Your Online Business and PayPal Fees

-



PayPal is undoubtedly one of the world’s largest online payment system with almost 227 million accounts currently in use. 

Even among online sellers, it is a popular option for accepting payments. But, like every other payment system, there are charges associated with the transaction that you need to consider into the cost and pricing of your business and transactions.

Gladly, with Shopify Payments, there are ways for the customers paying through PayPal that help them to check out without paying the heavy fees.

Account Fees

You don’t need to pay any setup fees to create a PayPal account. Create your account for free and link it to your credit card or bank account and you will be able to accept 25 currencies from 202 countries of the world. 

PayPal Express is supported by Shopify merchants and is a gateway to easily incorporate into your store.

Calculate Seller Fees

PayPal charges may vary for different regions of the world and depend upon whether you are purchasing or selling something. For purchasing products and services in the US there is no fees to use PayPal, but to sell products and services you will be charged not only a percentage from your transaction but also a fixed fee. 

You need to pay 2.9% of your transaction amount along with $0.30 USD of the flat fee. For example for a payment of $50 USD, you will be charged $1.75 USD ($1.45 + $0.30). Therefore, in the end, you will get $48.25 of that $50.

As for outside the US, while receiving payments you will be charged 4.4% per transaction along with the fixed fees based on your currency.

PayPal Express and Shopify Payments


If in your store, you are using Shopify Payments to accept credit card payment you will have to pay the credit card fees at every transaction according to your payment plan.

 Users get confused and uncertain about the payment stats and whether they will be double charged for using PayPal Express and Shopify Payments together as their payment gateway.

 Luckily, you will not be double charged for using them together but only pay the fees for that payment gateway that your customer choses at the checkout.

Comments

Post a Comment

Popular posts from this blog

What You Should Know When Considering Leasing Vs. Buying Your Office Space

-
Image
Leasing Vs. Buying One major cost for a business is that of the office space, especially for many small businesses that have limited financial capital. Whether you should go for leasing or buying an office space depends on various factors related to your business and resources. We have listed the major advantages and disadvantages of leasing and buying to help you make a decision conveniently. Leasing: Pros and Cons Leasing is a very common option to get an office space, especially for the small business owner who has limited resources and are unable to go for the down payment for purchasing their office space. One of the major advantages of leasing is that it does not involve upfront huge expenditure like a down payment. The capital saved like this could be spent on promoting your business whether through advertising and marketing or by getting more employees for your business. Another major benefit of leasing is that it does not restrict your relocatio
Read more

What You Need To Do To Set Your Retirement Accounts Free From Bankruptcy Tangos

-
Image
Many people are afraid of going the bankruptcy route because of the negativity attached to it.  They may lose so many things but it does not affect their retirement accounts. This, however, depends on the kind of plan they choose.  Becoming wealthy does not mean becoming debt-free, and unfortunately, many are unaware of this fact. Since it is becoming normal to declare bankruptcy, it is vital to know how it may influence the future.  Since nobody can retain an active job forever, it is good to understand the part bankruptcy could play in it.  There are different kinds of bankruptcies that can be explored. However, the focus here is on partial debt refund plans or debt forgiveness programs only. When people file for personal bankruptcy People file for it because they are unable to pay their debts as they fall due. They can either choose partial debt refund plans or debt forgiveness programs. These plans do not affect your personal bank accounts by law.  However,
Read more

How To Measure The Rewards Of Social Media

-
Image
Getting the rewards of labor is the desire of every business. Being able to measure their success using raw facts is one way they can do this. It seems the way people can agree they are succeeding. One thing they fail to realize is that marketing has no expiry date. This makes the returns unending. The right strategy makes the brand the leading name in the minds of consumers so no amount is too much to put into such campaigns.  Trying to quantify ROI with social media is unattainable. It benefits may take time so it is hard to even try. This writes up addresses the issue of trying to use ROI as a standard for being on the social platform. Although ROI is, an important aspect of knowing how a brand is fairing financially, social media is not magic where the minute one is in, sales increase. One thing it does where all other campaigns may fail is that it reaches targets for less cash. It demands time and energy.  While it may not seem the best thing to do due to of th
Read more