Noninclusive Payment Processors' Fees Concerns?

FriendlyPerson

Hi there again, I decided to split up my topics so it's easier to keep them as concise and to the points as possible. Is it true that we as end clients have to pay you the company these fees instead of including it in the pricing presented to us?

Because if so doesn't that violate some payment processors/networks terms of having not to charge these fees, "convenience fees", "gateway fees" or similar? I thought as a general business you are required by some processors and such to not to pass these operating costs to slay a client to use Option A over Option B or such? But rather to include it in the products'/services' fees as an "average"?

The_Moose

Yes, fees and value added tax are not included in the price. It's common practice to include that here in Sweden, but not required. The reason for this approach is to keep our prices simple and accurate for everyone as taxes varies between different countries.

FriendlyPerson Because if so doesn't that violate some payment processors/networks terms of having not to charge these fees,

I have to look that up for Paypal, but for cryptocurrency payments there are no such requirements as the sender pays the fee anyway.

We used to allow custom payment amounts via Paypal and during certain periods of time we could receive multiple payments with amounts less than $0.5, with Paypal's transaction fees starting at $0.3/payment that simply wasn't viable and the fee was passed down to the end user as a temporary fix to "discourage" the expensive micro transactions.

FriendlyPerson

The_Moose We used to allow custom payment amounts via Paypal and during certain periods of time we could receive multiple payments with amounts less than $0.5, with Paypal's transaction fees starting at $0.3/payment that simply wasn't viable and the fee was passed down to the end user as a temporary fix to "discourage" the expensive micro transactions.

I totally got ya, a much better solution that major companies are doing are minimum deposit/recharge amounts. Usually 5 or 10 USD or whatever the client chooses to be billed in (so if it was in euros it would be 5 to 10 euros, etc).

The_Moose

FriendlyPerson I totally got ya, a much better solution that major companies are doing are minimum deposit/recharge amounts. Usually 5 or 10 USD or whatever the client chooses to be billed in (so if it was in euros it would be 5 to 10 euros, etc).

We're aiming for that approach in a near future.

Megan_Wilson Any plans to remove the fees in the future, now when the amounts are fixed?

Yes, starting January 1:st fees will be included in each deposit, as mentioned above Paypal takes $0.30/transaction + 2.9% while Cryptonator only takes 0.9% no matter which amount is paid. Paypal will therefore have fixed amounts while Cryptonator will allow custom amounts.

Megan_Wilson

Any plans to remove the fees in the future, now when the amounts are fixed?

FriendlyPerson

The_Moose Awesome I am very glad that fees will be inclusive once the New Year rings! At only the expense of having to deposit/recharge x amount at a time. I will likely give this platform a whirl on that day once in place. 👍️