TribeMagnet
Established Member
- Impact
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Clever businesses manage expenses, or at the very least are aware of changes on the horizon. If PayPal is a component of your buy or sell model: heads up!
Effective June 17, 2022 changes are afoot. There will be an increase in fees and, in some cases, a reduction in service.
They have too many categories of fees go through it all here but complete details have been published including links to charts depending on if you have a personal or business account and which countries are involved in the transaction. The last changes were August, 2021.
Aside from an increase in routine processing fees there is another thing that could impact your wallet: PayPal Online Card Payment Services "Previously the separate PayPal Website Payments Pro and Virtual Terminal agreement and the Advanced Credit and Debit Card Payments and Virtual Terminal agreement" is ending Risk Controls and Fraud Management Filters. Yikes! I don't know about you, but risk/fraud management seems like a handy thing when selling valuable assets to strangers on the Internet.
With value-added options like Escrow.com, any number of merchant service options like Stripe for processing credit cards, or even traditional bank accounts, many payment alternative exist. What do you look for in a payment partner? Do you factor processing fees into your prices or agreement structure? Will PayPal changes matter to you?
Effective June 17, 2022 changes are afoot. There will be an increase in fees and, in some cases, a reduction in service.
They have too many categories of fees go through it all here but complete details have been published including links to charts depending on if you have a personal or business account and which countries are involved in the transaction. The last changes were August, 2021.
Aside from an increase in routine processing fees there is another thing that could impact your wallet: PayPal Online Card Payment Services "Previously the separate PayPal Website Payments Pro and Virtual Terminal agreement and the Advanced Credit and Debit Card Payments and Virtual Terminal agreement" is ending Risk Controls and Fraud Management Filters. Yikes! I don't know about you, but risk/fraud management seems like a handy thing when selling valuable assets to strangers on the Internet.
With value-added options like Escrow.com, any number of merchant service options like Stripe for processing credit cards, or even traditional bank accounts, many payment alternative exist. What do you look for in a payment partner? Do you factor processing fees into your prices or agreement structure? Will PayPal changes matter to you?
