Lets save some money

Discussion in 'Bug Reporting' started by mctrivia, Dec 4, 2010.

  1. mctrivia
    mctrivia Member
    So you charge shop owners 3.5% of there markup to cover your paypal costs. That is fair. But you still have to pay the 3.5% paypal charges on your half of the cost. This is unavoidable from our customers but it is totally avoidable from your shop owners if you change the way you deal with paying out your shop owners.

    Instead of paying us 30 days after the 15th of the month that we accrue at least $30. Give us 2 virtual bank accounts on your page. 1 account contains all the money that has cleared the holding time you need for returns, and any cupon codes you give us. The second contains the money that has not cleared yet. We can't touch the second it is just there for us to know what is going to be available to us in the future.

    Now when I go to buy stuff of shapeways I can use my first account to pay you. This saves us both 3.5% I save because I don't have to pay the 3.5% that paypal will charge me when you give me my monthly payment, you save because you don't have to pay the 3.5% paypal will charge you when I pay you. Since I am likely buying stuff from my own shop to test we both save the exact same amount(I estimate $1.40/month for me and $1.40 * number of shops/month for you.

    At any point we can request to have account 1 payed out to us or select an option to have it payed out every 15th of the month that it is over $30. In this way I save $1/month that I chose not to get payed by you but those that don't want things to change still get payed out exactly as they were before.

    Now I mentioned cupons should go in our account 1. This would be a huge benefit to shop owners since on occasion you screw up a test print multiple times and we end up with multiple cupon codes which we need to keep track of and can only use one at a time. Since you will be saving a tone of money with this change you should help us out and make things easier for us by just dumping the cupon code money in account 1. or you could make an account 3 put cupons in there. they never dump into account 1 but get used up first when we buy stuff from your site.
  2. It sounds a little bit complicated, but in principle I agree with this.

    Seems more sensible to me to have one virtual account which stores our markup etc, which we can cash out to our PayPal account if we so choose, as long as it's over $30.
    I guess 'coupons' from rejected prints could also go into this account.

  3. mctrivia
    mctrivia Member
    The way I proposed has no down sides compared to the way it is now. Both systems are relatively complex when you sit down and try to figure out when you will get payed.

    1 virtual account would be simpler but would not give shapeways the ability to hold money back until it clears like they do now. The virtual accounts do not need to be seen by the shop owner they are just a way the software can keep track of things to make it work the same as now.
  4. fx2
    fx2 New Member
    My idea about this topic (I guess some partsof it look a little like the idea of mctrivia):

    Last edited: Dec 5, 2010
  5. This idea would also be helpful for shopowners like me who are under 18 and have to rely on someone else's paypal for transactions. I just sold some models the other day, and while my balance hasn't hit $30 yet, I don't relish the thought of having to ask my dad for my own money. A system like this would be a little better for me.
  6. pete
    pete Shapeways Employee CEO & Co-Founder
    Hi guys,

    thanks for the feedback. The virtual bank account is already on our (rather long) todo list. (and yet another todo is making that public). Actually adding coupons/vouchers to the account is a nice idea. This is not really a simple item as it needs to comply with some legislation.

    Actually with the virtual bank account I would see no reason why we would keep money to clear, besides the fact that customers can cancel their orders. We will get on this early next year.

    best regards,