hcross
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posted on September 8, 2000 04:35:53 AM
NEW FEATURES AND FEE STRUCTURE
X.com's PayPal is the cheapest way to accept payments online. Our
Premier and Business Accounts are only HALF the price of most credit
card merchant accounts. And we are continuing to innovate new
features to further reduce the cost of online payments.
Last month, we reduced the fee for receiving large dollar amounts if
the sender pays you with funds from a bank account or their PayPal
account balance. When receiving these payments -- no matter how
much money is sent -- the 1.9% fee is capped at a maximum of $9.50,
about half the price of a bank account wire.
And within the next month, we plan to introduce:
- INTERNATIONAL PAYMENTS -- a way to receive payments from anyone
in the world. International payments to Premier and Business
Accounts will be treated the same as domestic transactions --
that means no extra fees for you.
- ELECTRONIC CHECKS -- a way to designate that you only accept
payment from a sender's bank account or PayPal account. (This
product will be priced significantly below prevailing credit
card rates; additional information will be provided soon.)
Because our product offering has become more complicated, effective
October 1, 2000, we will be updating our fee structure to reflect
differences in both the dollar size of the payment as well as the
source used by the sender to fund the payment. It is necessary to
differentiate based on source of funds because credit card payments
are more expensive for us to process than bank account payments. In
either case, you can rest assured that X.com's PayPal is the
cheapest way to receive payment online.
Here is the fee structure that will become effective on October 1:
UNDER $10: $10 TO $500: OVER $500:
---------------------------------------------------------------------
Credit Card payments $0.25 1.9% + $0.25 1.9% + $0.25
---------------------------------------------------------------------
Bank Account payments 1.9% 1.9% $9.50
---------------------------------------------------------------------
PayPal Balance payments 1.9% 1.9% $9.50
---------------------------------------------------------------------
For further explanation of our new fee structure, or to view this
table online, please visit our website at:
http://www.paypal.x.com/cgi-bin/webscr?cmd=p/gen/fees-outside
How does this stack up against our competition? Under the new fee
structure, a $50 credit card payment would cost you only $1.20 with
X.com's PayPal. Compare that to $2.34 for Billpoint (TM), and
$5.00 for Bidpay (TM). Our competitors cost twice as much! (Note:
Billpoint charges most users 3.9% + $0.39 for payments over $10, and
Bidpay charges $5 for all transactions under $100.)
But X.com Accounts aren't just low cost -- they're also a good way
to put more money in your pocket. Many new Premier and Business
Accounts report INCREASED SALES of up to 50% thanks to our service.
They tell us that buyers like the speed, reliability, and security.
And don't forget that you can also earn $5 bonuses for referring new
users -- something no other payment service delivers!
* * * * * * * * * * * * * * * * * * *
NEW! VERIFICATION LOGOS
X.com has created new logos for Verified users to place in their
online auctions and websites. When buyers click on the logo, X.com
will open a page that certifies the seller's Verification status.
This is an easy way for Verified users to show that buying from them
is safe and that X.com stands behind them with our 100% fraud
protection guarantee.
Our new logo -- which also include the MasterCard (TM) and VISA (TM)
symbols -- has been approved by eBay (TM) for use on their site.
Still not nearly as bad as Billpoint. I see that debit cards were not mentioned even though they have been "coming soon" for months now. Heather
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barbarake
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posted on September 8, 2000 05:25:07 AM
I wonder if this is for 'personal' or 'business' accounts (or both)?
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hcross
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posted on September 8, 2000 05:28:52 AM
It should be for just the Business and Premier accounts, for now anyway. The only reason I have this is for the debit cards that were going to be here last month. I am getting highly ticked off waiting for this. I am going to switch back to personal until they do get here, am tired of paying them and getting nothing. Heather
edited for some Godawful spelling mistakes and grammar.
You actually understood what I meant pickersangel?
[ edited by hcross on Sep 8, 2000 05:53 AM ]
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pickersangel
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posted on September 8, 2000 05:49:20 AM
Yeah, what Heather said.... . For those of us who sell for mostly under $10, the new fees will have a definite impact on our profits. I'm glad to see the Electronic Check option being added (I'd like to think I suggested that....). I suppose the extra fees might be worth it, if those debit cards ever actually materialize.
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bemused
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posted on September 8, 2000 06:37:59 AM
hcross
I know what you mean about being ticked, I only became a Premier seller in hopes of having debit card access sooner rather than later. I'm a little disappointed that new fees took priority over rolling that out.
BTW, I got an email from ecount yesterday announcing that they've introduced their debit card feature:
http://www.ecount.com/ecountcard.asp
I signed up with them a while ago but haven't included it in my auction descriptions as of yet, might be kind of difficult to get people to use it without a bit of a sell since it's not as well known as PayPal.
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hcross
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posted on September 8, 2000 07:06:18 AM
bemused: They look a little cheesy to me, but I did go ahead and sign up. I also saw something about using Mastercard only? Would not work for me, I only have a Visa. I ran a search on ebay and there are about 1000 auctions that use this as a payment service. You know, at one time I was signed up with Payplace, Payme, and E-Money Mail, not a single person ever used them. I am going to try it and see how it works out. By the way, I am now into my new account and they accept, Visa, Mastercard, and Discover. I am thinking that I may get a few people with the Discover option. Heather
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dave_michmerhuizen
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posted on September 8, 2000 10:11:49 AM
I remember when I signed up in January, trying it out in advance of the crowd. "Always Free" they said. Well. We'll see, won't we.
ebay: [email protected]
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bemused
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posted on September 8, 2000 10:41:53 AM
hcross
I guess I understand about the look of the site, but I see from their "About Us" and "Press" pages that they power services for Webcertificate.com, MSN, NBC Internet, AllAdvantage, etc. so I take heart that they are probably fairly stable as e-commerce companies go.
Now if I could just get buyers to use it...
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paypaldamon
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posted on September 8, 2000 12:53:00 PM
Hi,
Debit cards are expected very shortly, as is international.Shopping carts will also be available in the near future and this should also help increase sales for those of you with web sites.
To those of you that may not be aware, we do pay the credit card transaction costs.Instead of marking up the cost (as some other vendors do) we are basically passing that transaction cost on in order to keep the service free for personal accounts (your buyers)
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kerryann
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posted on September 8, 2000 02:55:08 PM
Damon, there is a question pending:
I wonder if this is for 'personal' or 'business' accounts (or both)?
Thanks!
Not Kerryann on eBay
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paypaldamon
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posted on September 8, 2000 02:56:12 PM
Hi Kerryann,
The fees apply to business/premier accounts.
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Peachy77
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posted on September 8, 2000 03:00:43 PM
paypaldamon HEY THERE, Good lookin'! Can you tell me why I cannot get into Paypal? I get stuck on the log-in screen... been trying for a while now....
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paypaldamon
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posted on September 8, 2000 03:02:49 PM
Hi peachy77,
How did you find out what I look like?
We did have some web hosting issues earlier today, but they are clear at this point. Try clearing your cache/cookies and see if you can get in after that.
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Peachy77
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posted on September 8, 2000 03:04:43 PM
paypalDamon I can just tell these things!  LOL
Thanks, I'll give that a try and see if it helps.... I appreciate your speedy response... I love you guys!
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paypaldamon
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posted on September 8, 2000 03:07:45 PM
Hi peachy77,
Thanks. Let me know the outcome at [email protected] if issues persist.
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aarong
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posted on September 8, 2000 04:18:35 PM
I only recieve PayPal payments. I never pay with PayPal. Will I incur any fees personally? Thanks in advance
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Peachy77
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posted on September 8, 2000 04:21:47 PM
paypalDamon yup, it worked.... I should have thought of that....
THANKS!
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grobe
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posted on September 11, 2000 06:16:45 PM
Paypal only accepts Visa and MasterCard doesn't it? I am only interested in a service which accepts all of Visa, MasterCard, Discover and American Express--all of these both domestically and internationally.
Suggestions?
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paypaldamon
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posted on September 11, 2000 06:18:49 PM
Hi,
I do know that Discover is expected shortly and American Express is being talked to.
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mtnmama
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posted on September 11, 2000 08:07:00 PM
Damon,
Why not tell these good people that they can have 2 accounts, one personal and one business? I have two now. The personal one is for my itty bitty auctions and the business one for my website.
The only problem I had in registering another account is that I couldn't use the same Visa card I used when I registered the first one, because the screen said "This account is already assigned to another user"..yeah! ME!
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paypaldamon
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posted on September 11, 2000 09:25:27 PM
Hi mtnmama,
The credit card can't be added to more than one account for security reasons. Allowing multiple accounts to one credit card opens the doors for fraud.
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jupiterock
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posted on September 11, 2000 09:39:14 PM
I have no problem with the new fee structure.
At this point, I haven't heard of them forcing one person to upgrade from a FREE personal to a business account.
If you want a free service, stick with the personal account. If you want the benefits that go along with the premium/business accounts, you should expect to pay for them. It is still cheaper and more useful than a merchant account.
In fact, I would be willing to pay even more if they would get the damn shopping cart implemented. This will be a phenomenal move.
Now that I see where Paypal is going, it's all beginning to make sense to me, and I think it will beneficial to everyone involved -- from Paypal to auction sellers to buyers all over the web.
But PLEASE get the shopping cart going ASAP.
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paypaldamon
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posted on September 11, 2000 09:52:26 PM
Hi jupiterrock,
I am proud to say that we have a whole slew of product offerings coming out soon, including the shopping cart
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hcross
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posted on September 11, 2000 10:06:32 PM
Damon, You are a nice guy and all, but do you have any idea how bad I want to strangle you when you say "coming soon"? I do not mind the fees you are charging me a bit, I would not even complain if they were a little higher, but why can't Paypal work on the things that have been "coming soon" for months now? Heather
edited to add: I want my damn debit card that was supposed to be here in August.
[ edited by hcross on Sep 11, 2000 10:07 PM ]
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paypaldamon
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posted on September 11, 2000 10:22:42 PM
Hi hcross,
I don't always like saying that either, but I can assure you there are a whole host of items on the immediate horizon that should help buyers and sellers conduct more transactions safely and efficiently. Engineering and product are working together to get these items out and to make sure that they are QA'd before release.
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midnightdesigns
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posted on September 12, 2000 03:24:44 PM
PAYPALDAMON
Okay then..answer THIS Q.. coming *HOW* soon? a week? two weeks? a month..6 months? whats the proposed time frame? and does that apply to all of the new changes, or just to the international or the shopping cart?..? That international payment acceptance is going to really help ALOT. I take international bids right now, and most people are sending cash in the mail, which is fairly risky. Thanks!
J.
[email protected]
http://cgi6.ebay.com/aw-cgi/eBayISAPI.dll?ViewListedItems&userid=midnightdesigns
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paypaldamon
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posted on September 12, 2000 03:28:55 PM
Hi midnightdesigns,
The international portion is expected within the month and the shopping cart feature should be fairly close to that. I don't want to narrow it down to a specific date only because the items have to be QA'd first.
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dave_michmerhuizen
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posted on September 12, 2000 03:32:58 PM
ppd - will personal users be able to receive international payments? -- or will only business users be able to do so.
ebay: [email protected]
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paypaldamon
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posted on September 12, 2000 03:36:51 PM
Hi dave_michmerhuizen,
International payments will be available for senders and recipients (or buyer/seller).
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abacaxi
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posted on September 12, 2000 03:55:52 PM
Damon -
"make sure that they are QA'd before release."
QA? What a novel idea to TEST your software before releasing it. Have you used a non-PayPal user group to make sure they can understand it?
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