Subject:
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Re: PayPal Changes
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Newsgroups:
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lugnet.market.services
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Date:
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Sat, 7 Oct 2000 02:18:05 GMT
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Viewed:
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1210 times
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Andreas Stabno wrote:
>
> Has anyone else noticed that PayPal is really starting to push its Premier and
> Business Accounts?
>
> Here are some of the upcoming policy changes:
>
> 10/09/2000 No more referral bonuses to personal accounts
> 10/09/2000 New account holders only get $5 signup bonus with $50 bank transfer
> 10/09/2000 Reduced initial spending limit for new accounts
> 10/16/2000 $500 credit card receiving limit every 6 months on Personal Accounts
>
> And what we've all been waiting for:
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> 10/31/2000 International support to 26 countries - free - Yeah!
>
> I suppose PayPal is saying that anyone who takes in more than $500 every 6
> months should be considered a business. Ouch.
Considering that credit card transactions cost money this is reasonable.
Ask how many stores don't pay fees every time you use a credit card
there (this is one reason many merchants have a minimum charge for
credit card purchases - though I think the credit card fees have dropped
over the last 10-20 years, so far fewer merchants have a minimum
purchase requirement). Note that bank drafts are still free for personal
accounts to receive, and there is no limit on them.
> Have any of you tried any of the competing services? What are your
> impressions?
I suspect that there won't be many competing services which have very
much market penetration which won't end up with similar policies. Moving
money is not free. The companies which offer these services have to make
money somewhere. I think it's great that they are offering a way for non
business users to handle transactions using credit cards. Call up any
credit card company and find out what it would take for you to be able
to take credit card payments. I suspect you will find it not worth your
while unless you are doing a high volume. If you're doing a high volume,
you're a business.
The 1.9% rate is pretty reasonable (judging from the surcharge vendors
at computer shows charge for use of a credit card, one would suspect
that their rates are 3 [5% used to be common - it seems like their rates
are either dropping, or they're getting cracked down on for having a
surcharge higher than the rate they pay - of course they aren't supposed
to have a surcharge, but it isn't necessarily unreasonable to have a
surcharge, why should the business eat the cost?]).
Frank
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Message has 1 Reply:
 | | Re: PayPal Changes
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| (...) I highly suspect that most surcharges hover around 2% - at least, that's what I'm familiar with in the IT service industry. Not sure if retail gets a different rate. James (24 years ago, 7-Oct-00, to lugnet.market.services)
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Message is in Reply To:
| | PayPal Changes
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| Has anyone else noticed that PayPal is really starting to push its Premier and Business Accounts? Here are some of the upcoming policy changes: 10/09/2000 No more referral bonuses to personal accounts 10/09/2000 New account holders only get $5 (...) (24 years ago, 6-Oct-00, to lugnet.market.services)
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