PayPal is adjusting their rates – More money in your pocket!

PayPal is a great way to process credit cards and have money sent your way or to send money as well. PayPal truly pioneered online payments and now competes in the space with 100s of others now. PayPal has just announced that they are changing their rates and we are hoping that other payment processors (Stirpe.com) will follow suit.

PayPal says…

In that spirit, we are simplifying the prices we charge for PayPal transactions, but please note that these changes do not apply to you.  Effective October 1, 2015, we will remove the tiered merchant rates for US domestic and international Purchase Payments*.  The new rate will be the standard rate of 2.9% + $0.30 USD for domestic transactions and 3.9% + fixed fee** for international transactions.  Card-processing rates on PayPal Payments Pro and Virtual Terminal are not changing.  As noted above, this change does not apply to you.  Your rates are reflected in the table further below.

You can review the updates that will go into effect on October 1, 2015 by visiting this page.

 

PayPal Rates:
Domestic Purchase Payments transactions in U.S. Dollars

Prior month’s sales volume	Fee per transaction
$0 to $3,000	2.9% + $0.30
$3,000.01 to $10,000	2.5% + $0.30
$10,000.01 or greater	2.2% + $0.30

International Purchase Payments transactions

Prior month’s sales volume	Fee per transaction
$0 to $3,000	3.9% + fixed fee*
$3,000.01 to $10,000	3.5% + fixed fee*
$10,000.01 or greater	3.2% + fixed fee*

*Sections 8.2 (b) and 8.4 (c) of the PayPal User Agreement
**Section 8.4 (d) of the PayPal User Agreement

Rates for PayPal Payments Pro and Virtual Terminal are not changing.

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What do you think of the new rates?