Is anyone else sick of paying huge fees to paypal? They just seem to keep going up and up, so much to the point where selling on ebay has become not profitable since they are double dipping (maybe even triple dipping) with fees for listing, selling, and receiving payment. Also I had an ebay seller recently go through massive hassles in order to get signed up, I even had to write to paypal letting them know that I had received the item before they would verify him. That is just crazy that a buyer would need to send something to paypal in order to verify a seller. Is there a better way to go or are we stuck with paypal?
Selling on eBay takes a MASSIVE cut of the profit. They are lowering the flat fee, but increasing the final percentage fee for items <1000$. Ridiculous in my opinion, they are making enough.
Coupled with the move to prevent sellers from leaving feedback - over time they are just tripping over and over again.
The only thing is that you would still incur transaction fees for processing credit cards. That's one thing that business can't really escape.
I like PayPal but I've just found a new similar payment processor that has no receiving fees. The only downside is that right now, you can't use a credit or debit card and you fund it with your bank account. If anyone wants an invite, let me know.
I am a small time user so it's still free for me to send and receive money. But for merchant accounts the fees are eating up the profits.
Paypal should atleast not charge fees for smaller transactions worth less than $5. Pulling out fees for small amounts in not good.
Agreeed nihangshah. I use PayPal everyday to receive and send funds, and definitely the fees are killing some profit. In fact, a few thousand dollars already..