3 ms·
Mmh, could you "show me your work"? Because I don't see how you end up with these numbers. 2.9% of $1 is $0.029 $1 + $0.029 + $0.35 ~= $1.38 95% of $1.38 is
by simias 9y ago
Mmh, could you "show me your work"? Because I don't see how you end up with these numbers.
2.9% of $1 is $0.029
$1 + $0.029 + $0.35 ~= $1.38
95% of $1.38 is $1.311
Clearly that doesn't make sense.
Or does it mean that Patreon gets 5% from the creator's share and then 2.9% + .35 cents on your side? So if I want to pledge $1 then I have to pay $1.38 and the creator really only receives $.95? If so that seems misleading. Also in this case it would mean that in that case Patreon ends up taking 31% of the actual money spent by the pledger.
- ceejayoz 9y agoThe pledge is $1. The pledgee receives 95% of the pledge, $0.95. The pledger is charged $1 PLUS the "processing fees", which are an ADDITIONAL 2.9% of the pledge (2.9 cents) and 35 cents fixed. > Also in this case it would mean that in that case Patreon ends up taking 31% of the actual money spent by the pledger. Yep, and batching charges means much of that 31% isn't actually going to real processing fees, but into Patreon's pocket. Their recent (September) taking of $60M in VC money may provide a motive for this approach.
- trowawee 9y agoI believe that Patreon's claim is that the bulk of that money is going to the payment processor, although that argument falls apart if they are batching your payments (which is what they currently do).
- jopsen 9y agoAnd if they stop batching they aren't they just generating money for payment processor? I for one don't want more than one email from patreon per month. Nor do I want more than one CC entry.