Inflation, stiflation. Payments handler, PayPal, is once again raising its transaction fees, and the pain will be felt across the board.
If you’re using PayPal to make payments for domain transactions, take notice.
PayPal sent out its latest schedule of fee increases, effective June 17, 2022.
Effective June 17, 2022, we are:
- Increasing the percentage fee charged to users to transfer money from their PayPal Balance account or their PayPal personal account to their eligible linked bank account or debit card using the Instant Transfer option. We’re also increasing the Instant Transfer maximum fee that may be charged to such users.
- Increasing the minimum fee charged to users to transfer money from their PayPal business account to their eligible linked bank account or debit card using the Instant Transfer option. We’re also eliminating the Instant Transfer maximum fee cap that previously applied to such users.
Guess what happens next?
As merchants get charged more for every transaction, they pass the increased cost onto domain investors.
You can view the full details about the fee increases scheduled by PayPal here.
