Just a quick post today to point out that even though they didn’t make much noise about it, PayPal recently announced a range of fee increases that go into effect Aug 2, 2021.
For nonprofits, the new rate includes a 63% increase to the per transaction rate ($.30 to $.49). This will hit groups looking to maximize micro-donations especially hard.
I can say that most of my Venture users utilize Stripe as their payment gateway, we do have some on PayPal and I’ve reached out to them to make sure they are aware of the impending change and make sure they consider how this will impact their net revenue. If you’re a PayPal user, I recommend you do the same.
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