Wednesday, October 8, 2008

PayPal vs Revolution Money Exchange

Most everyone I know that uses the computer has a PayPal account, myself included. A few months ago on Etsy, I was introduced to Revolution Money Exchange, a new way to receive and transfer funds online without the extra fees. I've been using PayPal for about three years now. And although they have been very good to me in catching people trying to get into my account and delivering my funds in a timely manner, I still get hit up for those small fees.

Say you sell a painting for $200. It goes to your PayPal account and then they take a small percentage of that. So when you transfer it to your bank account, you end up with less than $200. Now wouldn't you like to get what you asked for? I suppose that's how they make their money and stay in business and we should just start adding that little percentage to our artwork so that way we get exactly what the painting is worth.

Let's go back to Revolution Money Exchange. I'm still reading the fine print, but it seems that if someone purchases your work through Revolution Money Exchange and has an account with them, there are no fees and you get exactly what you asked for. The problem I see with this is that someone wanting to purchase your work through this newer company might not be familiar with it and shy away. They may also opt not to make the puchase because you will be rerouted to Revolution Money Exchange and be asked to start an account.

I'm going to do a little experiment. I will try and post two paintings for each new entry. When I do that one will be for sale through PayPal and the other through Revolution Money Exchange. I will do this until the end of the year and then tally the results and let you know the beginning of the year.

I would love to hear what you think about this and if you have any experience with either companies, good or bad that I should take into consideration for future sales. Thanks for reading and have a great day!

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