Paypal ([ic] wells fargo epay)

JT Justman interchange-users@interchange.redhat.com
Sat Jan 12 14:01:01 2002


From: "Jim Balcom" <jim@idk-enterprises.com>
> Probably the fact that I've had merchant accounts since the mid-80's makes
a
> difference. I'm paying 1.75% discount, $0.20 per transaction for the phone
> call, and $10 per month as a statement fee. So, what PayPal wants to
charge
> is expensive for me.

Indeed. It also depends on your type of business... if you have a physical
storefront, things are cheaper.

> As I understand it, with the account that you have, if I pay you $20.00
out
> of my existing funds at PayPal, using money that someone sent to me out of
> their account, (essentially a cash transaction) they will charge you a
> transaction fee as you stated on that one, too. Is that correct?

Yes, unfortuntely. I don't anticipate many of these.

> There is also the fact that customers like to see the company that they
are
> buying from listed on their credit card statement instead of some 3rd
party
> processor. It gives them the feeling that they are dealing with a
legitimate
> company.

Most definitely. This is why I plan to switch as soon as my business picks
up.

JT