PayPal fee example: Until now, for operators not using bookingkit, a monthly revenue of €1,000 would incur a PayPal fee of €19. Not only do customers get convenient payment processing through PayPal, but they also get a comprehensive booking management service complete with a wide range of other payment methods, automatic ticket and invoice generation, coupon and gift certificate management tools, bookkeeping and access to marketing platforms - and all at the same price as before! In fact, PayPal’s fee bump actually makes bookingkit, as well as the services and features it provides, more affordable. This means the former transaction fee rates still apply for bookings placed through bookingkit. Since PayPal is directly integrated in the bookingkit platform as a payment method, bookingkit customers are unaffected by the new rates. PayPal’s getting more expensive, but not for bookingkit customers Source: screenshot taken from PayPal What the new fees look like in absolute terms: Former Rate New PayPal fee rates following the increase. A complete overview of the new rates can be found in PayPal’s terms and conditions. A lower commission of 1.49 percent is reserved for merchants with a monthly volume of more than €100,000. For merchants who earn more, the fee is set to jump 0.29 percent, resulting in commissions ranging from 1.79 to 2.19 percent. What will my PayPal fee rate be after the increase?Īs of August 31, merchants with a monthly payment volume of less than €2,000 will owe a commission of 2.49 percent for each transaction (formerly 1.9 percent). Unfortunately, given the growth we’ve been seeing in online purchases for tickets and coupons in the tours and activities industry, as well as the increasing popularity of PayPal as a convenient way to offer and manage online payments, operators simply have no choice but to accept the fee bump for now. Until now, the max fee for businesses using PayPal was just 1.9 percent, even for monthly revenues totaling less than €2,000. The new rates will affect small and mid-sized businesses in the tours and activities industry most, with total monthly received payments amounting to less than €25,000 incurring a commission of at least two percent. Starting August 31, PayPal will be introducing new fees on received payments for all customers (except those who have entered into separate agreements with PayPal specifying other rates).
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