5 ms·
Patreon adding a 2.9% and $.35 fee to every patron transaction
- dtech 9y agoTitle is incorrect, the $0.35 is for every pledge, not for every (monthly) transaction. I really dislike this move. I like to support creators with small monthly contributions, like $1-2/month. Because I pledge to a lot of creators the overhead remains small for the people I support. With this new model Patreon is raising its prices for me with ~30%, or another way of looking at it Patreon is decreasing the payout to creators from ~90% to ~65% for small pledges.
- miranda_rights 9y agoI also really dislike the move. What's a good alternative though? If I use something like Paypal to pay the creators directly, I would think Paypal would take a similar cut.
- djohnston 9y agoblockchain
- philipwhiuk 9y agoBlockchains have transaction fees. https://pbs.twimg.com/media/DH6QwQrWAAMGl8y.jpg https://pbs.twimg.com/media/DH6QwQrWAAMGl8y.jpg
- deleted 9y ago[deleted]
- chesimov 9y agoCreators: please provide an address for a cryptocurrency of your choice. I dislike this move by Patreon.
- kharms 9y ago>Title is incorrect, the $0.35 is for every pledge, not for every (monthly) transaction. They are switching away from the monthly batch billing to a transaction-per-pledge model, so I'm not sure why you don't like the title.
- elasticsoul 9y agoIt kinda seems like they need that 35 cents more than the artists https://www.crunchbase.com/organization/patreon https://www.crunchbase.com/organization/patreon
- quadrangle 9y agoThat may be true, but what they REALLY want is the user base, and their primary model is a freemium paywall model which requires charge-up-front, and they are prioritizing that over prioritizing actual sustaining patronage.
- Meph504 9y agobasically that fee, is directly inline with credit card process fees, its even structured the same. So it seems to me, that they are pushing all the transaction cost of credit card processing on the patrons, and taking that 5% as their chunk of the pie. Which frankly for the service they are providing is ridiculous, I dumped my account, and will work to find another format to support those I choose, without this 5% fee for nothing.
- kharms 9y ago>basically that fee, is directly inline with credit card process fees, its even structured the same. (1) At Patreon's scale you pay <2% per transaction, so there is at least 1% extra overhead. (2) That fee is present even with debit card transactions. I agree with you regarding finding another means to support creators.