Did you know that PayPal is old enough to legally drink? I hope that doesn’t make you feel old. If it does, Stripe and Venmo are only 12 years old so you’re not that old, I promise.
PayPal is the pioneer of online transactions, and with that came online payment processing fees! If you use PayPal as a way to accept payments, then you’re paying a fee every time you sell something. (That’s how they get ya.)
When you connect Paypal to your OrderMetrics account, we pull those transaction fees that you’re paying into your data so you get a better understanding of your profits.
If you use Stripe and Shopify as payment processors as well, we integrate with those too. Integrating with all your payment processors will give you the absolute picture of your fees and how they relate to profits, so we recommend connecting all 3 if you use them.
Why track transaction fees?
Transaction fees can be small, but they add up – PayPal has pioneered the transaction fee by charging small processing fees for each transaction.
When we pull in transaction fees from PayPal, you’ll get a better understanding of how much you’re profiting off of a single sale, and what your overall business analytics look like after all is said and done.
This will also help you make better decisions about your payment providers. Shopify, Stripe, and PayPal all have different fees associated with their transactions. Maybe you’ll determine that one is less expensive than another. Or maybe you’ll start to understand that your fees are eating into your profits and you need to charge a higher price to make up for it.
We’re all about helping you determine what is making you profitable and what is eating into your profits, so go connect your PayPal account with OrderMetrics and see what that looks like!
If you want to learn how – check out the help center article on connecting the PayPal integration to your OrderMetrics account. As always, reach out if you have any questions or comments!
Not Using OrderMetrics Yet?
You’re in luck! You can get started with OrderMetrics today with a 14-Day Free Trial.