How to calculate Paypal payment fee
I have implemented Paypal express checkout method in my freelancing site. But the problem is that Paypal deducts transfer fee from transferred amount.
For example, Client posts a job for $200, when he pays $200 to site, site receives $190 more or less. How to tackle this problem.
Code:
<form class="deposit_form" method="post" name="frmPayPal" id="" action="https://www.sandbox.paypal.com/cgi-bin/webscr">
<input type="hidden" name="business" value="myaccount-facilitator@your-musicians.com">
<input type="hidden" name="cancel_return" value="<?php echo base_url()?>desk">
<input type="hidden" name="return" value="<?php echo base_url()?>desk">
<input type="hidden" name="notify_url" value="<?php echo base_url()?>payment/notify">
<input type="hidden" name="succ_url" value="<?php echo base_url()?>payment/notify">
<input type="hidden" name="cmd" value="_xclick">
<input type="hidden" name="item_name" value="abc">
<input type="hidden" name="item_number" value="1">
<input type="hidden" name="payment_type" value="instant">
<input type="hidden" name="TaxTotal" value="0">
<input type="hidden" name="no_shipping" value="1">
<input type="hidden" name="currency_code" value="USD">
<input type="hidden" name="handling" value="0">
<input type="hidden" name="amount" value="<?php echo $key['fee'] ?>">
<input type="hidden" name="custom" value="<?php echo $key['id'].','.$session['id'];?>">
<button type="submit" class="btn btn-info btn-xs"><i class="fa fa-credit-card" style="font-size:14px;"></i> Deposit</button>
</form>
Does Paypal provide a specific formula to calculate payment fee? so that I can charge more Any kind of help will be appreciated.
This is UK specific, so may differ if you're not in the UK https://www.paypal.com/uk/merchantrate You can work out the charges based of that.
If you need another currency, just google "PayPal merchant rates" and you should get your regions relevant info.
US version: https://www.paypal.com/webapps/mpp/merchant-fees Not quite as simple, but looks like 2.9% + $0.30 for US fees and 3.9% + fixed fee for international fees
So for US transactions it should be in your case ($200 * 0.029) + $0.3 = $6.10
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