4 ms·

If you're a Payments Pro merchant, you've been required to offer PayPal Express checkout prominently for some time now. I suspect this move is because the fees

If you're a Payments Pro merchant, you've been required to offer PayPal Express checkout prominently for some time now. I suspect this move is because the fees are going up enough to encourage businesses to leave but still leave PayPal for the customers who prefer it.. We are changing the currency conversion spread charged when we perform a currency conversion for you from charging an additional 2.5% over the exchange rate set by our bank to charging an additional 3.0% And their bank's exchange rate is not great to start with. Against the rate Google or XE shows, our PayPal conversions seem to work out at around 3% as it is. So now that'll be about 3.5%. Add the other 0.2% increase on cross border payments and the 2% merchant rate we already pay.. and it's nice work if you can get it! :-D

Eridrus 10y ago
Are you looking at Android Pay or other alternatives? It seems like the web payments API is going somewhere. It looks like there should be significantly fewer fees; Zooz at least claims to not have any cross-border or transaction fees. I'm guessing these lower fees are part of why Uber and Seamless were offering discounts when using Android Pay. [EDIT]: It's disappointing that Android Pay goes through the credit card system when making payments; I was pretty happy that PayPal bypassed the credit card duopoly.
- petercooper 10y ago
  We're looking at using Stripe more. (We already use it because PayPal won't support Amex in the UK.) But no, a lot of systems are not ideal because we are mostly doing mid 4 and low 5 figure B2B transactions (many use wire transfer but a lot of people in companies have credit cards they can use more easily).
abandonliberty 10y ago
Paypal tries very hard to encourage customers to pay them for conversion. Clearly an example of hostile UI. For the longest time it wouldn't save your currency conversion settings.
RachelF 10y ago
Most banks of CC companies will also be charging you similar rates, unfortunately. This is why it is a pity bitcoin didn't go mainstream.
- Bombthecat 10y ago
  Bitcoin will take off when global c2b gets more reliable and more used (aliexpress is the beginning)

Eridrus 10y ago

Are you looking at Android Pay or other alternatives? It seems like the web payments API is going somewhere. It looks like there should be significantly fewer fees; Zooz at least claims to not have any cross-border or transaction fees. I'm guessing these lower fees are part of why Uber and Seamless were offering discounts when using Android Pay. [EDIT]: It's disappointing that Android Pay goes through the credit card system when making payments; I was pretty happy that PayPal bypassed the credit card duopoly.

petercooper 10y ago
We're looking at using Stripe more. (We already use it because PayPal won't support Amex in the UK.) But no, a lot of systems are not ideal because we are mostly doing mid 4 and low 5 figure B2B transactions (many use wire transfer but a lot of people in companies have credit cards they can use more easily).

abandonliberty 10y ago

Paypal tries very hard to encourage customers to pay them for conversion. Clearly an example of hostile UI. For the longest time it wouldn't save your currency conversion settings.

RachelF 10y ago

Most banks of CC companies will also be charging you similar rates, unfortunately. This is why it is a pity bitcoin didn't go mainstream.

Bombthecat 10y ago
Bitcoin will take off when global c2b gets more reliable and more used (aliexpress is the beginning)