We want to address the recent uproar we've been hearing from our clients based on the fee and policy changes implemented by PayPal and Stripe that are affecting businesses bottom line.
Below are some of the changes PayPal has already implemented:
- The benefits of personal transactions will no longer exist for business accounts, making higher costs that much more unmanageable
- Business accounts will not be able to receive "personal transactions" (Friends & Family)
- The user agreement contains the threat of sanctions ($2,500) for accounts found to violate the acceptable use policy; PayPal sets the rules when it comes to what it considers a violation
- Changes in Instant Transfer fee structure for both consumers and merchants
Higher transaction fees for Stripe:
- Manually keyed-in card payment fees increased from 2.9% + 30¢
to 3.4% + 30¢ per transaction
- Stripe provides instant funding for a fee of 1%, which isn't logical because they are charging you simply to get your money sooner
Newtek is one of the largest payment processors in the United States. Due to our advanced technology, we don't have to charge you a 1% fee for you to get your money quicker! And that's just the beginning…
We have seen an influx of merchants switch from Stripe and PayPal to Newtek because of their policies and because rarely can we not blow away their pricing.
It only takes a few minutes to get a free quote with no obligation to see how much you can save.
Can I personally set up a call for you this week with my merchant services team so you can learn more?
Sincerely,
