Potential PayPal Surcharge
Posted: Tue May 06, 2003 12:31 am
Hi there everyone,
Much to my disappointment, I'd just gone to our PayPal account to withdraw to our bank account, and found that PayPal's USD:CDN exchange rate was at a mere 1.38:1.00 (about 7% below the current rate). When this is combined with the fact that PayPal skims up to what? 5% off sales, it's becoming less and less affordable to accept PayPal as a payment method.
Also notable, PayPal does not permit Canadian clients to add US dollar bank accounts in Canadian banks (thus we cannot transfer it to our USD account and get a reasonable rate), nor do they allow Canadians to add US shipping addresses, making it difficult for much use to be made of the PayPal account aside from paying CPanel bills to DarkORB.
As a result (this is by no means implamented, nor final), we may be tacking on a 10% "inconvinience" fee for anyone paying by PayPal. If you do the math, this isn't to fetch extra profit, but merely to recoup losses that are being generated by accepting this form of Payment.
If you've got feedback, please feel free to leave it. I'm well aware that PayPal is the only billing option for a lot of people, which is why we haven't implamented this before, but we have to draw the line somewhere on this subject.
Much to my disappointment, I'd just gone to our PayPal account to withdraw to our bank account, and found that PayPal's USD:CDN exchange rate was at a mere 1.38:1.00 (about 7% below the current rate). When this is combined with the fact that PayPal skims up to what? 5% off sales, it's becoming less and less affordable to accept PayPal as a payment method.
Also notable, PayPal does not permit Canadian clients to add US dollar bank accounts in Canadian banks (thus we cannot transfer it to our USD account and get a reasonable rate), nor do they allow Canadians to add US shipping addresses, making it difficult for much use to be made of the PayPal account aside from paying CPanel bills to DarkORB.
As a result (this is by no means implamented, nor final), we may be tacking on a 10% "inconvinience" fee for anyone paying by PayPal. If you do the math, this isn't to fetch extra profit, but merely to recoup losses that are being generated by accepting this form of Payment.
If you've got feedback, please feel free to leave it. I'm well aware that PayPal is the only billing option for a lot of people, which is why we haven't implamented this before, but we have to draw the line somewhere on this subject.