Holy Cow, did ya'll see Paypal 3.49% + 49¢ per transaction fee?

[Americasprice]

I know that it's just the cost of doing business but most of the other payment processors are still at 2.9% + 30c per transaction fee and such.  Paypal 3.49% + 49¢ per transaction, WOW!!!  Makes me reconsider accepting Paypal. Still better than what ebay, mercari, Etsy and Amazon takes from us sellers.  It is what it is.  I guess we just have to roll with the punches.  

www.americasprice.com 

[AVsupport]

Where is the option to add the costs of finance to be charged to the customer? 

[Americasprice]

That's a good question.   I think there is a credit card processing company that charges seller zero processing fees and passes the cost to the customer.  Will customers go along with this?  I don't know.  I guess we will soon find out. 

[AskRalph]

You put it in your costs to sell it ie if your items costs you $15.00 now you say it costs you $16 .00. Then add your profit. 

[AVsupport]

again, not always a good strategy, this approach may not suit all. I don't like to raise prices further than what I need to as this adds to the price rises caused by inflation, this will make the buyer think twice. 

[AskRalph]

I agree but I costed in. 

Ralph Meyer 

[Americasprice]

I'm still using Paypal.  I'm not turning down a single sale.  

[jgrgetich]

As an owner of three retail locations, some are missing the bigger picture.  In a nutshell, a $5 sale is $5 more you took in, than if you didn't have the paypal feature, you would not have received.  I agree that prices are ridiculous that we all pay, but bottom line we would not be selling if we didn't sell.  It is what it is and they know it.  Want to make a $5 sale?  Pay the fee. Just make sure you are selling for a correct profit margin.

[JTPets]

It’s definitely crucial to look at the bigger picture. Yes, each sale, no matter how small, contributes to our overall revenue, and services like PayPal help facilitate those transactions. However, it’s equally important to remember that we don’t always have to accept the status quo without question. This is where trade organizations and collective action come into play.

In Canada, for example, we’ve seen progress with merchant processing fees being reduced thanks to pressure from both consumers and retailers. By advocating for fairer terms, we're seeing a shift in the marketplace. It’s a reminder that when businesses unite and push back against these micro-fees, there can be real change.

Ultimately, the power lies in those who choose to speak up for themselves and others in the industry. While we may need to absorb some fees to keep sales flowing, it doesn’t mean we shouldn’t push for fairer practices where possible.

[doc_choc]

Totally agree with you on this @JTPets we need these services as a business but likewise it's unfair to tramble the little guys in to submission. Collective action is great to hear about especially when the charges are disproportionate, sometimes a stand needs to be made for fairness. 

[VanKalkerFarms]

The last sentence is the key, and so many don't even understand what their actual profit is.  It could easily be that a $5 sale at the stated 3.49% + 49¢ would be a net negative with many people's pricing structures.  
But overall, yes, the ease of accepting credit cards far outweighs their cost and just needs to be accounted for when pricing your item,s just like you have to include your mortgage/rent, insurance, cost of the item, breakage/loss, etc

[willtheengraver]

While I commiserate, isn't this community for Square users?

I have yet to see a transaction, or a customer that won't accept Square but want Paypal.

[richardfreddie]

That’s a valid concern—payment processing fees are definitely cutting into margins, especially for small sellers. It's worth keeping an eye on broader financial markets today to see how fee structures evolve across the fintech space. For those following trends and insights, Fintech Zoom news offers regular updates on how shifts like these could impact sellers and investors alike.

[atMerchant]

My lower priced items have two prices, one for cash and another for credit cards. This allows me to keep the price low for cash paying customers, and only charge the higher price for the using a credit card. The higher priced items I am willing to take that extra hit. And I will not raise the overall price of items as it is not fair to the consumer using cash. If we lose cash as a whole, that is going to be absolutely horrible for everyone. 

I have friends that thought I was not smart using Square as my cc processing company. I think they were fools for paying a monthly fee. And their cc processing company passed the cost to their consumers. Which, if you want to use a card vs cash, then you should absorb some of the fees the retailer has to pay. Cause whether it is wrapped up in the price of the item or not, it is overhead. This anyone saying it is wrong to charge the consumer extra for using a card, you are charging every consumer for the fee by raising your overall prices to cover the cc fee. Punishing all for some. Does not seem fair when you look at it that way. To each tis own. Your choice. My choice. 

Either way, the credit card processing companies got us, cause yes, bottom line, we need to make every sale we can make. Yet, Square offers the biggest punch and giveback for us companies with all that it offers. And it seems we may also have the lowest fees as others are raising theirs. 

Thank You Square!!

Best Wishes to You All 

[androo]

Remember that cash has a cost too - security, insurance, time to count it, go to the bank and deposit it, etc. 
80% of my sales are on card, I worked out the cost of my time plus insurance on handling cash was worth more than 2-4% of those cash sales. Cash was more expensive for me to accept. 
I still accept cash and square in person, and square, paypal, afterpay and zip online - the more ways people have to pay, the easier it is for them! 

[bonny]

If we had access to a time machine, I would take you back thirty years ago when there were "subscriptions" just to have a credit card machine that cost upwards of $60 per month.  And you had to have a landline to operate it. Plus the fee per transaction on top of the monthly fee.  It was hideously expensive. 

And if you were selling anything (I do mean ANYTHING) online, they would deny access to a credit card machine.  It's so much easier now.  The current transaction fees are a literal drop in the bucket compared to the ease and convenience we now enjoy.  Sometimes we need to step back and assess in a big picture way the value we receive for the cost and adjust our perception accordingly.  

Bonny Wagoner - Artist/Illustrator

[VanKalkerFarms]

As someone else pointed out, how far we have come in the options we have to accept credit cards with the revolution that Square started with flat-rate processing.  Depending on the size of the sale, that 49¢ could make the transaction a net negative. It used to be I had to get visited by Credit card companies just to prove I was a legit business, then have $800+ swipe machies and 3 dedicated phone lines and you would have nearly no idea of what accepting that card cost becuase it was different for nearly every different card with Qual and non-qual cards at different rates and tiered rrates and then add in reward cards or AMEX and you could be pushing 4-6%.  The very first year all we used Square for was only processing AMEX cards because before that, we didn't take them.  We started on Cinco de Mayo 2011.