Payment methods

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for auction online payment, we use STRIPE and PAYPAL payment gateway.

Stripe (founded in 2011) and Paypal (established 1998) are both payment gateways, acting as an intermediary for merchants and the authorized credit card networks / financial institutions, to authorize and accept payments.Below is a visual breakdown of how payment gateways fall into the web of e-commerce.

Payment methods

stripe and paypal are not the only solution for accepting online payments but they have had the market in a stranglehold for many years.

According to data from Datanyze becomes PayPal used by 64% of the market. Stripe comes in second with about 20%. As of September 2018, Stripe’s value will be estimated at $ 20 billion !

Payment methods

However, their service is not normally seen as a payment gateway, but rather as a end-to -end payment processing system

Micro-payments fees PayPal

  • $ 1.00: 5% of $ 1 = 5 ¢ and 5 ¢ + 5 ¢ = 10¢
  • $ 5.00: 5% of $ 5 = 25 ¢ and 25 ¢ + 5 ¢ = 30¢

Microfinance charges Stripe

  • $ 1.00: 2.9% or $ 1 = 2.9 ¢ and 2.9 ¢ + 30 ¢ = 32.9¢
  • $ 5.00: 2.9% or $ 5 = 14.5 ¢ and 14.5 ¢ + 30 ¢ = 44.5¢

How does Stripe handle disputes?

click here

How PayPal’s Dispute Resolution Works.

click here


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