PayPal to increase prices for U.S. merchants
According to a Bloomberg report, PayPal will be increasing its fees for many small US businesses.
The change will come in the form of a 2.9 percent flat rate with an additional fee of 0.30 USD for domestic transactions. A 3.9 percent rate with an additional fee that varies by country will be implemented for international transactions.
The online payments system company wants to maintain revenue growth and boost profit margins in an attempt to separate itself as a business from eBay. Expect the change to take effect as of October 1.
Larger companies with individual contracts with PayPal won’t be affected by the change, which is expected to boost the company’s annual revenue by about $10 million.