Monetization - fee questions

[Kinga Incze]

Hi

We're going to launch pay walls to Mediaspace.global and would like to ask your help to clarify the conditions.

1) As I understand Ning takes 5% of each transation, no fix fee to be paid. 

a) is this right?

b) can I have an official contract or T&C that reffers to it? 

c) how does this happen, considering we integrated Stripe - if it an agreement between Stripe and Ning and Stripe pays Ning?

d) is 5%  on net or on the gross amount VAT included?

2) Stripe fee - how much is it? I can't find which package we integrated - would it be possible to mark it somewhere? (Btw, I think it was COnnect Standard but I don'T see the transation fees on the Stripe website, either.)

Thanks for you help in advance,

Kinga

Ps. What's the justification for the 5% for Ning?  What services does it cover?

[This Is bully]

Between stripe and Ning you would be paying close to 8% in transaction fees 

[Kinga Incze]

Do you mean Ning + Stripe fees = ca 8% total? Thanks

[Max Ning Support]

Hi Kinga,

1) Yes, correct.

a) Yes, Ning takes a 5% fee from each e-Commerce transaction.

b) Here you can find Terms of Use. Paragraph #4 is about fees.

c) We do not have an agreement with Stripe or Paypal. 
If you would use the e-Commerce, you'd need to pay a 5% Ning fee + Stripe/PayPal fees. 
I'm afraid that I do not have exact information about how much would it be in total. It depends on the region, the bank, etc. 

d) It's the gross amount in terms of VAT, you'd still need to pay taxes and other expenses.

2) I would recommend contacting Stripe regarding the question about their fees. I'm afraid that we do not have exact information on this particular question. 

In terms of justification, fees are mostly covering the maintenance of the integration.

Hope this helps! Let me know if any question appears.
Kind regards,
The Ning Team

[Kinga Incze]

Thanks a lot!

Re c): How do you get your 5% if you don't have an agreement with Stripe? I don't remember giving Ning our bank account information - or did I, at some point during settings, I just don't remember?

And I still wonder the reason for your 5%.

Thank you,  

Kinga

[Max Ning Support]

Hi Kinga,

I'm sorry for the confusion.
Surely, we have an agreement with Stripe and PayPal since these payment options are available.

I meant that we collect our 5% fee prior to the moment when you receive the payment to your card or PayPal.
So there is no agreement in terms of fees.

When you set up the e-Commerce on your website, you're asked to connect your Stripe/PayPal account.
The connection itself occurs not on our end. For example, with Stripe, you need to set it up on their end - https://connect.stripe.com/

We just provide a tool that allows you to easily set it up.
Of course, the setting up process is only a small part of the functionality that e-Commerce has.

It is an advanced tool that we created from scratch.
It has a lot of options. In-built discounts and coupons functionality, recurring subscriptions, different PayWalls, etc.

And in order to maintain the whole e-Commerce system, we collect the 5% fee on our end.

I hope this answer is more clear :)
Let me know if not!

Kind regards,
The Ning Team

[Kinga Incze]

That's clear, thanks, one last question on fees: so if a subscriber pays 100 dollars, first Stripes takes its fee (e.g. 2.9% + 0,2usd)= 96.9usd, and onces that money lands on our bank account, you take 5% of 96.9USD? Is is taken off automatically?

Where can I learn more about coupons and in-built discounts? I did not recognize them so far.

Thank you!