PayPal Greed Grab

[whatmodernwas]

PayPal's latest greed grab:

They're raising the international payment fee from 3.9% to 4.4%. They're also increasing the international micropayments fee by the same percentage.

[pantlandia]

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@def.a.posting.id wrote:

interesting thread...

my very uneducated thoughts on this are the words increase.

don't care if its 5 cents or 50 cents...its an increase. and someone is getting 

very rich of the backs of sellers because if you do the math ( I am somewhat limited in this arena)  50cents times lets say 1 million = alot of money.

lets keep it simple.🤑

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I think that most reasonable sellers expect that fees will be raised eventually. PayPal hasn't raised fees in a very long time. No one is 'getting rich on the backs of sellers'. They are raising fees to cover the costs of doing business, just like anyone else who wants to make a profit. And it's only for international. Bottom line, anyone with any type of business sense knows that sometimes it happens.

[ted_200]

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@luckythewinner wrote:

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@whatmodernwas wrote:
That is a 1% higher cost for US sellers for international transactions."

 So it's a 1% increase, not ½%. Feel the squeeze.

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(4.4 - 3.9) / 3.9 = 12.82%.

An increase of 0.5% is actually a 12.82% increase in the fee itself.

Lucky

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Plus another 0.5% on the currency conversion fee.  If you only accept payment in USD, and the buyer has an account in foreign currency, the buyer gets hit for that one. 

Following the logic of the above math, PayPal just increased their take on any such transaction by 25.6%.  Nice work, if you can get it...

[d-k_treasures]

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@ted_200 wrote:

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@luckythewinner wrote:

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@whatmodernwas wrote:
That is a 1% higher cost for US sellers for international transactions."

 So it's a 1% increase, not ½%. Feel the squeeze.

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(4.4 - 3.9) / 3.9 = 12.82%.

An increase of 0.5% is actually a 12.82% increase in the fee itself.

Lucky

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Plus another 0.5% on the currency conversion fee.  If you only accept payment in USD, and the buyer has an account in foreign currency, the buyer gets hit for that one. 

Following the logic of the above math, PayPal just increased their take on any such transaction by 25.6%.  Nice work, if you can get it...

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Or more, depending on if PP is locking in foreign currency when it's low.

[takikawa4]

How dare a for-profit company actually make money! The shame! The greed!

[moto-science]

Stripe only charges 2.9%+.30 for International......so we will drive our web business there.
On ebay we must raise prices 1.6% to cover the mandatory use of Paypal.
We already absorbed the USPS rate increases.....

[kilovara]

Now they also steal from you if there is need for returning the payment. They also steal much more in percentage when amounts are small.

[dhbookds]

dead thread alan@ebay