Paypal to increase commercial payment fees

Rappler.com
Paypal's latest policy update has some changes in store for Philippine PayPal account holders

INCREASED FEES. An illustration of online payment service PayPal at LeWeb Paris 2012 in Saint-Denis, near Paris on December 5, 2012. Photo by AFP/Eric Piermont

MANILA, Philippines – Philippine Paypal account holders may want to spend some time reading the latest policy update available on their accounts. Paypal will be implementing new rates for commercial transactions beginning September 10.

PAYPAL POLICY CHANGE. Paypal outlines its amended policies for the Philippines beginning September 10. Screen shot from PayPal

According to the policy update, the Commercial Payments Fee will increase slightly.

Domestic payments for standard account holders will have a rate of 3.9% + fixed fee, with a standard eBay rate of 3.4% + fixed fee. Merchant accounts will have a rate of 2.9% to 3.9% + fixed fee and a merchant eBay rate of 2.4% to 3.4% + fixed fee.

International payments for standard account holders will have a rate of 4.4% + fixed fee and a standard eBay rate of 3.9% + fixed fee, while merchants deal with a merchant rate of 3.4% to 4.4% + fixed fee and an eBay rate of 2.9% to 3.9% + fixed fee.

Micropayments are also affected, with domestic payments getting a 5.5% + micropayment fixed fee. International micropayments have a 6.0% + micropayment fixed fee. – Rappler.com