Has anyone used this feature on paypal? How does it work? I’m trying to figure out if it is better to do this or multiple invoices for a layaway. Thanks for any help!
I always lose money each transaction.
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I use it all the time. I set the minimum due as whatever the agreed deposit is. Then they can pay how they want. I put in the comments that the doll will not be sent til the final payment is made.
They do take out fees on every transaction. But I haven’t ever bothered to do the math, I would think overall it’s still the same percentage as it would be if the invoice was paid in one transaction.
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How do you lose money? Does PayPal take the fee from the final price for each installment? Like if it was an 100 item with four payments of 25, would it take $3 each time?
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It’s much better than sending multiple invoices. If you send multiple, each invoice is going to show as a transaction paid in full. So they could do a chargeback saying you didn’t send the item. With one invoice allowing partial payments, it won’t show as completed until every payment is made.
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What happens if the person decides they no longer want the item? Are the payments non refundable?
They can’t cancel the invoice. They would just lose what they’ve paid in. It’s up to you whether or not you choose to give them back what they’ve paid in.
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That is correct statement.
3% of $100 = $3.00
3% of $50 = $1.50, thus for 2 transactions it will be same $3.00
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I’ve used paypal parcial payments both with my dolls and cakes and I’ve never had a problem. I wouldnt do it any other way honestly.
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I use partial payment all the time. First payment, usually $100, is non-refundable. Then we work out details for the rest. I put all of this in writing on the invoice.
But isn’t it just the regular PayPal fee that you would have paid anyway just calculated for each instalment instead of one whole sum? It’s a percentage so it should work out the same in the end.
I’m editing to say I see it’s already been discussed. Haha that happens to me every time I post a reply before I keep reading on.
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