mainly use it for purchase as it makes online buying much easier normally. Plus the choice of credit cards or bank accounts for payment is a handy feature.
The reality is ... nothing we do is free. At least PayPal is not littered with ads and popups, so there’s a positive. Kind of like CCF.