Creative Commons license icon

PayPal micropayments offer new options for artists

No votes yet

Artists looking to cut transaction costs might consider PayPal's new micropayments.

Fees are 5% + $0.05, compared to 2.9% + $0.30 for a normal Premier/Business account.

Cost Micro Normal
$2 15¢ 36¢
$5 30¢ 45¢
$10 55¢ 59¢
$15 80¢ 74¢

The difference on ten $5 transactions would be $1.50 – enough for a McDouble with tax.

The break-even point is $12, which costs 65¢ in both systems. Those wishing for the best of both worlds should create a new micropayments account, and direct larger and cross-border transactions to their existing account.

The new system is reportedly being adopted by Facebook, Justin.tv and Ustream.

Comments

Your rating: None Average: 5 (1 vote)

Don't forget that Paypal does not allow transactions for Adult Material. That includes art commissions. If you get caught, they can freeze your account and your money. Alertpay.com is one alternative that allows transactions for Adult Material.

Your rating: None

Or you can use personal payment through paypal and pay no fees. /article

Your rating: None

That tends not to work so well for customers who want a refund.

Post new comment

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <img> <b> <i> <s> <blockquote> <ul> <ol> <li> <table> <tr> <td> <th> <sub> <sup> <object> <embed> <h1> <h2> <h3> <h4> <h5> <h6> <dl> <dt> <dd> <param> <center> <strong> <q> <cite> <code> <em>
  • Lines and paragraphs break automatically.

More information about formatting options

CAPTCHA
This test is to prevent automated spam submissions.

About the author

GreenReaper (Laurence Parry)read storiescontact (login required)

a software developer and Norn from London, UK, interested in wikis and computers

Small fuzzy creature who likes cheese & carrots. Founder of WikiFur, lead admin of Inkbunny, and Editor-in-Chief of Flayrah.