EmillionForum is quickly becoming the #1 Affiliate, Internet Marketing community out there. They are here to share with you one of many forum exclusive’s and showing the readers of Performance Marketing Insider how they can save money with PayPal.
PayPal is widely used by many people, and if you are making any money online chances are you’re using PayPal to receive payments. Perhaps you are receiving a payment from an affiliate network, or even selling a service, in most cases we use PayPal because it is secure and it saves a bunch of time. Now if you haven’t already realized, for every transaction you process through PayPal they charge you a certain % of each transaction amount. You might sit there and laugh if you’re a big baller like, “Ryan Eagle”, but in truth if you look at each transaction and slowly add them up over the years, you will realize that PayPal has made a fortune off of you. Being online entrepreneur’s in this financially un-stable world we must try and save money. If you feel the same, then you’ll be happy to know that there is a way to receive money via PayPal for free. It’s called Mass Payment.
What is Mass Payment?
It allows a PayPal Premier or Business account holder to send payments to multiple recipients payments instantly. It’s primarily designed for ‘non-sales’ related payments, such as affiliate commissions, rebates, prizes, and incentives.
What’s so good about it?
If you’re the recipient, you pay no fees. That’s right, it’s free. Compare that with the regular payment method where you — the recipient — has to shoulder the transaction fee.
If the recipient doesn’t pay the transaction fee, who does?
The sender does. The transaction fee is very low for this payment method. It’s 2.0% of the payment amount, with a cap (maximum fee) of $1.00.
I bought a domain name for $335 and used Mass Payment to send my payment. Yes, I had to pay $1.00 for the transaction fee, but it saved my seller around $13.00, which made him quite happy.
What do I need to use Mass Payment?
If you’re the sender, you need a Premier or Business PayPal account. You also need an ounce of patience as sending payment using this method requires some work.
Is there anything else that I need to know?
There’s just one downside to using this payment method — no buyer (sender) protection. Unlike the regular payment method in which the buyer can reverse the payment or do a charge back (after, for example, receiving a faulty product), Mass Payment offers no protection for the sending party. No worries though if you are sending the payment to a trustworthy recipient.
To learn more about the steps for sending Mass Payment, visit the PayPal Web site.