Subject:
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Re: Upcoming factoring changes due to PayPal fee structure.
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Newsgroups:
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lugnet.market.services
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Date:
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Sun, 8 Oct 2000 20:03:00 GMT
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Viewed:
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2563 times
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Larry Pieniazek wrote:
>
> I think I am going to have to institute some factoring changes beyond the
> rebalancing I alluded to earlier.
> Instituting that fee is fraught with peril as it may run afoul of the "cannot
> surcharge for CC transactions" rule that both Visa and MC have, it has to be
> carefully structured so that it is not in and of itself a credit card fee.
> Probably an "administrative fee" or else a change in all other fees with a
> discount for bank orginiated PayPal or something. Either that or raise ALL
> fees so that I don't care about the haircut.
Since you already know the amount Paypal is going to eat I suggest you
simply add that amount to the factoring fees you are currently charging.
However, since they can be quite large that might make people use paper
(cheques/MO's) more, so you might want to raise those prices too to prevent
that from happening. But I'll leave that up to you ;-)
> Eating a 2% (1.9, or 25 cents, technically) haircut is unacceptable, there is
> no margin in factoring as it is, I do it as a community service, for the most
> part, and I am not going to lose money on transactions, I ain't THAT
> charitable. Plus Josette would shut me down if she got wind of it, she wonders
> quite loudly why I am doing it at all if there's no money in it and it eats up
> significant chunks of my limited time at home.
Just charge it, either to the buyer or seller (or both), I think you should
rethink the fees so you play even or make a bit overall, you sure earned it
IMHO. Factoring is, and I think will remain to be, an excellent service for
a lot of folks that for some reason cannot or wil not use other systems as
BidPay, Paypal, X.Com etc etc. I personally don't mind the fees, specially
since I know that without factoring my costs would be triple or more (my
bank charges me $8 for sending or caching a cheque/MO and about $6 for
wiring money, exchange rates at the moment are terrible too) I was kinda
excited about Paypal coming to the Netherlands, but after all the new rules
it probably won't do me much good..
--
Jan-Albert "Anvil" van Ree | http://www.nl.3dgamers.com
3D Sims Archive maintainer | http://www.3dgamers.com
Thrustmaster Resource Center | http://www.3dgamers.com/tmresourcecenter/
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