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> Facebook also takes a good chunk. I went and check. Doesn’t seems so. 0% for charitable organizations (which means they loose money as they need to cover pay
by justapassenger 4y ago
> Facebook also takes a good chunk.
I went and check. Doesn’t seems so. 0% for charitable organizations (which means they loose money as they need to cover payment processing fees) and less than 2% in most cases for personal ones (which seems to be in line with general payment fees).
https://www.facebook.com/help/901370616673951 https://www.facebook.com/help/901370616673951
Are there any other fees they don’t tell us about there?
- cube00 4y agoI'm sure Facebook is large enough to strong arm an excellent deal from their processors for those transactions.
- rapind 4y agoNot sure that VISA or MasterCard are going to roll over on their fees for Facebook.
- ceejayoz 4y agoBoth have lower interchange rates specific to charities; it's highly likely Facebook can flag the charitable donation transactions as such.
- bombcar 4y agoI doubt they bother, they probably just pay whatever low fees they negotiate and then count the fees they have to pay for the charitable ones out of their slush fund and count it as an expense. It's not like they aren't getting income in other areas. The marketplaces that are entirely charitable stuff have to charge or source (they often have a checkbox you can use to "donate" to cover the fees, so you give $10.30 instead of $10 so the charity gets $10).