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Transaction Costs Learn about the minor convenience feespeople experience while paying you online
People experience a small convenience fee when they pay you onlineWhen people pay you onlinewith a credit card, they arecharged a very smallconvenience feeYou never have to worryabout absorbing these fees;they are automatically addedon top of the program costyou are charging 2
ExampleFor instance, if you set a $100cost for a program, you willreceive $100 from eachregistrant; people will becharged slightly over $100 toaccount for the fee
People Have a Choice ORStadiumRoar accommodates online payments, however, also lets peopleregister for programs without paying online. So, if there are a handful ofpeople in your program that still want to pay the old-fashioned way, theycan.We obviously recommend as many people pay online as possiblethough…it makes things much easier for them and much easier for you.
Breakdown of fee On each transaction, PayPal takes 2.9% of the program cost + 30 cents StadiumRoar keeps an additional amount of about 1% of the program cost, which is used to maintain our software and pay out donations to sports-and-recreation programs (see the Go Paperless Fund section to learn more about these donations)No fee is ever taken from you, but rather, the people registering 5
ScenarioYou set a fee for Program ABC of $50.00When people sign up for Program ABC, they will be paying$52.38You will keep $50.00 and $2.38 will cover the transaction costs(PayPal collects $1.80 and StadiumRoar collects 58 cents)
StadiumRoar’s convenience fees are LOW ~10% ~9% ~6.4% ~3.9%
How will your participants feel about these costs?These fees are called convenience fees for a reason; people enjoy the safety,accountability and ease of paying online as opposed to mailing or dropping offchecks, and overwhelmingly do not mind paying an extra dollar or so.PayPal currently has over 100 million members – that’s over 1/3 the populationof the United States – that’s a lot of people who don’t mind convenience fees!
Checks vs. Online PaymentChecks Online Payment• Money takes multiple days to travel, get • Money is instantly transferred deposited and finally confirmed; if a and confirmation is instantly check is dropped off personally, driving provided and waiting in lines are additional burdens • PayPal’s world-class security• Checks often get lost or misplaced software protects all transactions• Accounting needs to be done manually with pen and paper or spreadsheets • PayPal’s world-class accounting software instantly records all• Checks, envelopes, printed forms, details of transactions stamps and gas are all needed, which all carry their own monetary costs • No physical material is needed at all
Not to mention… Cutting down on the use of paper checks helps the environment and the parks your participants play sports in