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PayPal works just fine for me as a consumer. I see no need to add anything else into the mix.
Any big company (like PayPal) is monopoly otherwise it just could not be called "big"
Facebook, Google, Amazon - all is monopoly and all is big.
Wrong. Stripe reccomends you use client tokenisation. It does not require it - as the implementation of card payment is on the merchant, not on Stripe (unless using Stripe Checkout) - you can not guarantee that.
In addition, even in an idyllic world where everyone was using client tokenisation for card storage - how on god's green earth would a non-technical user know that? As far as they are concerned, they are passing their card information on to the site.
PayPal is the only major company with serious western recognition that provides a service in their market segment.
What do you expect the eBay dropped them so they are short of cash and required.
I hope everyone will follow eBay right decision drop the PayPal as payment gateway, we half the way through as PayPal is very expensive for any type of business.
Stripe checkout is great as all payments are stored on stripe servers/node and no customers payment details are passed except notification of payment.
Moved on to stripe , Payoneer and wise for most part as this is typical Paypal behaviour. Some of the new Fintech startups are so much better then Paypal.
The problem is, they do not allow this. Sure, a bunch of websites can do it and PayPal might not care but they will eventually single you out and at the very least ask you to stop.
I've spoken with them and these seem to be the only options:
Right now, our cheapest service on our site is $1.25 per month. With Alipay, I believe we receive $1.22 per month. With PayPal, after this update, we would receive, assuming my math is correct, $0.70 or 57% the amount we get with Alipay.
This wouldn't be such a PITA if their API ever functioned properly. We have times where it just fully breaks randomly, causing our entire cron to have issues and we've confirmed this with PayPal's engineers and it just keeps happening. How disputes are handled within their API is pretty insane as well, with like several different types instead of just calling it one thing and letting you hook into it easily. Then, on top of this, they give customers and our billing system random error codes that are both super specific and somehow still super vague. With Stripe we can tell the customer exactly what's wrong, with PayPal, it might fail because of their card and the customer ends up having no idea what happened. For some reason, double payments still happen with PayPal because they don't do anything to prevent it even if you check to prevent it in their API. Also contrary to some criticism we've received from some customers, we do not like the fact that PayPal pops up a screen that confuses people and doesn't really effectively explain the difference between linking an account and a payment that's one-time. I'm also not sure if they're doing this, but it's even worse if you use their other system where it sends the merchant recurring payments and then hides it from view from the customers, totally dishonest and causes problems on both ends. We stopped using this a while back but a customer had this on without noticing recently for three years and although I wanted to refund all of them for him, you can't even do that either. You'd think since they have a BALANCE system you should be able to refund a customer at least to their PayPal balance at any time. It's not enough for them to keep all the fees, they just won't allow it.
I think we're probably going to implement a few more payment methods, maybe bank transfers and Apple card through Stripe, and get rid of PayPal for at least new customers. Old customers, we might have to limit it to minimum deposits.
You can add an extra 2-3% if you're getting payments from overseas clients. The figures in the OP are most likely for domestic payments.
we need another cheaper paypal service
And 4% for currency conversion (or 3% for transfer to US bank account which previously was the workaround)
It's a big part of why we started offering payments via Square.
Month by month Paypal is 8-9% fees for us.
Don't forget at the end of the day it's the consumer that will end up paying. Either through reduced competition (when smaller operators can't operate) or through the prices being passed on.
Has anyone successfull used QR Code Transactions at Digital Point of sale?
Ouch, now that is brutal.
PayPal actually have a policy of not passing the transaction fee onto the client? I had no idea. We've been passing it on for years, and I don't think we'll stop anytime soon. Customers seem very happy to pay an extra 3% for the privilege.
The consumer always ends up paying eventually. So nothing new there. But it's their choice.
At the end of the day, providers make their offer, the consumer decides whether to accept that offer which includes the choice of payment processor.
PayPal has a position, that position is a minimum amount + %. Personally, I don't think it's that bad. Sure others are cheaper but again, all about choices for the seller.
Charging $1 per month? Sucks to be accepting PayPal.
Maybe PayPal micro payments are an option:
https://www.paypal.com/gf/smarthelp/article/how-can-i-update-my-payment-preferences-for-micropayments-faq1691
If you want to apply, you need to contact PayPal because there is no request form or something.
The company in which I buy my dogs the food does also add the extra fee for Paypal and it's a large company here.
What if the transaction cost is more than $12? Does it fall under their micropayment rate or they charge regular rate for this?
It it either/or, so you choose either for the regular rates or for the micropayment rates. You can't have both. You could use two PayPal accounts (as far as the PayPay policies allow this).
It's allowed. I've confirmed with AU merchant support in the past.
It's not allowed by policy. It's done by many.
Funny enough in Australia it's illegal not to offer at-least one fee free payment method. So you can't give Paypal a fee while being compliant with both Paypal's policy and the law since by law another method must be available without a fee.
It looks like I need to stop using paypal soon.
In our opinion, if a lot of users leave this payment system, PayPal will take measures to keep its users and attract new ones.
The way i see it, this only mostly an issue for providers that work on paperthin or almost nonexistent margins.
The real point here is make sustainable plans and leave room unforeseen costs.
Sure it would be nice if things where a few % cheaper..... but at the same time it shouldn't matter a lot for healthy businesses.
It will cost more.
PayPal micropayment rate is 5% (6% for crossborder transactions) + $0.05 USD per transaction.
Note: Micropayment pricing applies to all transactions regardless of the transaction amount. For example, with micropayments pricing, it would cost $0.25 USD to receive a $4USD payment and it would cost $1.05 USD to receive a $20 USD payment.
thanks for the explanation! I did tried to calculate the costs and it turned out to be more for micropayments.
They do seem to have a new page up recently that allows you to have a type of "hybrid" account as I bet a lot of people have been asking their account manager about micropayments recently.
So from what I understand it means it'll auto switch over to the lowest rate available.
Can you please give a link to this page?
I see more and more content platforms are using Stripe for the subscription. The problem is when you want to cancel, you need to go to every platform, you couldn't do it in bulk on Stripe.
It's easy to forget.
And some service providers just refuse to follow the refund statement written on the website. You can cancel the subscription, but the first payment is lost.
ditto
I think stripe also has a page where users can directly cancel their subscription.
Most easiest way to cancel any subscriptions via stripe client portal. Stripe used to have terrible support but they have changed.