4 ms·
This is a neat idea. I have an unimportant question. PG's post says "They even eat the credit card processing fees", but Watsi's FAQ says, "As part of the cost
by suchow 14y ago
This is a neat idea.
I have an unimportant question. PG's post says "They even eat the credit card processing fees", but Watsi's FAQ says, "As part of the cost of the treatment, we have included PayPal credit card processing fees (2.9% + $0.30 per transaction). These PayPal fees are unavoidable, and no portion of the fees go to Watsi."
Who is right?
- chaseadam17 14y agoSorry! This is our (Watsi's) fault. Everything pg said is entirely true. When we first launched Watsi we had absolutely no operating budget and because of that we had to include credit card processing fees in the cost of treatment. We are now paying the credit card processing fees out of our own operating budget (see our Transparency Document for more info: https://docs.google.com/spreadsheet/pub?key=0Ah3wJ9CRQzyHdDZSaEF1X1JsRm1yZ251d0RQZ0VmRGc&output=html https://docs.google.com/spreadsheet/pub?key=0Ah3wJ9CRQzyHdDZ...). Thanks for catching this. We've updated our FAQ to reflect this change.
- bdcs 14y agoGood question. Also, PayPal fees are only unavoidable at PayPal. Would it be a conflict of interest, on pg's part, to include donations via bitcoins using Coinbase? If so, what if a competitor, such as BitPay, was used?
- chaseadam17 14y agoWe're switching over to Stripe and they've been kind enough to hook us up with a better deal than PayPal (we'll be paying cost which is something like 2.4% flat, inclusive of Amex and international transactions, which constitute more than 30% of our total donations).
- ianstormtaylor 14y agoWas just about to ask about Stripe helping out a charity and fellow YCer. Awesome to here that they are hooking you guys up. Even with Paypal I already went through 4 donations or so, but Stripe would make the process even more addicting.
- chaseadam17 14y agoThank you for donating! It's amazing for us to hear from people that have already supported so many patients on Watsi.
- ianstormtaylor 14y agoIf you guys remember my credit card between donations and give me an account that will notify once a month (or so) of new patients, it'll actually become a problem for my bank account.