Thanks to your activism, Patreon has rolled back their fee increases
I posted this yesterday, and the great news is that because of the complaints of many of our and other donors, Patreon has canceled their disastrous free change: https://steemit.com/dtube/@davidpakman/mynvtfp4
▶️ DTube
▶️ IPFS
I reactivated a bunch of my $1 and $2 pledges for now. I couldn’t justify being charged a $.37 on a $1 charge, so I’m glad they’re revising this. Hopefully they don’t blindside anyone again when the payment plan does end up changing.
Yay, now I don’t have to cancel all my $1 pledges. (I was waiting to see what would happen.) I’m pretty sure they currently charge them all together monthly, so the amortized overhead is low.
The creators already lost of on people. Imagine how hard is to get new backers, so each lost is a double blow. What I can’t put my mind around is how someone like Jack was able to do just a shit move, when is clear to everyone else how important the 1-2 dollar pledge is.
Yep, the 200 Patrons we lost will mostly never hear about the rollback to the change. Not good for us.
It’s great to see people willing to jump back in after the announcement. I was fearing that they would chase away patrons for good.
I haven’t started my Patreon campaign yet. But I am hoping I can get a trickle of money coming in. I don’t eat much.
I’m glad to see them mending fences with Patrons.
Yeah, the problem is that the Patrons that canceled will likely not hear the announcement that the fee changes were canceled. Sort of a bummer.
Depends on how they have their service set up with payment processors. Getting low rates for microtransactions can be difficult and a number of available methods don’t allow donation-like transactions such as this. Some % of the 5% was likely going towards this to combat the smaller donations, but they’re probably becoming more popular than is manageable under their current cost structure.
thanks my friend @davidpakman
i read your post this is great news for me
That’s exactly right, they aggregated them and charged monthly, rather than as the payments came in. There’s no other way to do micropayments without getting eaten alive by fees. Credit card companies don’t allow merchants to talk about it, but they typically charge 2.9% plus 30 cents per transaction.
Still unclear how Patreon came up with 35 cents, that extra 5c is a stinker.
I’m guessing they want/need to charge more than 5%, but figured the fallout would be less if they ran it through as a transaction charge rather than taking more money off the top. They claimed they were running each charge separately, but that still didn’t apply to all pledges, since a lot of them run on the same day, and they weren’t going to separate three pledges on a single day.
I’m definitely hoping they go the Starbucks route or something. Let me put a lot of money into the system once to reduce transaction fees of smaller dollar amounts, then pledge smaller amounts monthly to the creators I want to support.
Maximum amount to artists and fewer transaction fees overall.
a good post, I've read it, I'll wait for your nice post following his da reading