{"id":141,"date":"2011-12-08T08:35:00","date_gmt":"2011-12-08T08:35:00","guid":{"rendered":"https:\/\/www.shockwave-sound.com\/blog\/2011\/12\/08\/paypal-turning-screw\/"},"modified":"2017-08-09T06:43:53","modified_gmt":"2017-08-09T06:43:53","slug":"paypal-turning-screw","status":"publish","type":"post","link":"https:\/\/www.shockwave-sound.com\/blog\/paypal-turning-screw\/","title":{"rendered":"Paypal turning the screw&#8230;"},"content":{"rendered":"<div dir=\"ltr\" style=\"text-align: left;\" trbidi=\"on\">\n<div class=\"separator\" style=\"clear: both; text-align: center;\">\n<a href=\"https:\/\/www.shockwave-sound.com\/blog\/wp-content\/uploads\/2011\/12\/paypal_logo.gif\" imageanchor=\"1\" style=\"clear: left; float: left; margin-bottom: 1em; margin-right: 1em;\"><img decoding=\"async\" border=\"0\" src=\"https:\/\/www.shockwave-sound.com\/blog\/wp-content\/uploads\/2011\/12\/paypal_logo.gif\" \/><\/a><\/div>\n<p>At Shockwave-Sound.com we represent about 150 different music composers\/producers who receive their royalties from us quarterly. We&#8217;ve been using Paypal Mass Pay to pay out their royalties and the Paypal fee for this has been capped at $1 per recipient. So when we sent out royalties to 150 receivers, it cost us $150. No problem.<\/p>\n<p>Last month however, Paypal <b>massively<\/b> increased the fee for sending Mass Pay, to 2% of the value of the payment, up to a max of $45 per recipient. This means that when we now pay out royalties to 150 composers, it costs us <b>over $1,000<\/b> in Paypal FEE for <b>one<\/b> Mass Pay. This represents a price increase overnight over several hundred percent!<\/p>\n<p>The Mass Pay function is a fully automated operation that nobody in Paypal has to lift a finger to make happen. As a Paypal user we do the whole operation ourselves, using our Paypal account screen. It seems excessive to me, for Paypal to charge over $1,000 in fee for one automated process.<\/p>\n<p>Looks like Paypal are starting to realize some of the monopoly they have on this market and is starting to maximize profit by blackmail type fees. \ud83d\ude41<\/p>\n<p>Ironically, it&#8217;s still slightly cheaper than sending 150 international bank wire transfers, and of course, the Paypal Mass Pay is a lot less work.<\/p>\n<p>We have communicated this with our composers and they have kindly agreed to share the new 2% Paypal fee with us, so we are now paying 1% and the composers the other 1%, and I guess we can just about live with that.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>At Shockwave-Sound.com we represent about 150 different music composers\/producers who receive their royalties from us quarterly. We&#8217;ve been using Paypal Mass Pay to pay out their royalties and the Paypal fee for this has been capped at $1 per recipient. So when we sent out royalties to 150 receivers, it cost us $150. No problem. [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":727,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shockwave-sound"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.shockwave-sound.com\/blog\/wp-json\/wp\/v2\/posts\/141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.shockwave-sound.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.shockwave-sound.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.shockwave-sound.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.shockwave-sound.com\/blog\/wp-json\/wp\/v2\/comments?post=141"}],"version-history":[{"count":1,"href":"https:\/\/www.shockwave-sound.com\/blog\/wp-json\/wp\/v2\/posts\/141\/revisions"}],"predecessor-version":[{"id":728,"href":"https:\/\/www.shockwave-sound.com\/blog\/wp-json\/wp\/v2\/posts\/141\/revisions\/728"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.shockwave-sound.com\/blog\/wp-json\/wp\/v2\/media\/727"}],"wp:attachment":[{"href":"https:\/\/www.shockwave-sound.com\/blog\/wp-json\/wp\/v2\/media?parent=141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.shockwave-sound.com\/blog\/wp-json\/wp\/v2\/categories?post=141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.shockwave-sound.com\/blog\/wp-json\/wp\/v2\/tags?post=141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}