PayPal raising merchant fees on some of its transactions
Illustration by Alex Castro / The Verge
PayPal said Friday it is raising fees for some of its newer products “to better align our pricing with the value that our products and services provide,” according to a blog post by senior vice president Dan Leberman. The changes will affect how much PayPal merchants pay per transaction, and take effect August 2nd.
“PayPal has become more than just a button or payment processor to be a full commerce platform capable of driving growth for businesses,” according to the blog post. “Consumers are nearly three times more likely to complete their purchase when PayPal is available at checkout.”
In the past, PayPal has had a flat rate for sellers processing payments, charging 2.9 percent of a transaction price, plus a 30-cent fee. The new,…