RE: Payments online -- website

[Guest guest]

,

There is no monthly charge, but....the cost per use if probably hire than the Quickbooks cost per use.

So depending on how many credit cards you use, it could be more expensive to use the "free" service at PayPal.

At least that is how I read it.

Locke, MD

From: [mailto: ] On Behalf Of EadsSent: Wednesday, December 10, 2008 8:48 AMTo: Subject: RE: Payments online -- website

,

To clarify, there is no minimum monthly charge for having this PayPal account? My QuickBooks one has a $9.95 minimum monthly charge, even if no transactions are done.

Thanks for sharing your ideas and experience, once again!

A. Eads, M.D.

Pinnacle Family Medicine, PLLC

phone fax

P.O. Box 7275

Woodland Park, CO 80863

www.PinnacleFamilyMedicine.com

From: [mailto: ] On Behalf Of LockeSent: Tuesday, December 09, 2008 10:23 AMTo: Subject: RE: Payments online -- website

Hi Graham,

I suppose that is semantics.

You are correct -- PayPal does charge for the Credit Card fees to use a credit card through their system -- so it isn't free in that sense.

But there is no monthly fee for the basic business option to have the site set up and no cost (other than opportunity costs) for me to spend some time incorporating the code into my website, etc.

I could be wrong, but I believe places like Medfusion and RelayHealth charge extra for the service, plus credit card fees.

I suppose it's sort of like getting a "free" car -- it's not really free -- you have to put gas in it, clean it, oil, insurance, etc.

I guess what I mean by free and low/no overhead for the service is....

1. No setup fee or monthly fee to have access to the credit card service.

2. Free for me to install on my website -- others might have to have an IT person install the code into a website, so they might have to spend some monies.

3. So if I never use the service, I'm not really out any money, other than the hours used to research and install the code.

I'll try to keep everyone up to date on whether patients use it.

But, yes, you are correct -- the actual service of using the credit card charge is not free.

I'm sure there are cheaper options for credit card charging out there, but as an online option to try out, I'm willing to try it out.

If it becomes a big hit, maybe I'll try to find other options to use for online payments that are cheaper.

I'm willing to pay a little extra for awhile until I see if it takes off.

For what it is worth -- here is my Costco Merchant service I use vs the much more expensive PayPal option.

Costco Retail Merchants 1.64% Plus 20¢ per card-swiped transaction

PayPal 2.9% + $0.30 USD

So, let me see -- $100 transactions x 10 visit = $1,000

Costco - 1.64% ($10.64) plus 10x0.20 ($2.00) = $12.64

PayPal - 2.9% ($29.00) plus 10x0.30 ($3.00) = $32.00

So definitely a significant difference -- paying $19.36 more per $1,000 -- or $1.94 per transaction in this scenario.

Of course, if you are paying for a credit card machine or having your staff enter in credit card for the patient in the office, or needing a phone line to do the credit cards, there is some extra overhead beyond the patient who is doing this from home without any overhead for your office -- the patient supplies the computer, internet access, time to enter the info, etc.

So.....not a cheap option based on the transaction fee, but cheap to set up.

Website Payments Standard: Pricing

The transaction prices listed are for the U.S. only. Learn more about accepting international payments.

Monthly Income

Per Transaction

Transaction Price Example

$0.00 USD - $3,000.00 USD

2.9% + $0.30 USD

You’ll pay $3.20 USDon a $100.00 USD transaction.

$3,000.01 USD - $10,000.00 USD

2.5% + $0.30 USDMerchant Rate qualification required

You’ll pay $2.80 USDon a $100.00 USD transaction.

$10,000.01 USD - $100,000.00 USD

2.2% + $0.30 USDMerchant Rate qualification required

You’ll pay $2.50 USDon a $100.00 USD transaction.

> $100,000.00 USD

1.9% + $0.30 USDMerchant Rate qualification required

You’ll pay $2.20 USDon a $100.00 USD transaction.

Sign Up

Learn more about Website Payments Standard.

Qualify for Lower Pricing With PayPal’s Merchant Rate

When you’ve been a PayPal member for more than 90 days and your sales volume is more than $3,000.00 USD per month, you’re eligible for PayPal’s Merchant Rate. PayPal bases eligibility on sales volume from the previous calendar month.

To qualify, you must meet the Merchant Rate criteria. If you qualify, log in to your PayPal account and complete our one-time application form.

To find out more about this special rate, contact sales at 1-.

The PayPal Advantage

· No obligation

There are no long-term contracts, and you can cancel anytime.

· Chargeback protection

We help protect you from chargebacks. On qualifying transactions, PayPal’s Seller Protection Policy shields you from certain liabilities that some merchant accounts may have.

· Accept payments immediately

Sign up for a PayPal Premier or Business account, and start accepting payments today. There’s no lengthy application process

From: [mailto: ] On Behalf Of Graham ChiuSent: Monday, December 08, 2008 12:25 PMTo: Subject: Re: Payments online -- website

, how is it free?I've been using paypal for 8 years now .. I've always been charged pertransaction.On Sun, Dec 7, 2008 at 6:27 PM, Locke <lockecoloradogmail> wrote:> I think I have an answer with the free PayPal business option.-- Graham Chiuhttp://www.synapsedirect.comSynapse - the use from anywhere EMR.